UPDATE: Applied Nutrition CEO and COO increase share sale to 7 million
Applied Nutrition PLC - Liverpool-based sports nutrition and wellness products - Chief Executive Officer Thomas Ryder and Chief Operating Officer Steven Granite sell 7.0 million shares in total, a 2.8% stake in Applied Nutrition, via a placing run by broker Panmure Liberum Ltd. The shares are sold at 275 pence each, making the disposal worth GBP19.3 million. Ryder and Granite held a 40.1% stake in the company between them. Following the sale, CEO Ryder remains the company's largest shareholder at 32.5%. Applied Nutrition doesn't provide the resulting shareholding of COO Granite. It notes that the sale is the first by the two executives since Applied Nutrition's London listing two years ago. They have agreed to sell no further shares for at least 180 days.
The placing is via an accelerated bookbuild to institutional investors that was first announced by Panmure Liberum after the London market close on Thursday. The sale originally had been set at 6.0 million shares. The company will receive none of the proceeds as the sale is of existing shares.
Current stock price: 293.00 pence
12-month change: up 80%
By Tom Waite, Alliance News editor
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