LONDON (Alliance News) - Frenkel Topping Group PLC on Thursday said a company whose largest shareholder is Chief Investment Officer Jason Granite bought just shy of 1.6 million shares in the AIM-listed independent financial adviser and asset manager.
FCFM Group Ltd bought the shares at 45 pence each, Frenkel Topping said in a statement.
Of the 1.6 million shares bought by Frenkel Topping, 582,156 were sold by Liberty SIPP Ltd, a company of which Frenkel Topping Chief Financial Officer Julie Dean is a director. Another 500,000 shares were sold by Ian Currie, a major shareholder in Frenkel Topping and the majority shareholder of Liberty SIPP.
Jason Granite now has an interest in 11.8 million Frenkel Topping shares, a 15.83% stake, while Dean has an interest in 1.3 million shares for a 1.73% stake.
Ian Currie now has an interest in 5.0 million shares, equivalent to 6.76% of Frenkel Topping.
On March 31, Granite bought 227,272 of the 454,544 shares sold by Chief Executive Officer Richard Fraser that day, at 55p per share, according to a previous announcement by Frenkel Topping.
Shares in Frenkel Topping were down 10% at 45.75 pence on Thursday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Frenkel Topping (FEN)