JD Wetherspoon PLC - Watford, England-based pub company - Chair Tim Martin sells 4.4 million shares at 1,150 pence each, in a deal worth around GBP50.3 million on Tuesday. Company says sale was in response to significant buying interest following the share placing last week. Martin's holding in the company now comprises 28.2 million shares which is 22% of the issued share capital of the pub operator.
In addition, Martin has agreed to a lock up arrangement on his remaining shareholding that runs until the release of the announcement of the company's annual results that is expected in September.
Current stock price: 1,168 pence
Year-to-date change: up 4.7%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Wetherspoon (J.D) (JDW)