Former chairman sells 24.5 million shares in three transactions.
Former Minds + Machines chairman Fred Krueger has sold about a fifth of his stake in the new top level domain name company since leaving at the end of last month.
Krueger has sold 24.5 million shares in three transactions, netting him close to £2 million, assuming he sold for just over 8 pence per share. [Update: Minds + Machines announced on 6/10 that Krueger sold another 4 million shares, on 6/11 that he sold 10,750,000 shares and on 6/12 that he sold another 16,500,000 shares.].
When he left the company, Krueger said his goal was to keep the “vast majority” of his shares. Depending on your definition of vast, I’d say he plans/planned to keep at least 60% of his shares. He still has approximately 104 million shares.
Krueger’s share of outstanding shares is fairly nominal. He retains 12.4%8.7% of outstanding shares after the recent disposals.
Robbie says
What is their business losing contentions, and salaries eat up the rest, no real basis on their extensions, money will dry out, investors lose, why not sell now, smart
Jim says
Losing contentions??
Law? Vip? Wedding? London? Fashion? Beer? and the rest…..
Jordan says
I think he is smart to sell and to get as far away from any company that is in any way affiliated with gtlds. That tugboat is going down faster than the RMS Titanic in the North Atlantic Ocean.
Snoopy says
Think he is making the right move, a company going nowhere.