JD Wetherspoon chairman Tim Martin has sold about £1.5m worth of shares to repay the balance of a loan, which he had previously secured with shares.
Wetherspoon said it was previously informed by Martin that he pledged 3.6m shares in the company as security for a facility with RBS.
On Tuesday, Martin sold 500,000 shares at 309.5p each to repay the balance of the loan. The group said the security over any shares is in the process of being released.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Martin now holds 33m shares, representing 24% of the group.
Top Director Sells
Value: £1,547,500
Top Director Buys
Value: £1,241,874
Value: £23,364
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
