AJ Bell Senior Management Cash In With GBP25 Million Share Sale

(Alliance News) - Numis Securities Ltd confirmed on Wednesday that senior employees at ...

Alliance News 11 December, 2019 | 9:13AM
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(Alliance News) - Numis Securities Ltd confirmed on Wednesday that senior employees at stockbroker AJ Bell PLC have sold shares worth GBP25 million.

Late Tuesday, Numis said some directors, senior managers, and other employees of AJ Bell were planning to sell up to 6.4 million shares, representing a 1.6% stake in AJ Bell.

Early Wednesday, it said the shares were sold at 400 pence each, netting the sellers GBP25.7 million in total. AJ Bell is not getting any proceeds from the sale, as they are existing shares.

AJ Bell shares were 3.2% lower on Wednesday morning in London at a price of 392.14p each.

A week ago, the FTSE 250 company posted a 17% rise in revenue for the year to September, helping it to a "record" rise in pretax profit of 33% to GBP37.7 million. The company, which listed at 220p in December 2018, said the results were "excellent".

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
AJ Bell PLC 386.00 GBX -0.39 -

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