Director/PDMR Shareholding

RNS Number : 3982A

Fairpoint Group PLC

20 March 2013

 



20 March 2013

Fairpoint Group plc

Director/PDMR shareholding

Fairpoint Group plc ("Fairpoint or the "Company"), the leading provider of advice and solutions to financially stressed consumers, announces that it has been informed that Hanover Investors Management LLP ("Hanover Investors") sold 5,000,000 ordinary shares at a price of 103 pence on 19 March 2013. Following this sale, Hanover Investors has an interest in 4,983,578 ordinary shares representing approximately 11.9% of the Company's issued share capital (excluding the 1,666,667 Ordinary Shares held as treasury shares). Two directors of Fairpoint (Matthew Peacock and Thomas Russell) have an indirect interest in Hanover Investors' remaining holding of 4,983,578 ordinary shares through funds advised by Hanover Investors.

Matthew Peacock said: "As a turnaround investor, I am pleased to be in a position to rebalance Hanover Investors' portfolio and improve the free float in Fairpoint at a time of robust and improving performance at Fairpoint. The ongoing exposure to Fairpoint's growth potential and yield remains attractive to us. As Chairman of Fairpoint I remain committed to leading the Board and progressing the strategic agenda of the business."

Enquiries

Fairpoint Group plc

Chris Moat, Chief Executive Officer                                        0845 296 0100

John Gittins, Group Finance Director

Shore Capital (Nomad and Broker)

Pascal Keane                                                                                     020 7408 4090

Edward Mansfield                                                                          

MHP

Reg Hoare                                                                                             020 3128 8100

Katie Hunt                                                                                         

 

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