27th Mar 2015 08:00
LONDON (Alliance News) - Abcam PLC on Friday said Deputy Chairman Jonathan Milner and certain trusts in which he acts as a trustee have sold GBP21.5 million worth of shares in the company via a placing.
The biotechnology company said Milner and the associated trusts had sold a total of 4.6 million shares in the company at 465 pence per share. Abcam shares closed at 465 pence on Thursday.
The placing was conducted by JPMorgan Cazenove and Peel Hunt LLP as joint bookrunners.
Milner also transferred at no cost 1.5 million shares into a charitable trust of which he is a trustee.
Abcam said the proceeds of the sale will be used for tax and estate planning purposes. Milner remains Abcam's biggest shareholder with 11.6%, and his remaining interest is subject to a 12-month lock up.
By Sam Unsted; [email protected]; @SamUAtAlliance
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