17th Aug 2018 18:15
LONDON (Alliance News) - Healthcare and life science company Arix Bioscience PLC on Friday said Christopher Chipperton had sold 3.0 million shares at a price of 155 pence per share.
Following this transaction, Chipperton now holds an interest in 7.1 million shares in Arix, reflecting a 5.3% stake in the company.
Chipperton has entered a lock-in agreement not to dispose of any of his interest in Arix's ordinary shares for the next twelve months with limited exceptions. Moreover, for the year after that he can only make disposals of Arix's shares through Stifel Nicolaus Europe Ltd. This is in order to "ensure an orderly market" in the shares.
"Any disposal of ordinary shares during the orderly market period will be in such a manner as Stifel may reasonably require with the view to the maintenance of an orderly market," Arix said in a statement.
Shares in Arix closed up 0.8% at 159.19 pence on Friday.
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