13th May 2016 12:50
LONDON (Alliance News) - FTSE 250 lender Shawbrook Group PLC Friday said a group of directors and senior executives sold around 2.7 million shares for about GBP6.9 million on Thursday following the expiry of a lock up period.
The shares were all sold on Thursday at 258 pence each.
The company said following the one year anniversary of the initial public offering, its executives became entitled to sell up to one third of their shareholdings. Shawbrook listed on the London Main Market in April last year.
Deputy Chief Executive Officer Stephen Johnson sold 1.2 million shares along with a Clare Johnson, a connected person, who sold 11,000 shares. Stephen Johnson now holds 2.6 million shares.
Chief Financial Officer Tom Wood, together with Jennifer Wood, sold a total of 685,710 shares. The sale reduces the Woods' holding to 1.4 million shares.
Philip George, head of business development, sold 667,659 shares and now holds 1.3 million shares.
General Counsel Daniel Rushbrook, together with Helen Rushbrook, sold 30,000 shares. After the sale Daniel Rushbrook holds 100,398 shares.
Following the sales, the remaining two thirds of the shareholdings remain subject to lock-up arrangements, expiring in April 2017 and April 2018, the company added.
The stock was down 1.2% at 258.00p Friday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
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