Wine entrepreneur trousers upward of £26 million
Majestic Wine co-founder John Apthorp has sold£26 million worth of shares in the retailer. The shares, placed by Teather & Greenwood on behalf of a trust associated with Apthorp and one other member of his family, represents 15 per cent of Majestic's entire issued share capital. Of the 9.55 million shares divested, only 100,000 do not belong to John Apthorp. The deal has reduced Apthorp's personal stake in Majestic to just over 15 per cent, although the trust with which he is associated now owns 24 per cent of the retailer's issued share capital.
The trust has agreed not to sell any more shares in Majestic until the publication of the results for the six months ending September 26 of this year.
Majestic Wine chief executive Tim How said: 'The company will benefit from the improvement in the liquidity in Majestic ordinary shares.'
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