(Alliance News) -Â Cerillion PLC on Monday said co-founder Guy O'Connor and Chief Financial Officer Oliver Gilchrist have sold a combined 2.7 million shares in the company in response to investor demand.
O'Connor, currently director strategic accounts at Cerillion, sold 2.4 million shares and Gilchrist 352,895 shares. The placing was priced at 255 pence each, a 20% discount to Monday's closing price of 319.00p and making the sale worth GBP6.9 million in total.
In total, the shares represent 9.3% of the billing and customer relations management software firm's issued share capital. The company was not a party to the placing and will not receive any proceeds.
Liberum is acted as sole bookrunner.
Following the sale, O'Connor no longer holds any shares in the company and Gilchrist retains a 1.2% stake.
By Lucy Heming;Â lucyheming@alliancenews.com
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Cerillion (CER)