LONDON (Alliance News) - Belvoir Lettings PLC said Chairman Mike Goddard sold 1.25 million shares at a price of 115 pence per share to a number new and existing institutional investors to help satisfy institutional demand Monday.
Following this transaction, Goddard remains beneficially interested in 7.7 million shares, which represents 32.17% of shares in issue.
Commenting on the sale in a statement Goddard said, "I am delighted that we have further expanded Belvoir's shareholder base and improved liquidity. I will continue to hold 32.17% of Belvoir. I am delighted by its performance and remain fully committed to its further development. As such I have undertaken not to sell any further shares for a period of 12 months."
Shares in the real estate services company were down 6.9% at 115.00p Monday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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