Broker Peel Hunt said on Tuesday that Charles Wigoder, the non-executive chairman of Telecom Plus, the Wigoder Family Foundation and a number of other smaller shareholders have sold 3.5m shares in the company in a placing.
The shares, which represent a stake of around 4.4%, were placed at 2,400p each. This compares to a closing share price of 2,435p on Monday.
The placing was conducted through an accelerated bookbuild, with Peel Hunt and Numis acting as joint bookrunners.
The company, which trades as Utility Warehouse, is not a party to the placing and will not receive any of the proceeds.
