29th May 2019 13:23
LONDON (Alliance News) - Construction materials group Breedon Group PLC said Wednesday that former Chair Peter Tom has sold 22 million shares in the company for GBP15.8 million in total.
The shares were sold by Tom at a price of 72 pence per share. Of these shares, Chair Amit Bhatia subscribed for 10 million shares through Abicad Holdings Ltd, in which Bhatia is the representative director.
Following this purchase, Abicad will have a holding of 308.9 million shares, reflecting a 18% interest in Breedon. Tom meanwhile now holds 21.5 million shares overall in the company, representing a 1.3% holding.
Tom confirmed that he has no current intention to dispose of any more shares.
Earlier on Wednesday, Breedon had promoted Bhatia to the role of non-executive chair from deputy chair, replacing Tom after nine years in the role.
Shares in Breedon were down 1.0% at 73.25 pence on Wednesday.
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