LONDON (Alliance News) - Housebuilder Telford Homes PLC said Joint Managing Director John Fitzgerald sold 25,000 shares at a price of 416.5 pence per share Wednesday, as part of a series of share sales to raise funds for a divorce settlement.
In addition Fitzgerald sold 100,000 shares on Tuesday at 421.375p each. He had previously sold 50,000 and 100,000 shares last Wednesday and the Friday prior, respectively.
The company said the share sales were required for Fitzgerald to fulfil a personal financial commitment as part of a divorce settlement. Wednesday's sale is the last in the series of recent sales relating to his divorce settlement, and no further sales will be undertaken, Telford said.
In total, Fitzgerald sold 275,000 shares, raising about GBP1.2 million before expenses.
Following this transaction, Fitzgerald retains 107,718 shares in the company, representing approximately 0.18% of the company's issued share capital.
The stock was trading up 0.9% at 417.73p Wednesday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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