Independent News & Media finance director Mr Jim Parkinson has made a paper profit of almost £374,000 (€475,000) after exercising Independent share options. Mr Parkinson bought 194,634 shares at an option price of €0.52 compared to yesterday's price in the market of €2.95. Following the purchase, Mr Parkinson owns 1.79 million Independent shares which are currently worth €5.3 million (£4.2 million).