30th May 2023 12:01
(Alliance News) - Aston Martin Lagonda Global Holdings PLC on Tuesday said its chair and a non-executive director had sold a combined total of 37.3 million shares via two investment companies and leaving one, Yew Tree Overseas Ltd, with a 21% stake.
The Gaydon, England-based luxury car manufacturer said Executive Chair Lawrence Stroll on Thursday sold 34.9 million shares for GBP117.0 million at GBP3.35 per share via Yew Tree Overseas Ltd, a British Virgin Islands-incorporated company controlled by Stroll.
Shares in Aston Martin were down 2.1% at 258.80 pence in London on Tuesday.
Stroll, who became Aston Martin's executive chair in April 2020, was part of the Yew Tree consortium which bought an approximate 20% stake in the company that same year.
Meanwhile on Thursday, Non-executive Director Michael de Picciotto sold 2.3 million shares for GBP7.8 million at GBP3.35 each, via Switzerland-incorporated company Saint James Invest SA.
Following the sale, Yew Tree remains Aston Martin's largest shareholder with around a 21% stake. Aston Martin announced two weeks ago that Chinese vehicle manufacturer Geely International Ltd increased its stake to around 17% after buying 42 million shares from Yew Tree at 335p each, while Saudi Arabia's Public Investment Fund continues to have an 18% stake.
By Emma Curzon, Alliance News reporter
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