14th Oct 2021 07:30
Elixirr International PLC - London-based management consultancy - Broker finnCap Ltd places 1.0 million existing Elixirr shares, a 2.3% stake, at 630 pence each, worth GBP6.6 million in total. The placing, conducted by finnCap via an accelerated bookbuild, is "to satisfy strong institutional demand".
"Following a series of meetings requested by both new and existing institutional investors, it became apparent that demand for the ordinary shares was in excess of those readily available for sale," says Elixirr. "The selling directors and selling partners recognise the strategic importance of a strong and supportive institutional shareholder base, hence have decided to release a portion of their own holdings in order to help satisfy this demand."
Company directors and managers sell just over half of the total shares. Chief Executive Stephen Newton sells 124,383 shares but still holds a 30% stake. Chief Financial Officer Graham Busby sells 55,556, retaining a 3.2% holding.
Current stock price: 645.00 pence at London close on Wednesday
Year-to-date change: up 93%
By Josie O'Brien; [email protected]
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