UPDATE: Goodwin family has 54% stake after PS23 million share sale
Goodwin PLC - Stoke-on-Trent, Staffordshire-based mechanical and refractory engineering - Goodwin confirms that Goodwin family members involved in the business now own 53.0% of the company, following their sale of 99,458 shares at 190 per share, worth £18.9 million, reducing their combined stake to 4.0 million shares. The Goodwin concert party, including Goodwin family members not involved in the business, has a 53.7% stake.
Late last week, the wider Goodwin family sold 122,368 shares, a 1.6% stake. The placing with institutional investors was conducted by Rothschild & Co Redburn, which didn’t at the time provide the sale price. The wider sale was worth £23.3 million at the £190 price provided on Tuesday. The Goodwin family have agreed to not sell more shares for another half year. Timothy Goodwin is executive chair of Goodwin, and Simon, Matthew and Bernard Goodwin are executive directors.
Goodwin shares jumped last month after it announced a doubling in annual profit and a 532p per share special dividend. It also said it has ‘enhanced visibility’ on defence and nuclear work that is not yet reflected in its £365 million order book.
Current stock price: 20,300.00 pence, down 1.0% in London on Tuesday
12-month change: up from 6,580.00p
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