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IN BRIEF: Cake Box co-founder & CEO sells 7.5% stake for GBP11 million

Thu, 25th Nov 2021 12:40

Cake Box Holdings PLC - Wembley, London-based egg-free cream cake seller - Co-Founder & Chief Executive Officer Sukh Chamdal and spouse Santosh Chamdal sell 3 million shares in Cake Box at 350 pence each, raising GBP10.5 million gross, Shore Capital Stockbrokers Ltd confirms on Thursday. The sale of the 7.5% stake is via an accelerated bookbuild run by Shore that was announced after the market close on Wednesday. The Chamdals retain 9.8 million shares, representing just under a 25% stake, with a six-month lock-up period agreed for these shares.

Current stock price: 370.55p, down 8.5% on Thursday

Year-to-date change: up 75%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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