21st Jan 2009 09:46
J D Wetherspoon plc ('the Company')
Persons Disclosing Managerial Responsibilities ('PDMRs') Disclosures
Following the clarification on 9 January 2009 from the FSA regarding disclosure and model code obligations in respect of the use of shareholdings as security, the Company announces that it was previously informed by Tim Martin, Chairman, that he had pledged 3.6 million of his shares in the Company as security for a facility with RBS.
The Company has been advised by Tim Martin on 20 January 2009 that he sold 500,000 ordinary shares in the Company at 309.5p per share on 20 January 2009 and that the proceeds will be used to repay the balance of the facility to RBS; the security over any shares is in the process of being released. Following this transaction, Tim Martin now holds 33,309,934 ordinary shares in the Company representing 24.0% of the Company's issued share capital.
Related Shares:
Wetherspoon (J.D)