29th Jan 2015 17:21
LONDON (Alliance News) - Shoe Zone PLC Thursday said that Humberzone Ltd, controlled by Chief Executive Anthony Smith and Chief Operating Officer Charles Smith, Thursday transferred 27.5 million shares in the company, representing a 55% stake, to Slawston Investments Ltd and Sheepy Magna Investments Ltd.
Slawston Investments and Sheepy Magna Investments' stake amounts to the 27.5 million shares transferred. Slawston Investments will hold 15.3 million shares, while Sheepy Magna Investments will hold 12.2 million shares.
Slawston Investments is controlled by Anthony and Catherine Smith, while Sheepy Magna Investments is controlled by Charles and Sian Smith.
The beneficial ownership of the 55% stake in Shoe Zone PLC remains with the Smith family.
Shoe Zone, a value footwear retailer, arrived on the London Stock Exchange's junior market, AIM, in a secondary offering that raised GBP36 million for the seller, Shoe Zone Group.
Following the disposal of the 27.5 million shares, Humberzone, formerly known as Shoe Zone Group Ltd, has no shares in the company.
Humberzone is likely to be placed into members' voluntary liquidation, according to Shoe Zone.
In the UK, such a process is available to companies that can pay their debts but want to wind down.
Shoe Zone shares were up 1.0% at 250.00 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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