Brodnicki, the firm’s controlling shareholder, walked away from the deal with a cool £14.4m following a stellar rise in the share value from 180p when the company listed just 18 months ago.
Mortgage Advice Bureau chief executive Peter Brodnicki has pocketed £14.4m following the sale of more than 18,000,000 ordinary shares in the firm he founded in 2000.
A total of 7,569,240 ordinary shares, approximately 15% of the company's issued share capital, were sold by several directors and shareholders to institutional investors in a placing managed by Canaccord Genuity Limited and Zeus Capital Limited.
The shares were placed priced at 360p per share.
Brodnicki, the firm’s controlling shareholder, walked away from the deal with £14.4m following a stellar rise in the share value from 180p when the company listed just 18 months ago.
Other directors and shareholders including David Preece, Paul Robinson, Michelle Draycott, Simon Blunt, Richard Palmer, Gareth Herbert and Simon A Frankish were also listed on the London Stock Exchange as having sold significant shareholdings in the deal.
On Tuesday MAB’s share price was 405p but in trading yesterday it dived 12% to 358p.
It has since recovered to 360p.
