Housebuilder鈥檚 founder and chair sells chunk of shareholding leaving him with less than 5% interest in company
Tony Pidgley, founder and chairman of Berkeley Group, has amassed 拢18.7m from the sale of 750,000 shares.
The shares were sold for 拢25 each, leaving him with a 4.4% interest in the company.
Rob Perrins, Berkeley鈥檚 managing director, also sold 250,000 shares, netting him 拢6.25m, but leaving him with less than a 1% stake in the company.
According to Tony Williams analyst at 黑洞社区 Value, the sector has seen record highs so far this year but, in terms of share price performance, Berkeley鈥檚 has been 鈥渟lightly disappointing鈥� compared to other firms.
Williams said Pidgley鈥檚 decision to shed some of his shares is unlikely to worry the other shareholders as they have done 鈥渋ncredibly well鈥� from dividends over the last year or so.
Housebuilder shares on the London Stock Exchange soared over the last parliament with Berkeley Group鈥檚 share price up over 200% over the five year period.
This, according to analysts, is partly a reflection of the government鈥檚 policies over the period to boost the housing sector, including the help to buy scheme.
Berkeley Group won 黑洞社区鈥檚 2015 housebuilder of the year award last week.
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