£25m Darktrace riches

THE wife of British tech tycoon Mike Lynch has cashed in on £25m worth of shares in cyber- security firm Darktrace.

Angela Bacares, who is the company’s third largest shareholder, has slashed her £273m stake by over 6m shares. She has been reducing her Darktrace stake since late last year, with shares falling from 80m in December to 56m. Between them, Lynch and Bacares hold a combined 12pc position in Darktrace, which is worth over £500m.

Shares in Darktrace have fallen by over 40pc in the last year to 400p last night.

But last month it boosted its profit margin outlook for the full year after it continued to add new customers in the last quarter.