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07 Aug 2018 | 13:20

Fever-Tree founders collect £103.5m after reducing their stakes

Fizzy drinks maker Fever-Tree said its founders had sold a higher-than-expected number of shares in the company following high demand from buyers.

Charles Rolls and Tim Warrillow, also Fever-Tree's deputy chairman and chief executive, sold 3m shares in the company, representing 2.6% of its shares on issue.

They had originally intended to sell 2m shares to institutional investors.

The shares were placed at £34.50 each, netting the two men a combined £103.5m.

Following the placing, Rolls still held a 7.1% stake in Fever-Tree, while Warrillow held a 4.7% stake. At 1:20pm: (LON:FEVR) Fevertree Drinks Plc share price was -78.5p at 3601.5p

Story provided by StockMarketWire.com
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