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IN BRIEF: Frasers's Ashley buys spread bet after put options exercise

24th May 2023 15:29

Frasers Group PLC - Shirebrook, England-based owner of House of Fraser, Sports Direct and Flannels retail chains - Put options sold by Founder Mike Ashley over 250,000 shares that were set to expire in September are exercised at GBP9.00 per share, worth GBP2.3 million. Ashley settles the exercise through the purchase of a spread bet equivalent to 250,000 shares at GBP9.01, also worth GBP2.3 million. Ashley also buys a spread bet equivalent to 100,000 shares at GBP7.18, worth GBP717,645. All three transactions are on Tuesday. Ashley has a 71% voting interest in Frasers.

Current stock price: 703.50 pence, down 1.9% in London on Wednesday

12-month change: up 11%

By Tom Waite, Alliance News editor

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