LONDON (Alliance News) - Amryt Pharma PLC on Tuesday said on Tuesday a company owned by a former non-executive director has sold 8.4 million shares in the company.
Raglan Road Capital Ltd is owned by former Non-Executive Director Cathal Friel and his wife Pamela Iyer.
The shares were sold at a price of 17.00 pence each, giving a total value of GBP1.4 million.
Following the deal, Raglan Road holds 24.7 million Amryt shares, just under 9.0% of the entire company.
Amryt said Friel and his company have entered into a two-year restriction on the sale of their shares.
Over the first twelve months, they will not sell shares apart from in "very limited circumstances". For the following twelve months, they can only sell shares if done through Shore Capital Stockbrokers Ltd.
Amryt shares were 2.6% higher on Tuesday at 17.96 pence each.
