- Dunkerton increases Superdry stake
- N Brown largest shareholder ups stake
- Bango director sells shares to meet divorce settlement
While squashing market rumours of plans to take embattled clothing and footwear retailer Superdry (SDRY) private, founder and chief executive Julian Dunkerton was busily topping up his shareholding.
Between 31 January and 3 February, Dunkerton purchased 353,756 shares at an average price of 1.21, splashing out £426,535 in the process and taking his shareholding to just over 25% of the company.
At the end of January, Superdry told investors it had lurched into a first half loss and cut its profit guidance for the year to 30 April 2023 amid an underperforming wholesale business and ‘increasing uncertainty’ over the fourth quarter outlook.
Superdry now expects a ‘broadly breakeven’ result for the year, having previously guided to adjusted pre-tax profits in the £10 million to £20 million range, with management warning of the potential for ‘a soft Spring’.
FOLLOW THE MONEY
David Alliance, non-executive director and largest shareholder of online clothing and footwear company N Brown (BWNG), topped-up his shareholding after purchasing 640,000 shares on 7 February at a price of 41p for an outlay of £262,400.
Son Joshua Alliance, also a non-executive director, purchased 355,000 shares on the same day at a price of 42p for a consideration of £149,100. Following the transactions, the pair hold 43.6% and 6.5% respectively and 50.1% in total of the firm’s issued share capital.
At the end of January 2023, Mike Ashley’s Frasers Group (FRAS) upped its stake to 17.88% to become the company’s second largest owner after David Alliance.
The Frasers empire also spans retailers and brands including Game Digital, Sofa.com, Evans Cycles and Jack Wills. It has also built-up strategic stakes in high-end handbags group Mulberry (MUL:AIM), German fashion brand Hugo Boss (BOSS:ETR) and ASOS (ASC).
Since the middle of October, N Brown shares have almost doubled to 40p.
BANGO DIVORCE SETTLEMENT SALE
Anil Malhotra, chief marketing officer at data-driven global platform provider Bango (BGO:AIM), sold a combined 1.35 million shares in the company, raising just over £3 million, to meet a personal financial commitment relating to a divorce settlement.
Following the sale, Malhotra owns 2.6 million shares in Bango representing 3.43% of the total issued share capital.
Non-executive director Frank Bury, and certain people closely associated with him, bought 100,000 shares in aggregate at a price of 225p for a consideration of £225,000.
Following the purchase, Bury has a direct and indirect interest in 483,500 shares representing 0.63% of the total issued share capital.
Last year was transformational for Bango after it purchased a ‘significant’ competitor with a high-quality customer base, doubling the size of the business.
The shares have gained 17% over the last year.
