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Three Lindsell Train shares change hands for £293k in rare sale

Three Lindsell Train shares change hands for £293k in rare sale

Three shares in Lindsell Train Limited (LTL) have changed hands in an extremely rare sale of the stock, raising £293,000.

Co-founders Nick Train (pictured) and Mike Lindsell both sold a single share to portfolio manager James Bullock with the board selling the third share. All were valued at £97,602.27.

‘These transactions are part of a strategy of incentivising the executives of LTL to help the future success of the business,’ the company told the stock market in an announcement.

Bullock joined LTL in 2010 and a portfolio manager working across global equity accounts. He has a master's degree in physics from the University of Oxford and a doctorate in biomechanics from the University of Cambridge.

A large portion of LTL is held by the group’s flagship Lindsell Train Investment Trust, which owns a 24.31% stake in the unlisted company. This exposure is a key reason why the trust so frequently trades at a significant premium to its net asset value.

It is currently trading on a premium of 27.4%, down from a record high of 75.9% in September 2016.

 

 

 

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