Nixon nets £56m from Moneysupermarket stake
THE co-founder of price comparison website Moneysupermarket.com has cut his stake in the business, netting him £56m.
Simon Nixon, who built up and floated the Deeside-based business, has already made more than £400m.
The 20 million shares placed by Credit Suisse Securities represent 3.7% of the issued share capital of the company. The placing was priced at 280p per ordinary share.
Following completition of the placing, Nixon will be subject to a lock-up of 180 days in respect of his remaining 12.8% stake in the company.
In a short statement the company said: “As a result of Simon Nixon’s stake falling below 15%, the relationship agreement between Simon and Moneysupermarket.com, that has been in place since 2007, has now ended.
“This allowed Simon Nixon to nominate for appointment a non-executive director to the board. While he has never taken up this right, the right will now fall away. Simon Nixon remains on the board as a non-executive director.”
In March the entrepreneur shelved plans to sell a 6.4% stake through another City broker, in that instance Citigroup.
