25th Feb 2019 14:47
LONDON (Alliance News) - Law firm Gateley Holdings PLC on Monday said a group of directors and shareholders have sold 4.0 million shares in the company through a placing at 150 pence each.
Shares in the law firm were down 2.4% at 150.30 pence on Monday.
The shares sold represent 3.6% of the company's total issued share capital, and Gateley itself will not receive any proceeds from the sale, as they were existing shares.
The placing was first announced on Friday last week, and was being undertaken to "satisfy market demand and broaden the institutional investor base of the company".
finnCap Ltd and N+1 Singer Capital Markets Ltd acted as joint bookrunners for the placing.
"As a result of strong institutional investor demand following our recent results, our employees have today placed 4,000,000 shares with both existing shareholders and a significant number of new shareholders. Our newly broadened share register provides a strong and supportive base from which we can continue to grow our business and we welcome new holders onto our register and thank our existing investors for their continued support," said Chief Executive Officer Michael Ward.
Related Shares:
Gateley Holdings