Dunelm shares lower after Deputy Chairman lowers stake By Investing.com

By Samuel Indyk

Investing.com – Dunelm shares trade lower on Tuesday morning after the company announced Deputy Chairman Will Adderley had sold 15mln shares, representing a stake of circa 7.4%. The shares were placed at a price of 1,280p per share.

Adderley, who is the son of Dunelm Group PLC (LON:DNLM) founders Bill and Jean Adderley, is set to rake in £192mln from the stake sale. Nevertheless, the Adderley family still retains a stake of 43.2% in the furniture and furnishings retailer with Will Adderley keeping a 17.8% stake.

In a statement to the exchange, Dunelm said Will Adderley remains fully committed to Dunelm in his role as Deputy Chairman as well as remaining a very substantial shareholder in the company. Adderley confirmed that he will not dispose of further shares in the company for a period of at least 90 days, subject to customary exceptions.