Gear4music directors sell £6.5m shares in York firm

Gear4music, the York-based online music equipment retailer, said on Tuesday that four of its directors sold in aggregate 900,000 shares at a price of 730p per share to raise about £6.57 million.

CEO Andrew Wass sold 810,000 of the 900,000 shares for about £5.9 million.

Wass retains about 6.35 million shares in the firm — about 30.3% of the equity — worth roughly £46 million at Tuesday’s stock price.

Gear4music’s share price has soared about 270% in the past year as sales of musical instruments soared during lockdown.