21st Feb 2020 16:49
(Alliance News) - Honeycomb Investment Trust PLC on Friday said two major shareholders completed their combined sale of 13.1 million shares in the company at 850 pence per share.
The announcement of the GBP111.0 million deal came earlier on Friday, with the two unnamed shareholders selling the shares at a 8.1% discount to Honeycomb's 925.00p Thursday closing price.
Shares in Honeycomb ended 0.1% lower at 924.00 pence in London on Friday.
As part of the sale, Honeycomb and its investment manager Pollen Street Capital Ltd authorised one major shareholder to sell its remaining 6.0 million shares in the trust, taking its stake to zero.
The shares to be sold represented 35% of Honeycomb's entire issued share capital, but Honeycomb did not receive any proceeds as it was not a party to the sale.
By Anna Farley; [email protected] and Dayo Laniyan; [email protected]
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