Fevertree Deputy Chairman Sells 3.0 Million Shares Through Placing (ALLISS)

23rd Mar 2018 08:31

LONDON (Alliance News) - Fevertree Drinks PLC said on Friday that Non-Executive Deputy Chairman Charles Rolls sold 3.0 million shares at a price of 2,750.00 pence per share through an accelerated bookbuild.

Shares in the drink mixers producer were down 6.3% at 2,770.00 pence on Friday.

The doubled amount of shares issued was due to significant institutional demand, and represents 2.6% of Fevertree's issued share capital.

Following the placing, Rolls now holds 9.9 million shares overall, representing an 8.6% interest in the company.

The placing was managed by Investec Bank PLC as the sole bookrunner.

Rolls has agreed that he will not, without Investec's prior written consent, dispose of further ordinary shares in the company for a period of three months, "subject to certain customary exceptions".

Fevertree will not receive any proceeds from the placing.

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