3rd Apr 2014 09:01
LONDON (Alliance News) - St. Modwen Properties PLC Thursday said members of the Clarke and Leavesley families, its largest shareholders, have sold about 8.3 million shares in the company at 380 pence each.
The shares represent a 3.75% stake in the company.
St. Modwen said the Clarke family retain an 8.4% stake in the company, while the Leavesley family hold a 7.26% stake following the sale.
As part of the disposal, Non-Executive Director Simon Clarke, the son of St Modwen founder Stanley, sold 1.5 million shares, also at 380 pence.
Simon Clarke represents the Clarke and Leavesley families on the board.
He will retain a 1.41% stake in the company.
St. Modwen said the share sellers have agreed to now sell any more shares for 90 days without the prior written consent of JP Morgan Cazenove and Numis Securities Ltd.
St. Modwen shares were Thursday quoted at 381.50 pence, down 3.9%.
By Samuel Agini; [email protected]; @samuelagini
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