IN BRIEF: Hargreaves Services former CEO buys shares to secure loan

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Hargreaves Services PLC - Durham, England-based provider of services for environmental, infrastructure and property sectors - Gordon Banham, who stepped down as chief executive officer at the end of July, buys 490,000 shares via GB Holdings (2021) Ltd at 820.4 pence, worth £4.0 million. Banham's investment vehicle subsequently pledges all 490,000 shares as security against a loan facility with LGT Bank AG. Banham, who was replaced as CEO by Simon Hicks, now holds 3.1 million shares, a 10.1% stake. Non-Executive Director Nicholas Mills sells the same number of shares at 820.0p, also worth £4.0 million. Mills now is interested in 8.0 million Hargreaves Services shares, a 25.9% stake, directly and via Harwood Capital LLP and London-listed funds North Atlantic Smaller Cos Investment Trust PLC and Oryx International Growth Fund Ltd.

Current stock price: 810.52 pence

12-month change: up 7.2%

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