B&M European Value Retail SA - Luxembourg-headquartered variety goods retailer - SSA Investments Sarl, a Luxembourg-registered vehicle of Chief Executive Officer Simon Arora and Trading Director Bobby Arora, buys £30.9 million worth of B&M’s sterling senior secured 4.0% notes due November 2028. The purchases of 34.2 million notes at £0.8909 to £0.9050 take place outside a trading venue between Tuesday last week and Tuesday this week.

Simon Arora is set to step down as CEO, replaced by B&M’s current chief financial officer, Alex Russo. The change will take place once a new CFO is found. Bobby Arora will remain in place. The Aroras bought B&M in 2004 and expanded it from a regional UK chain of 21 stores to a FTSE 100 constituent with 1,100 stores across the UK and France.

Current stock price: 374.10 pence, down 1.1% on Wednesday

12-month change: down 30%

Copyright 2022 Alliance News Limited. All Rights Reserved.