Persimmon chairman Duncan Davidson has reaped nearly £3.6m from the sale of a chunk of his shareholding in the housebuilder
Davidson sold 800,000 shares at an average price of 448p. But this still left him with a stake comprising 16,605,830 shares – 5.9% of the issued share capital of Persimmon.
If these remaining shares were sold at the same price, Davidson would raise £74.4m. But, in a statement to the stock exchange, Persimmon said: "Mr Davidson has informed the company that he has no present intention of selling further shares."
The announcement, made last Friday, had little impact on a good week in the City for Persimmon; its share price rose 6.9% to 465p. Lynn Wilson, deputy chairman of Wilson Connolly, made £945,000 on Tuesday after disposing of 500,000 shares at 189p each.