Director/PDMR Shareholding

RNS Number : 3128C

Fairpoint Group PLC

15 April 2013

 



15 April 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") has sold its remaining 4,983,578 ordinary shares in the Company at a price of 105 pence on 12 April 2013.  Hanover accordingly no longer has a notifiable interest in Fairpoint. Two directors of Fairpoint, Matthew Peacock and Thomas Russell, have an interest in Hanover investors and as a result no longer have an indirect interest in Fairpoint shares; nor do they retain any direct interest in Fairpoint shares.

Matthew Peacock, Chairman of Fairpoint and founding partner of Hanover Investors said:

"Against a backdrop of considerable demand for the shares of Fairpoint, and a rising price, we have had the opportunity to sell our stake as a turnaround investor, declare the turnaround of Fairpoint over and recognise the transition to a growth agenda. We are pleased with the diversification of revenues Fairpoint has achieved and the growth opportunity this affords.

"I will continue to serve the Board as we look for a successor to lead the board in Fairpoint's next phase of development and thank the shareholders for their support over the last few years."

Enquiries

Fairpoint Group plc                                                                                                                             www.fairpoint.co.uk    

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                                                                                         

 

END

 

 

RDSKZLFFXZFLBBK