LONDON (Alliance News) - Card Factory PLC Friday said some of its directors and members of its senior management team have sold 14.8 million shares in the company at 330 pence each, representing approximately 4.3% of its issued share capital.
At that price, the offering is worth GBP48.8 million. Card Factory's shares were trading down 8.5% at 328.95 pence, the worst performer on the FTSE 250 Friday morning.
Earlier on Friday, the greeting card retailer said that some directors would sell a 2.2% stake in the company via an accelerated bookbuild placing of 7.4 million shares.
The selling shareholders, which include Chief Executive Richard Hayes and Chief Financial Officer Darren Bryant, continue to have an interest in 49.1 million shares between them, representing 14.4% of the issued share capital.
Hayes sold 2.9 million shares and now has a holding of 3.4% of the company's issued share capital. Bryant, along with his connected persons, sold 1.4 million shares and now has a total holding of 1.7%.
Under the terms of the placing agreement, the selling shareholders have agreed not to dispose of further shares in the company for a period of at least three months, Card Factory said.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Card Factory (CARD)