26th Nov 2019 18:49
(Alliance News) - Frontier Developments PLC said Tuesday the wife of Chief Executive David Braben, Wendy Irvin-Braben, has sold 1.3 million shares in the firm.
Irvin-Braben sold the shares at 1,200 pence each, for a total of GBP15.0 million. Shares in Frontier Developments closed 2.6% higher in London on Tuesday at 1,248.00 pence each.
The sale represents about 3.2% of the company's issued share capital. Irvin-Braben will hold a 1.9% interest in Frontier Developments following the sale. Including her husband, the Braben's will hold an interest in 12.9 million shares following the sale, representing a 33% stake.
The company said both David Braben and Wendy Irvin-Braben have undertaken they will not sell any further shares in the next year - unless given written consent by Jefferies International Ltd and Liberum Capital Ltd.
By Paul McGowan; [email protected]
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