19th Jun 2015 06:40
LONDON (Alliance News) - Card Factory PLC Friday said some of its directors and members of its senior management team will sell a 2.2% stake in the company via an accelerated bookbuild placing of 7.4 million shares.
Card Factory shares closed Thursday at 359.50 pence per share. It that price, the offering is worth GBP26.6 million
The selling shareholders, which include Chief Executive Richard Hayes and Chief Financial Officer Darren Bryant, will continue to have an interest in 56.4 million shares between them, representing 16.6% of the issued share capital of greeting card retailer.
Hayes will retain 13.1 million shares, or 3.8% of capital, and Bryant along with his connected persons will retain 6.4 million shares, or 1.9% of the issued share capital.
The placing will be managed by UBS Ltd and the amount of the proceeds and the placing price will be decided at the close of the bookbuilding period, Card Factory said.
The books for the placing will open with immediate effect, and following completion the selling shareholders have agreed that they will not dispose of further shares in the company for a period of at least three months, Card Factory said.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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