Management of Curtis Banks to sell 13% stake

AIM-listed Curtis Banks said on Thursday that its founding director, chief executive officer and chief financial officer plan to sell around 7.1m shares in the company at 280.25p each.

Founding director Chris Banks will sell around 5.9m shares, or a stake of 11%, while CEO Rupert Curtis will offload approximately 1m shares, or a stake of 1.8%. CFO Paul Tarran, meanwhile, plans to sell a stake of around 0.6%, or 0.3m shares.

The placing shares are being offered by way of an accelerated bookbuild, with Peel Hunt acting as the sole bookrunner.

The company is not party to the placing and therefore it won't receive any proceeds.

At 1220 BST, the shares were down 11% to 300.66p.