Clipper Logistics PLC (LON:CLG) said a company ultimately controlled by its executive chairman Steve Parkin has sold 11mln shares in the firm at 565p each.

The sale was undertaken by Parker, who founded Clipper, as part of an estate planning exercise and to improve the number of Clipper shares available in the market, i.e. improve liquidity.

The share sale raised roughly £62.2mln for Carlton Court Investments and reduced the company’s stake in Clipper to about 13.9%. The 14.13mln shares held by Carlton Court are subject to a 180-day lockdown restriction.

“I remain as confident and focused as ever in the future growth prospects of Clipper,” Parkin said in a statement.

“Over the last year we have demonstrated our ability to act quickly and effectively to solve complex challenges for our clients, and the growth we have delivered through this period is testament to Clipper’s leading position in the ecommerce logistics market. Following the placing I remain a substantial shareholder in the business and welcome the new shareholders that have come onto the register,” he said.

 

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