LONDON (Alliance News) - Construction and engineering consultancy Driver Group PLC on Friday said its former chief executive has increased his stake in the company as part of the settlement arrangements agreed when he resigned.
Webster stepped down from the CEO role in March but retained a position as a non-executive director of the company.
As part of his settlement arrangements, he has agreed to subscribe for 600,000 shares in Driver at 60.00 pence per share, a deal worth GBP360,000.
This will give Webster 2.9 million shares in the company, or a 9.0% stake.
Shares in Driver were untraded Friday morning, having last traded at 35.50p.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Driver Grp (DRV)