23rd Sep 2013 13:23
LONDON (Alliance News) - red24 PLC, a provider of risk management services, said Monday that Financial & General Securities Limited sold 240,000 shares red24 on Friday at a price of 15.75 pence per share.
red24 Chairman Simon Richards is a director and a shareholder in FGSL, but red24 said FGSL's trading decisions are taken independently of Richards.
Following the sale, FGSL has a holding of 260,000 shares. Richards now has interests in 14.3 million red24 shares, including the remaining holding of FGSL, representing 29.1% of the company's issued share capital. It said the vast majority of these, some 13.4 million shares, are held by Sidebell Limited, a company in which Richards is also a director and shareholder.
Red24 shares were quoted Monday at 16.00p per share, up 0.25p or 1.6%.
By Tom Waite; [email protected]; @thomaslwaite
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