Source - SMW Group chairman Sir Peter Wood has reduced his stake from 30.7% to just over 25% through the sale of 21.3 million ordinary shares at 100p apiece.

He  will remain as chairman of the company and has informed the company that he intended to seek re-election at the 2018 annual general meeting.

He said: 'I am extremely pleased with the performance of GoCompare since the demerger in November 2016.  

'The new management team is performing exceptionally well and delivering against expectations.  

'I am also excited about the investments that we have made into MortgageGym and and the potential for further investments continuing to grow.

'GoCompare has an extremely bright future and I very much look forward to continuing as chairman and major shareholder.'

GoCompare's board  reaffirmed that the company continued to trade in line with its prior expectations for full year 2017.

At 8:08am: (LON:GOCO) Group Plc share price was -2.25p at 102.25p