Jet2 PLC - Leeds, England-based airline and package holiday operator - Jet2’s founder and former chair trims his stake in the company in a share sale, bookrunner Jefferies says. Philip Meeson sells 5 million shares, a 2.3% stake, to a ‘limited number of institutional investors’. ‘Philip’s rationale for the transaction has been driven by personal financial considerations alone,’ Jefferies says, adding: ‘He believes there is a great future for Jet2 and he expects to continue as a very substantial shareholder in Jet2 going forward.’
Jefferies doesn’t provide the size of Meeson’s remaining holding. In a stock exchange filing April, Jet2 said Meeson had a 17.7% stake, suggesting his new holding is 15.4%. Meeson founded the current company in 1983 and stepped down as chair a year ago.
No sale price is disclosed either, though based on Jet2’s closing price of 1,470.00 pence on Tuesday, the sale is worth £73.5 million. Jet2 has a market capitalisation of £3.02 billion.
Current stock price: 1,405.00p, down 4.4% in London on Wednesday
12-month change: up 28%
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