THE founder of Pendle telecoms firm Daisy Group has been awarded shares worth £2million.

Matthew Riley, who is still chief executive of the firm, has been handed 2.5 million shares at 80p each, while chairman Peter Dubens gets one million.

The pair have been given the shares in exchange for them waiving rights after the business was floated on to the Alternative Investment Market (AIM) last year.

Mr Riley, who lives in Barrowford, was said to have made £30million from that move. He still owns a quarter of the firm, based at the Lomeshaye Industrial Estate in Nelson.

The shares can be cashed in anytime before June 30, 2016.

Mr Riley founded Daisy in 2001. Since then, it has acquired dozens of other firms and was valued at £200million.