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Card 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: £1.55

Market: LSE
Market Cap: £528.38 m
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