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Sanderson Group

  • BY: Andrew Hore |
  • POSTED: 01/02/2010 |

Christopher Winn, the executive chairman of Sanderson Group, has bought most of Alchemy’s stake in the enterprise software provider. 

Winn spent £2.15m to buy the 10.76m shares at 20p each. This was above the market price at the time. The share price has risen 2p to 20p, which values Sanderson at £8.68m.

Winn led the management buy out of Sanderson in 1999 and also the flotation of Sanderson Group five years later. The purchase takes his stake from 5.16% to 29.97%. He could not have bought many more shares without being obliged to make a mandatory bid for Sanderson.

Private equity firm Alchemy was involved in the management buy out of Sanderson, which was split into three companies including Sanderson Group. The 2004 placing price was 50p a share. Existing shareholders raised £8m in the flotation and a significant chunk of that went to Alchemy.

Alchemy still owns 1.238% of Sanderson after the transaction. The second biggest shareholder in Sanderson is Framlington with 7.8%.

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