Parties associated with Charlie's Group Limited (NZSX: CHA) founding shareholders Stefan Lepionka, Marc Ellis and Simon Neal have today sold a combined 15.31 million ordinary shares in the company at 18c per share.The shares, worth $2.76 million, have bee
Parties associated with Charlie’s Group Limited (NZSX: CHA) founding shareholders Stefan Lepionka, Marc Ellis and Simon Neal have today sold a combined 15.31 million ordinary shares in the company at 18c per share.
The shares, worth $2.76 million, have been sold to institutional and private investors, who wanted a bigger stake in the company but have been unable to buy enough shares on-market to satisfy their needs.
This sell-down represents a 5.21% reduction in shareholding between the three founders.
Along with the company’s long-standing largest cornerstone shareholder Collins Asset Management, the major shareholders have a total of 51.62% of the group.
Charlie’s chief executive Stefan Lepionka said, “This decision has not been an easy one for any of the founding shareholder’s to make, however our personal financial commitments have changed significantly over the last eleven years since we started the business.
“The three of us started this business in our late twenties, with few financial and personal responsibilities.
“Between the three of us we will soon have eight children to provide for and the opportunity to sell to some of New Zealand’s key investment institutions is a good opportunity for both the company and the founding shareholders.”
