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.