Breedon chairman resigns, plans sale of 22m shares

Bhatia - Breedon's deputy chairman since April 2018 - will succeed Tom, who has decided the time was right for him to hand over to his successor and retire from the board.

Tom said: "I am delighted that the board has chosen Amit as my successor. With many years of relevant commercial and board experience, I am confident that he will successfully lead Breedon's board to deliver further sustainable value for our stakeholders, as the group continues to develop and grow."

He also revealed his intention to sell approximately 22m shares held on his behalf by Hermco Property, representing 1.3% of the group's issued share capital.

Bhatia, who had already committed to purchasing a minimum of 10m shares at a price of 72p each, has stated that Abicad Holding, of which he is a representative director, would be willing to purchase up to 22m sale shares at the same price.

At 0820 BST, Breedon shares were down 0.27% to 73.80p.