LONDON (Alliance News) - Curtis Banks Group PLC said on Thursday its management sold 7.1 million shares at a price of 280.25 pence per share, at a total of GBP20.0 million.
Shares in the financial services company closed down 10% at 302.00 pence on Thursday.
Founder and strategic advisor Chris Banks sold 5.9 million shares, and now holds 14.7 million shares, or a 27% interest in the company.
Chief Executive Officer Rupert Curtis disposed of 977,600 million shares, giving him a total shareholding of 12%, or 6.4 million shares.
Finally, Chief Financial Officer Paul Tarran sold 293,280 shares, meaning he now holds 3.5 million shares in total, or a 6.5% stake.
The shares sold collectively represents 13% of Curtis Banks's issued share capital.
The placing was conducted through an accelerated bookbuild, with Peel Hunt LLP acting as sole bookrunner.
The company will not receive any proceeds from the placing, as it was of existing shares.
