26th Nov 2019 15:27
(Alliance News) - Wey Education PLC said Tuesday its chief executive officer and the director of a subsidiary together have sold 2.8 million shares to an institutional shareholder in order to widen the spread of investors.
CEO Jacqueline Daniell and Paul Daniell, a director of subsidiary Interhigh Education Ltd, jointly agreed to sell the shares in an off-market transaction on Monday for 11.25 pence per share, worth GBP309,375. The stock was down 3.6% on the day Tuesday in London at 12.15p.
The interest of the Daniells in Wey Education following the sale is 10.3 million shares, 7.5% of the total.
"I am encouraged that further institutional shareholders are supportive of our strategy, and the board is pleased that our shareholder base has been broadened," commented Chair Barrie Whipp.
Last week, Paul Daniell exercised options for 1.0 million shares, immediately selling all of them to Whipp and a "supportive shareholder" at 10.75p, Wey Education said.
By Tom Waite; [email protected]
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