Shoe Zone PLC - Leicester-based value footwear retailer - Jeremy Sharman steps down as deputy chair and non-executive director after nine years and sells entire stake to the company's two controlling shareholders. The Sharman Family Pension fund, of which Sharman is a beneficiary, sells its entire holding of 234,375 shares to investment vehicles of Chair Charles Smith and Chief Executive Officer Anthony Smith at 61 pence a share. Charles Smith's interest in Shoe Zone now is 11.2 million shares, a 22.5% stake, and Anthony Smith's is 14.0 million, 28.1%. Together the chair and CEO hold 50.48% of the company. Shoe Zone replaces Sharman on the board with Victoria Norrish, supply chain director at stationery and crafts store chain The Works.co.uk PLC.
Current stock price: 53.02p
Year-to-date change: down 67%
By Tom Waite; thomaslwaite@alliancenews.com
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Shoe Zone (SHOE)
Theworks.co.uk. (WRKS)