Founder of Amstrad Plc Alan Sugar has placed 42.75m shares through a James Capel placing with institutions at 80 pence a share. The company’s shares finished up 8 at 88.5 pence at the end of the day’s trading. Sugar will retain his 36% stake in the company and says that the placing in no way diminishes his commitment to the company – its simply that his personal wealth is tied up in Amstrad’s equity and he wants to take advantage of of certain opportunities that exist in the currently depressed commercial property market. He has undertaken not to dispose of any more shares for two years except through transfers to his charitable foundation.
