16th Nov 2015 16:04
LONDON (Alliance News) - Stride Gaming PLC on Monday said Chairman Nigel Payne bought 5,000 shares in the online gaming operator at 265.00 pence each, giving the non-executive director his first stake in the company.
Monday's purchase represents Payne's entire shareholding in Stride Gaming, equivalent to about 0.01% of the company.
Stride Gaming listed on AIM, the London Stock Exchange's junior market, on May 19, when GBP11.2 million was raised to give the bingo-focused company a value of GBP66.2 million by market capitalisation. Payne was appointed to the board on May 8.
According to the company's admission document, Payne is to be paid GBP30,000 per year. He is required to spend three days per month on company business, the document said.
Merlin Consultancy Ltd, a company through which Payne provided professional services prior to Stride Gaming's admission to AIM, received GBP15,000 in connection with Stride Gaming's admission to AIM and was to receive a performance-related fee of an equal amount.
Shares in Stride Gaming were down 1.9% at 265.00p on Monday afternoon, well ahead of the 132p price of the company's initial public offering.
By Samuel Agini; [email protected]; @samuelagini
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