Posted: Wed 25th Mar 2015

Founder of Ewloe based Moneysupermarket.com abandons £100m share sale.

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Wednesday, Mar 25th, 2015

Simon Nixon the founder of Moneysupermarket.com announced yesterday he was to sell a 6.4% stake in the Ewloe based company he set up in 1999. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

A statement released by the company on Tuesday afternoon said Mr Nixon was to sell 35m of shares reducing his stake by 10%. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

However, another statement was released this morning simply saying; ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Further to yesterday afternoon’s announcement, Simon Nixon has decided not to proceed with the proposed sale of shares.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The surprise u-turn has saw shares fall at one point by 7% however as the morning wore on they started to bounceback. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Screenshot from 2015-03-25 12:44:39Speculation in the city and by some financial commentators suggest Mr Nixon may not have been able to achieve the desired price for the shares. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Nixon has to date sold £400m of shares since the company was floated on the stock market in 2007. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

There has been no comment from either Moneysupermarket.com of Citigroup who were handling the sale as to why the sale was halted. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Feature Image: stantonphotographic.com ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​


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