Garrett-Cox sells chunk of Alliance Trust shares for £1.5m

Katherine Garrett-Cox, who stepped down as chief executive of Alliance Trust in October, is cashing in some of her chips before Christmas.

She sold 305,683 shares in the company through her spouse Jeremy, netting a total of £1.5m.

That takes her total beneficial interest in the company to 1,333,147 shares, 0.2499% of the company.

Garrett-Cox, who is still chief executive and a director of Alliance Trust’s fund management arm, stepped down from her role as part of a broader board shakeup after a battle with shareholder activist fund Elliott Advisors.

It came after the US hedge fund argued that Alliance Trust's performance has been poor and had campaigned for changes to the board.

The parties reached a truce in April when the company agreed to appoint two of the three candidates Elliott had put forward for positions on the board.

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