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Screenshot of a breaking news alert e-mail from Q2 2017
London Capital Group Holdings plc: (LON:LCG) has announced that the firm’s Executive Chairman Charles-Henri Sabet has purchased 250,000 ordinary shares of 10p each in the Company (“Ordinary Shares”) at a price of 29.50 pence per Ordinary Share.
Following this purchase, Charles-Henri Sabet holds 1,700,000 Ordinary Shares representing approximately 3.02% of the Company’s current total voting rights, representing a further increment in his personal interest in the firm.
At the beginning of the last quarter of 2014, Mr. Sabet provided a £17 million financing package to London Capital Group, which at the time was on the brink of obscurity and had been for some time. Since then, the company has experienced a major rejuvenation under the steerage of avantgarde FX industry figure Charles-Henri Sabet, who attracted some top level executives to the firm, in order to turn it around and establish it in its current state as a technology and liquidity provider.
Since then, Mr. Sabet has implemented some very interesting initiatives, including an employee benefits trust fund, as well as shrewd transactions between GLIO and London Capital Group in order to assist growth whilst remaining prudent. Additionally, Mr. Sabet has been showing a clear interest in the firm for personal investment, an example of which being that Mr. Sabet had paid $227,500 of his own funds to purchase corporate stock in November, followed by an increase in investment in the firm over which he presides to the tune of a further $330,000 and purchasing 1,000,000 ordinary shares of 10p each in the Company at a price of 33p per share in November.
Just a week and a half after purchasing a personal 1,650,000 share stake in the company, Mr. Sabet quickly sold 200,000 of those shares at 33 pence per share, taking his share down to 2.6% from 3.01%, however with this recent purchase, his personal stake is now up to 3.02%.
For the official announcement from London Stock Exchange, click here.