19th Apr 2024 07:55
Fonix Mobile PLC - London-based mobile payments and messaging services for media, telecommunications and other enterprise clients - Founder & Non-Executive Director William Neale, Chief Executive Officer Robert Weisz and other shareholders sell 6.7 million shares at 225 pence, worth GBP15.0 million "in order to satisfy strong institutional demand". This represents a 6.7% stake in Fonix and is 50% more than the planned sale of 4.4 million shares announced after the London market close on Thursday. The placing is run by Cavendish Capital Markets Ltd as an accelerated bookbuild. Of the placed shares, Fonix Mobile buys back 907,000 at the same price.
Fonix notes that the selling shareholders all are members of the concert party of Fonix shareholders, and their placing allows the buyback to take place without increasing that block's ownership percentage. Neale now has 18.9 million shares, a 19% stake, while Weisz has 6.1 million, a 6.1% stake. Richard Thompson, another selling shareholder, now has 7.3 million shares, a 7.4% stake.
Current stock price: 240.00 pence, closed up 5.3% on Thursday
12-month change: up 17%
By Tom Waite, Alliance News editor
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