Mr David Farrell, who received 6.6 million Fishers International shares as part of the consideration for Fishers' £7.1 million acquisition of his Farrell & Associates loss adjusting firm last year, has sold 3.6 million of those shares in the market. The shares, which accounted for almost 3 per cent of Fishers' total equity, were sold at 38 1/2p sterling last Friday and Mr Farrell realised £1.38 million sterling (£1.64 million) from the sale. He retains just over 3 million shares in Fishers.

Mr Farrell owned almost 45 per cent of Farrell & Associates and almost 57 per cent of its associate company, ATA, both of which were bought by Fishers for an initial £4.2 million payable in £2.1 million in cash and 11.5 million Fishers. Further payments up to the £7.1 million total consideration are based on profits in the three years after the Fishers takeover.