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LONDON (Alliance News) - Price comparison site Moneysupermarket.com Group PLC on Wednesday said founder Simon Nixon has sold a 5.8% stake in the company through a share placing, almost half of his holding, and the company said he will step down from the board at the end of the year.
Nixon placed 32.0 million shares at 305.00 pence per share, raising gross proceeds of GBP98.0 million for Nixon. Shares in Moneysupermarket closed at 328.30p on Tuesday.
The plan for the placing, conducted by Credit Suisse, had been disclosed on Tuesday.
Following completion of the placing, Nixon will be subject to a lock-up on its remaining shareholding in the company until the announcement of its 2015 results, due in March 2016. His remaining stake in Moneysupermarket.com is around 6.9%.
In addition, Moneysupermarket said Nixon will step down from his role as non-executive deputy chairman at the end of 2015, following the placing.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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