LONDON (Alliance News) - Victoria PLC said Monday Chairman Geoff Wilding has sold 5.0 million shares in the company via Camden Holdings Ltd to "satisfy excess institutional demand".
Wilding is the settler and a discretionary beneficiary of The Camden Trust, which owns Camden Holdings.
The shares were sold at a price of 827 pence per share, representing 4.2% of Victoria's issued share capital. The stock closed down 1.8% Monday at 835.00p each.
Wilding still holds an interest in 21.4 million shares in Victoria, representing 18% stake.
"The equity placing, which closed earlier today, was significantly oversubscribed and I subsequently agreed to the share sale in order to meet continuing institutional demand, improve the liquidity of Victoria's shares and to further build the company's shareholder base," said Wilding.
"I will not be selling any further shares for the foreseeable future," Wilding added.
Victoria (VCP)