LONDON (Alliance News) - Character Group PLC said Thursday that Kiran Shah and Jon Driver, its joint managing directors and finance director and marketing director, respectively, sold 2.4 million shares at 510 pence per share "in response to demand from institutional and other investors".
Character, which designs and distributors toys and games, said Sarissa Holdings Ltd, in which Shah has a beneficial interest, sold 1.8 million shares Thursday. Following the sale, Shah is interested in 2.3 million shares, representing 10.58% of Character's total.
The AIM-listed company also said Driver exercised options over 750,000 shares held in treasury and sold 600,000 of them. His interest in Character is now 6.28%.
Together the two sales had a value of GBP12.4 million.
Character shares ended down 0.6% at 510.00p on Thursday.
By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite
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Character (CCT)