Sam Mudd, executive director of the company and managing director of Phoenix Software Limited, has assumed the role of interim CEO.
Murphy notified the Board that he made a number of trades in the company’s shares that had not been disclosed to the company or the market in compliance with stock exchange disclosure requirements.
Bytes said its board is working to clarify the details of these undisclosed trades.
However, based on the information provided to the board, Murphy’s holding of BTG shares is 2,890,218 and remains unchanged from the position notified to the market on 28 November 2023.
Bytes is a reseller of software, security, AI, and cloud services. It is headquartered in Leatherhead and was initially listed on the London Stock Exchange in December 2020.