Such is the commitment of London Capital Group Holdings plc (LON:LCG) CEO Charles-Henri Sabet in ensuring a successful future for the firm since he took the helm that he has personally invested in shares in the company on the open market on several occasions since his initiative began to turn the company’s fortunes around.
Today, in a filing by the London Stock Exchange, it was announced that Mr. Sabet purchased 25,000 ordinary shares of 10p each in the Company at a price of 27.0p per share. Following this purchase, Mr Sabet holds 6,900,000 ordinary shares representing approximately 9.25% of the Company’s total voting rights.
Mr Sabet also holds an indirect interest in 9,000,000 LCG ordinary shares held by GLIO Holdings Limited (“GLIO”). Mr Sabet holds a 21.79 per cent. interest in GLIO through his 100 per cent. interest in ILOG Investments Limited, GLIO’s largest shareholder.
Mr. Sabet’s plans for London Capital Group have begun to take shape, with the introduction of an entirely new management team, most of whom are highly experienced industry professionals with several years experience in senior positions within the industry, and a new direction for the firm which includes an imminent rebanding, and an essential foray into televised media.
An interesting point of note is that stock in London Capital Group traded up a remarkable 8.16% as last week drew to a close, reaching 26.50p, clearly demonstrating investor confidence.
Chart courtesy of Google Finance
For the official filing from the London Stock Exchange, click here.