22nd Dec 2015 12:53
LONDON (Alliance News) - Peel Hunt on Tuesday said it is acting as the bookrunner as Peter Johnson looks to sell a 27.3% stake in Park Group PLC, the company he founded and chairs, for GBP32.6 million.
The chairman is seeking to sell 50.2 million shares in Park Group, a multi-retailer voucher and prepaid gift card business, at 65.0 pence each, in an accelerated bookbuild with institutional investors.
Arden Partners is the lead manager on the placing. The books are due to be closed by 1700 GMT Tuesday.
The stake is held through the 1989 Peter Johnson Settlement Trust, Huntress Nominees, and the Johnson Foundation.
The chairman has a beneficial interest in the 1989 Peter Johnson Settlement Trust and Huntress Nominees, and a non-beneficial interest in the Johnson Foundation.
Shares in Park Group were down 9.0% at 68.00p on Tuesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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