Business
Intended Sale of Shares
Intended Sale of Shares.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 3907A Breedon Group PLC 29 May 2019 \n\n \n \n \nNews release\n29 May 2019 \nBreedon Group plc\n(\"Breedon\" or the \"Group\")\nIntended Sale of Shares\nFollowing the announcement earlier today regarding Peter Tom's decision to retire from the Board with immediate effect and to be succeeded by Amit Bhatia as Non-Executive Chairman, Mr Tom has informed the Group of his intention to sell approximately 22 million shares in the issued share capital held on his behalf by Hermco Property Limited (the \"Sale Shares\"), representing 1.3 per cent. of the issued share capital.\nAbicad Holding Limited (\"Abicad\"), where Mr. Bhatia is a representative director, who currently own 17.78 per cent. of the issued share capital, announces its intention to purchase a minimum of 10 million of the Sale Shares at a price of 72.0 pence per ordinary share. Furthermore, Abicad has stated that it would be willing to purchase up to 22 million Sale Shares at the same price.\nThe sale of shares reflects the Board's desire to continue to broaden Breedon's share register in support of its ongoing growth strategy and Abicad's willingness to purchase the Sale Shares reinforces its long-term commitment to the Group.\nBreedon is not a party to the Sale and will not receive any proceeds from the Sale.\nThis announcement contains inside information.\nEnquiries: \n \nBreedon Group plc www.breedongroup.com \nPat Ward, Group Chief Executive 01332 694010 \nRob Wood, Group Finance Director\nStephen Jacobs, Head of Communications 07831 764592 \n \nCenkos Securities plc (NOMAD and Joint Broker)\nMax Hartley &n...