7th Aug 2018 10:39
LONDON (Alliance News) - Carbonated beverage maker Fevertree Drinks PLC said Tuesday that its founders sold 3.0 million shares at a price of 3,450 pence per share through an accelerated bookbuild.
Chief Executive Officer Tim Warrillow and Non-Executive Deputy Chairman Charles Rolls had initially intended to sell a combined 2.0 million shares but, in response to "significant institutional demand", this was raised to 3.0 million with Warwillow selling 1.0 million and Rolls selling 2.0 million shares.
Given the figures provided, the bookbuild was worth GBP103.5 million to the founders. Fevertree will receive no proceeds from the placing, as it was of existing shares
The shares sold represented 2.6% of the company's issued capital. Rolls' holding in Fevertree is now 8.2 million shares, equivalent to a 7.1% stake. Warwillow's holding is 5.5 million shares or a 4.7% stake.
Shares in Fevertree were down 3.1% at 3,567.00 pence on Tuesday.
Related Shares:
Fevertree