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Thumbs up Update Pace founder cashes in - 13-August-2009, 12:40

Pace founder cashes in

Chris Forrester

David Hood, who with Barry Rubery, founded set-top box maker Pace Micro Technology in 1982 (and which is now a PLC and trading as Pace) used the companys current high valuation to cash in 12.5m-worth of shares. Mr Hood no longer has any day-to-day involvement in the business.

Mr Hood has done well out of his investment. The City pages suggest he has earned more than 200m out of his shares over the years since the company floated on the London stock exchange in 1996. Mr Hood stood down as a director in 2004, but still holds a 13% shareholding in the company.

He now spends his time running a company specialising in chartering private jets to businessmen (Multiflight).


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