(Sharecast News) - Two board members of Applied Nutrition have sold nearly £20m of shares in the sports supplements manufacturer, the company revealed on Friday, as part of the first placing since its 2024 IPO.
The company reported that chief executive Thomas Ryder and chief operating officer Steven Granite sold a combined 7m shares at 275p each, representing around 2.8% of the issued share capital.
Ryder, who is Applied Nutrition's largest shareholder, sold 4.5m shares, raising £12.4m, leaving him with a 32.46% holding in the company. Meanwhile Granite offloaded 2.5m, raising £6.9m.
"This represents the first sale of shares for the selling shareholders since the company's IPO in October 2024 and diversifies their asset base," the company said.
The execs have agreed to not sell any further shares for 180 days, subject to certain exceptions.
The stock has more than doubled since listing in London in October 2024, trading at around 290p as of Friday afternoon.
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Top Director Sells
Applied Nutrition (APN)
Director name: Michael Ryder,Thomas
Amount sold: 4,500,000 @ 275.00p
Value: £12,375,000.00
Applied Nutrition (APN)
Director name: Granite,Steven
Amount sold: 2,500,000 @ 275.00p
Value: £6,875,000.00
Cohort (CHRT)
Director name: Walther,Simon
Amount sold: 39,635 @ 1,161.76p
Value: £460,463.59
Cohort (CHRT)
Director name: Thomis,Andrew Stephen
Amount sold: 23,898 @ 1,161.76p
Value: £277,637.42
Frontier Developments (FDEV)
Director name: Bevis ,Alex
Amount sold: 50,000 @ 515.51p
Value: £257,754.99
Tatton Asset Management (TAM)
Director name: Edwards,Paul
Amount sold: 20,000 @ 665.00p
Value: £133,000.00
Conygar Investment Company (CIC)
Director name: Ware,Robert T E
Amount sold: 258,500 @ 25.40p
Value: £65,659.00
Conygar Investment Company (CIC)
Director name: Ware,Robert T E
Amount sold: 62,000 @ 25.40p
Value: £15,748.00