Top men sell shares in holiday firm for £10.8m

Four top executives at Greater Manchester holiday company On The Beach have pocketed a total of £10.8m from the sale of shares.

Chief technical officer Jonathan Smith and chief marketing officer have each sold a million shares at 439p to receive £4.39m each. With their remaining shares they own a 1.65% stake in the Cheadle company.

Chief supply officer Bill Allen has bagged £1.0975m and now has a 0.23% holding in the firm, while chief international officer Oliver has banked £878,000 and maintains a 0.13% piece of OTB.

The information is required to be disclosed by the company in accordance with Article 19 of the Market Abuse Regulation.

On the Beach is one of the UK’s largest online retailers of beach holidays with a 20% share of the online short haul beach holiday market.