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DIRECTOR DEALINGS: Camper & Nicholsons Directors Sell Up (ALLISS)

LONDON (Alliance News) - Camper & Nicholsons Marina Investments PLC said on Thursday its ...

Alliance News 7 December, 2017 | 12:40PM
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LONDON (Alliance News) - Camper & Nicholsons Marina Investments PLC said on Thursday its majority shareholder has increased its stake in the company with three directors all selling up, a day after it announced its intention to delist from the London Stock Exchange.

Camper said First Eastern Holdings bought 23.8 million shares in the company on Wednesday at a price of 8.50 pence each, with Camper shares up 6.3% Thursday at 8.50p.

First Eastern, who Camper said yesterday had agreed to buy the shares previously, now holds 111.2 million shares in the company, representing 54% of its share capital.

Camper now holds 51.8 million shares, a quarter of its share capital.

The company also said Thursday Chairman Christopher Lewinton and Directors Martin Bralsford and Clive Whiley all sold their entire stakes in the company on Wednesday.

Lewinton sold 5.2 million shares, Bralsford 5.9 million shares, and Whiley 2.8 million shares, all at the price of 8.50p per share.

The investment firm said on Wednesday it has reviewed its listing in London and decided to cancel its admission "in the best interests of the company and its shareholders as a whole".

The marina operator said it will ask for shareholder permission to delist from AIM on January 2, 2018. If passed, cancellation will occur on January 10.

Directors and major shareholders have already pledged enough support to mean the resolution is likely to pass, committing a combined 74.18% stake to vote in favour of delisting.

In September, the company posted a widened loss to EUR598,000 from EUR395,000 for the six months to June in what it said at the time was a difficult market.

By George Collard; georgecollard@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Camper & Nicholsons Marina Ord 8.00 GBX 0.00 -
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