16th May 2016 14:43
LONDON (Alliance News) - Phoenix Spree Deutschland Ltd said Monday that PMM Partners (UK) Ltd, the property advisor to Phoenix Spree, Non-Executive Director Matthew Northover, and other shareholders sold a 5.1% stake in the German real estate investor.
The sellers are disposing of the shares to satisfy some tax charges triggered by the completion of the company's restructuring in February and for "financial planning reasons", the company said.
The shareholders sold a total of 4.7 million shares at a price of 180.095 pence per share. Shares in Phoenix Spree were up 0.5% at 181.36 pence Monday afternoon.
PMM Partners sold 923,096 shares, its entire holding the company, whilst Northover sold 649,997 shares, leaving him with 460,016 shares in the company or a less than 1.0% stake.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
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