logo-loader
viewCard Factory

Card Factory bosses to sell 7.4mln shares

Just over a year after the company floated, senior figures at Card Factory are reducing their holdings in the company

CARD-FACTORY-27-RS.jpg
Card Factory

“Congratulations on reducing your stake in the company” could be the new greetings card on its way to senior figures at Card Factory (LON:CARD).

Various directors and members of the card seller’s senior management team are selling, in aggregate, 7.4mln shares, representing around 2.2% of the Card Factory shares in issue.

The shares will be placed with institutional investors.

If the placing goes ahead, the sellers would still control 16.6% of the company’s shares, with chief executive officer Richard Hayes holding 3.8%, and chief financial officer Darren Bryant controlling 1.9%.

The sellers have agreed not to offload any more Card Factory shares for at least another three months.

Card Factory came to the market just over a year ago, with the shares floated at 225p. At last night’s close, the mid-market price of the shares was 359.5p.

Quick facts: Card Factory

Price: 89.75 GBX

LSE:CARD
Market: LSE
Market Cap: £306.54 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Bull, Bears & Brokers: Shaw and Partner’s Davide Bosio talks about market...

Shaw and Partners WA state manager Davide Bosio updates Proactive on how share prices plunged this week, with stock market jitters in light of the coronavirus scare. Bosio gives his advice on how investors can protect their portfolios and takes a look at solid investment options during times...

10 hours, 37 minutes ago

2 min read