Mattioli Woods has announced that on Friday (18 September) its chairman Bob Woods sold 500,000 ordinary shares of 1p each in the company at a price of £6 and 17.16 pence per share, which left him with more than £3m.
He now holds a beneficial interest in 2,573,703 ordinary shares, representing about 10.3 per cent of the wealth management and employee benefits firm’s issued share capital.
Additionally, the company has been informed that its executive director Mark Smith, along with non-executive directors Joanne Lake and Carol Duncumb, have also traded shares.
Ms Lake has purchased 4,100 shares at £6.10 as has Ms Duncumb, whilst Mr Smith purchased shares 2,460 shares at £6.10.
Mr Woods said: “Having founded this business 24 years ago with Ian Mattioli, I am looking forward to helping the business continue to grow strongly at this time of great opportunity.
“This share sale leaves me with over 10 per cent of the company’s equity and I have neither the intention nor desire to consider any further sales for the foreseeable future. I look forward to continuing to play a part in the growth of the business for many years to come.”
ruth.gillbe@ft.com
