Peter Cowgill nets £21m after selling 10 million JD shares
JD Sports boss Peter Cowgill has sold £21m worth of shares in the shoe seller.
It is the third big sell-off by the executive chairman in a year and a half, with the 68-year-old scooping a total of £53million in the deals. In June 2020 Cowgill sold shares worth £13million and in October that year he sold a £19million stake.
Cowgill, who has been at the helm of the so-called King of Trainers since 2004, yesterday sold another 10m shares, or around half his stake in the business. He said the shares were sold for ‘personal reasons’.
Following the move, Mr Cowgill now has a total interest in 9,714,670 shares, representing 0.19% of the issued share capital of the company.
The announcement sent shares tumbling by 6.5 per cent, or 13.55p, to 197.95p.
The news comes after the retailer revealed that they expect an annual profit of at least £ 875m following the success of Black Friday and the Christmas period.
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