3rd Apr 2020 12:43
(Alliance News) - Wealth manager Quilter PLC on Friday said Quilter Cheviot Chief Executive Andrew McGlone bought 90,441 shares following the sale of shares by associate Melanie McGlone.
Melanie sold 10,881 Quilter shares at GBP1.097 per share for a total of GBP11,936 on Thursday. Shortly after this, Andrew bought 90,441 shares at the same price for GBP99,214.
"The substance of the transactions is that Mrs McGlone sold shares held in her own name and Mr McGlone bought back a greater number of shares in an ISA," Quilter said.
On Monday, Quilter extended the length of its share buyback programme to May 29 from May 6. It began the programme to repurchase up to GBP375 million of its stock to reduce its share capital in March. This was initially scheduled to close on May 6, though Quilter explained it had been extended to May 29, "to provide additional flexibility in administering the programme during volatile markets".
As of Friday's close last week, Quilter had repurchased GBP27.9 million of its shares.
By Anna Farley; [email protected]
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