The founder and COO of Manchester-headquartered software coding trainer Northcoders have sold around 40,000 shares in the company after yesterday’s share placing was oversubscibed.
A third substantial shareholder, David Llewellyn, has agreed to sell another 13,333 Existing Ordinary Shares at the Placing Price of 300p, and two further employees have agreed to exercise share options and sell the remaining 50,000 in the exercise which raised around £2.1m.
Pursuant to the Placing, 694,444 new Ordinary Shares have been conditionally placed at the placing price of 300 pence per share. Following the sale, CEO and founder Chris Hill now holds around 19.6 per cent of the shares in company while COO Amul Batra has a stake of 12.4 per cent.
Chair Angela Williams said: “We are extremely pleased to have raised approximately £2.1m via an oversubscribed placing today, the proceeds of which will allow us to further accelerate our growth strategy as Northcoders continues to build and expand.
“Following our successful IPO in July 2021, we have seen significant growth in demand for our technology…
