Telecom Plus Chair Wigoder And Director Lawson To Sell Shares

(Alliance News) - Peel Hunt LLP on Thursday said Telecom Plus Chair Charles Wigoder, the Wigoder ...

Alliance News 25 June, 2020 | 5:29PM
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(Alliance News) - Peel Hunt LLP on Thursday said Telecom Plus Chair Charles Wigoder, the Wigoder Family Foundation and Non-Executive Director Melvin Lawson intend to sell a total of 2.5 million shares in the utilities supplier.

The shares - which represent around 3.2% of Telecom Plus's share capital - are being offered by way of an accelerated bookbuild in which Peel Hunt and Numis Securities Ltd are acting as joint bookrunners.

Prior to the placing, Wigoder had a 15% stake, the foundation held 5.2% and Lawson had a 2.7% stake. The remainder of Telecom's shares held by the three parties following the placing will be subject to a lock-up which ends 12 months after completion of the placing.

Telecom Plus will not receive any proceeds from the sale of shares.

The stock closed 2.0% lower at 1,446.00 pence each on Thursday in London, and 4.9% lower than at the start of the year.

By Ife Taiwo; ifetaiwo@alliancenews.com.

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Telecom Plus PLC 1,326.00 GBX 0.45 -

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