15th Jan 2014 13:17
LONDON (Alliance News) - SuperGroup PLC Director of Europe, Luc Clements, the owner of French business CNC Collections which the company acquired in 2011, Tuesday cashed in on another GBP1.57 million of the proceeds by selling some of the shares he got as part of the deal.
Clements joined SuperGroup when the company bought the French fashion house for EUR40 million in February 2011 and has been head of its European operations since.
He was paid EUR7 million in cash for CNC and also got 1.16 million shares at 1,547.26 pence each. He was also to be given up to 662,876 further shares over the following three years depending on the performance of the business, and received 220,959 of those in February last year. The remainder are due in February 2014 if the target are met.
In a filing to the London Stock Exchange, SuperGroup said Clements sold 100,000 shares in the company at a price of 1,566.61 pence a share on Tuesday, leaving him with 415,064 shares, or about 0.5% of the total shareholding.
The price for the sale of the 100,000 shares implies a profit of GBP19,350 on the price he was awarded the shares initially.
He had previously sold 100,000 shares at 1,473.25 pence each January 3, giving him GBP1.47 million, but at a GBP74,010 discount to the price he was initially awarded the shares.
The company's shares were up 0.7% at 1,567.00 pence Wednesday afternoon.
By Tom McIvor; [email protected]; @TomMcIvor1
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