Shoe Zone chairman and chief exec up stakes with £1.3m share swoop

The chief executive and chairman of Leicester-based Shoe Zone have bought a further £1.3m worth of shares in the company.

Anthony Smith, CEO, and Charles Smith, chairman have snapped up another 1,610,876 ordinary shares of 1p each at a price of 80 pence per share.

Sheepy Magna Investments, an investment vehicle in which Charles Smith has a 50% interest has acquired 720,156 ordinary ahares, and Slawston Investments, an investment vehicle in which Anthony Smith has a 50% interest has acquired 900,720 ordinary Shares.

The deals take Charles Smith’s interest in Shoe Zone to a 23.87% stakeholding, while Anthony Smith now owns 29.85%.

Earlier this week, Shoe Zone revealed that revenue slumped by over a third during the six months to April 3 as the company continued to struggle with the effects of the pandemic.

Turnover came in at £40.4m over the period, down from £68.9m last year. Losses were flat at £2.6m, compared to £2.5m last year.