Sharecast News
25 Nov, 2021 10:10

Cake Box slumps as CEO and spouse sell 3m shares

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Cake BoxSharecast graphic / Josh White

Cake Box shares slumped on Thursday after the company’s chief executive and his partner sold 3m shares in a placing.

The shares were sold by CEO Sukh Chamdal and his spouse Santosh Chamdal at 350p each, raising gross proceeds of around £10.5m.

The placing was conducted through an accelerated bookbuild, with Shore Capital Stockbrokers acting as sole bookrunners.

Following completion of the placing, the sellers will hold around 9.79m ordinary shares in the company, representing approximately 24.47% of the issued share capital.

At 1010 GMT, the shares were down 8.2% at 372.00p.


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Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.