IN BRIEF: Former LXi owners sell PS47 million in LondonMetric shares

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LondonMetric Property PLC - London-based real estate investment trust - Non-executive directors Nick Leslau and Sandy Gumm sell 26.4 million shares via Prestbury Management Holdings Ltd at 178.72 pence per share, worth £47.1 million, on Thursday. Prestbury was a large shareholder in LXi REIT PLC, with which LondonMetric completed an all-share merger in March last year. The sale of LondonMetric shares follows the expiry of the lock-up period following the acquisition. Laslau retains 26.4 million shares, a 1.3% stake, while Gumm still has 351,640. ‘As non-executive directors, both Mr Leslau and Ms Gumm are fully supportive of the company and remain committed long-term shareholders,’ LondonMetric says.

Current stock price: 176.50p, down 0.5% in London on Friday

12-month change: down 7.9%

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