Arrow Global execs sell £10m of shares

FOUR top executives at Manchester company Arrow Global have sold more than £10m worth of shares in the business.

Chief executive Tom Drury amd his wife Jane made nearly £2.4m each as they sold more than 956,000 shares each at £2.50 per shares as part of a shares placing by the listed Booth Street-based company.~

Zach Lewy, the American founder and chief investment officer at the data-led debt recovery firm, made £3.9m as he sold 1.582 million shares at the same price.

Chief financial officer Rob Memmott and his wife Heather netted £1.6m as they also sold some of their shareholding, while general counsel and company secretary  Stewart Hamilton and his wife Leah made just over £212,000.

The company said other employees, former employees and their families have jointly sold 3.17 million shares worth £7.9m shares, while an un-named institutional investor had sold 3.6 milllion shares at the placing price.

It added: “In the light of the placing, Tom Drury, Robert Memmott and Zachary Lewy have agreed with the company that, following completion of the placing, they and their connected persons and affiliates will not dispose of further shares in the company for a period of at least 180 days.”