19th Sep 2013 08:10
LONDON (Alliance News) - Norcros PLC said Thursday that Lifestyle Investments PVT Limited, a shareholder connected to non-executive director Vijay Aggarwal, sold 145.7 million shares at a price of 18.5 pence apiece on Wednesday.
The sale represents just under 25% of the consumer products company's total shares and is worth GBP27.0 million. Norcros didn't identify the buyer of the shares.
Following the sale, Lifestyle Investments holds no further interest in Norcros. Aggarwal represented Lifestyle Investments at Norcros and will resign as a director with effect from Friday, the company said.
Nocros shares were quoted early Thursday at 20.46 pence, up 0.96p or 4.9%.
By Tom Waite; [email protected]; @thomaslwaite
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