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Lindsell Train IT agrees to sell stake in LTL

31 March 2016 11:36

Lindsell Train Investment Trust has announced that it has agreed to sell 3 of its shares in Lindsell Train Limited (LTL) for cash to Mr James Bullock, an executive employee of LTL.

The shares will sold at LTL's prevailing price, last calculated at 29th February 2016, of GBP43,151.40 each. An option to buy a further 1 share is also being granted to Mr Bullock, with an exercise price also at GBP43,151.40. This option will be exercisable between three and ten years after its issue.

Following the sale and the granting of the option, the Company's holding, if the option is exercised, will fall from 24.42% of LTL to 24.27%.

Michael Lindsell and Nick Train are also each offering Mr Bullock options on 2 shares with the same terms.

The Company said these transactions are part of a strategy of incentivising the executives of LTL to help the future success of the business.

At 11:35am: (LON:LTI) Lindsell Train Investment Trust Plc the share price was +2.5p at 570p

Story provided by StockMarketWire.com

Related Company: LTI

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