LONDON (AP) _ Glen Renfrew, managing director and chief executive of Reuters Holdings PLC, has sold 20 percent of his personal holding in the company for 1.72 million pounds, or about $3.3 million, the company said Wednesday.

The sale of 210,000 shares represents a 0.05 percent stake in the company and leaves Renfrew with 849,378 Reuters shares in his name.

A brief statement said Renfrew sold the stake in the market at 820 pence a share ($15.81) to finance loan repayments and settle tax liabilities. Reuters declined to elaborate.

Reuters stock on Tuesday fell to a low for the year of 750 pence a share ($14.46). Earlier this year it had traded as high as 13.18 pounds a share ($25.40).