24th Mar 2016 12:03
LONDON (Alliance News) - Fevertree Drinks PLC Thursday said its co-founders sold around GBP17.7 million worth of shares, "in response to demand from institutional investors", on Wednesday.
Deputy Chairman Charles Rolls sold 1.9 million shares at 635 pence each, leaving him with 17.4 million shares, or a 15.1% stake in the drinks company.
In addition, Chief Executive Officer Tim Warrillow sold 853,816 shares at the same price and now holds 7.7 million shares, or a 6.7% stake.
Rolls and Warrillow founded Fevertree in 2005.
Fevertree specialises in making drinks mixers, namely tonic water served in restaurants and upmarket bars. The group also produces other drinks such as ginger ale and lemonade.
The stock was up 0.9% at 658.75p Thursday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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