23rd Sep 2019 16:59
(Alliance News) - Belvoir Group PLC on Monday said its former chair and founder Mike Goddard will sell two million shares through a placing.
The property franchise company said Goddard will sell the shares, which represents a 5.7% holding in the company, at no less than 105.00 pence each.
The placing will be effected by way of an accelerated bookbuild to institutional investors, Belvoir said.
Goddard - chair until May, having previously been chief executive - currently holds 4.4 million Belvoir shares, representing 13% of the company.
Shares in Belvoir closed 0.2% lower at 112.30 pence each in London on Monday.
By Eric Cunha; [email protected]
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