Gen-i boss sells shares

Gen-i's CEO Chris Quin has sold over $120,000 worth of Telecom shares to provide funds for family lifestyle choices, he says. The share sale isn’t an indication of his moving on elsewhere in the New Year, Quin says, adding that he’s looking forward to remaining with Gen-i and Telecom for “a long time yet.” According to Quin, the shares sold represent only a small part of his holding in Telecom, built up over the eighteen years he has been employed at the telco. “The shares are part of the remuneration package and vest from time to time,” Quin says. Asked how large his shareholding in Telecom is, Quin says he’s unsure how much of the company he now holds. Quin sold 49,935 Ordinary Shares in Telecom in three transactions on December 7, 8 and 9 this year, for a total of $120,584.76 as per an Ongoing Disclosure Notice issued to the New Zealand stock exchange. Meanwhile, Gen-i and the New Zealand Defence Force (NZDF) have extended their telecommunications and IT services relationship with the award of a new licensing contract. NZDF has awarded Gen-i a three year contract for Microsoft and other software licensing management, as well as NetApp hardware procurement with enabling software. NZDF says it anticipates reduced licensing costs, greater efficiency from its licensing and significant procurement and operating efficiencies. Gen-i currently provides NZDF with its desktop and laptop PCs and peripherals, managed data services, enterprise PABX (voice), infrastructure and equipment and professional services.

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