16th Mar 2015 10:08
LONDON (Alliance News) - AO World PLC Monday said Chairman Richard Rose sold 5.6 million shares, representing approximately 1.3% of the company's total issued shares and 89% of Rose's entire holding in the company.
The deal on Friday, priced at 180 pence per share, is worth about GBP10 million before expenses.
Following this transaction, Rose holds 723,443 shares, which represents a 0.17% stake in the firm.
Commenting on the sale in a statement, Chief Executive Officer John Roberts said, "The share sale by Richard Rose follows the expiry of the post-IPO lock-up and will help to further increase liquidity and the number of shares in public hands. Richard remains committed to the company, both as a shareholder and as its chairman."
Shares in the online electrical goods retailer were trading at 184.50p down 3.7% Monday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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