£1m divorce sell-off

THE finance director of BAE Systems has been forced to ditch almost £1m in shares to fund a divorce.

Peter Lynas is the latest City executive having to liquidate a large chunk of shares to pass to an ex wife.

The sum was so large the defence giant had to make a stock market announcement to warn the market the reason behind Lynas selling 182,288 shares.

He made the disposal at 483.25p a share, worth £937,072. He is separating from wife Carole with whom he has two children. Lynas, 58, will retain a 206,237 stake worth £1m.

At BAE he controls the purse strings for the F-35 joint strike fighter.