Gear4Music PLC - York, England-based musical instruments retailer - Directors of the company, including Chief Executive Officer Andrew Wass, intend to sell 900,000 shares at 730 pence, worth GBP6.6 million. The shares represent a 4.3% stake in the company. Wass intends to sell 810,000 shares, while Chief Financial Officer Chris Scott, Chief Commercial Officer Gareth Bevan and Non-Executive Director Dean Murray will sell 30,000 each. The sale to institutional investors is to satisfy market demand, the company says. The four directors will continue to hold 6.7 million shares, a combined 32% stake, after the sale.
Current stock price: 720.00p
Year-to-date change: more than doubled from 252.50p on December 31
By Tom Waite; thomaslwaite@alliancenews.com
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Gear4music (G4M)