Cenkos Securities founder Andy Stewart has raised £8.2m from the sale of part of his stake in the Aim adviser.
Stewart, who has stepped down from the board this year, has sold 7.64m shares in Cenkos at 107.5p a share. That leaves him with 8.53m shares. His Charitable Trust, the Andy Stewart Charitable Foundation sold a further 200,000 shares at the same price, raising a further £215,000.
The sale price is higher than yesterday’s closing price of 98p. The share price has risen 14.5p to 112.5p, which values Cenkos at £76.8m.
Cenkos chief executive Simon Melling has bought 50,000 of the shares sold. He did not own any shares before. Non-executive directors Oliver Ellingham and Jeff Hewitt bought 30,000 and 4,650 shares respectively.
Stewart and his charitable trust still own 12.1% of Cenkos. He has agreed not to sell any more shares until 20 October 2011.
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