AJ Bell bosses sell shares for £25.7m

UPDATE — Manchester-based investment platform AJ Bell said on Tuesday that 14 of its directors, executives and “persons closely associated with them” indicated their intention to sell up to 6.4 million ordinary shares of the firm.

The sale represents about 1.6% of the company’s existing issued ordinary share capital.

Those selling shares in the placing include chief financial officer Michael Summersgill, chairman Leslie Platts, group finance director Roger Stott and chief risk officer Louis Petherick.

Bookrunner Numis Securities added on Wednesday: “Further to yesterday’s announcement, certain directors, senior managers and employees of the company, announce that, subject to completion, they have sold in aggregate 6,422,905 ordinary shares in AJ Bell at a price of 400 pence per share, raising aggregate gross proceeds of approximately £25.7 million.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.