Telecom Plus non-executive chairman, other shareholders to sell 4.4% stake

Broker Peel Hunt said on Monday that Charles Wigoder, the non-executive chairman of Telecom Plus, the Wigoder Family Foundation and a number of other smaller shareholders in the company plan to sell around 3.5m shares in a placing.

The shares, which represent a stake of around 4.4%, are being offered by way of an accelerated bookbuild, which will be launched immediately.

Peel Hunt and Numis are acting as joint bookrunners.

Telecom Plus - which trades as Utility Warehouse - is not a party to the placing and will not receive any of the proceeds.