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Learning Technologies trio trim holdings in e-learning group

Shares in the group have more than doubled over the past year

Three directors in Learning Technologies Group plc (LON:LTG) have trimmed their holdings in the e-learning group in a secondary placing at 130p.

Jonathan Satchell, chief executive, Annabel Carol Lea who is associated with Piers Lea the company’s chief strategy officer, and Tim Martin sold 31.3mln shares in total.

Satchell’s stake is now approximately 11.3%. Piers Lea holds 1.3% and Tim Martin 0.6%.

Shares in the group have more than doubled over the past year and last month the group forecast full-year profit will be significantly ahead of its previous expectations.

The first half of 2018 saw revenue rise 60% to £33.8mln from £21.1mln the year before, with the proportion of recurring revenue rising to 51% from 37%.

Satchell and Lea have agreed not to sell any more shares for a year, while Martin has agreed to a three-month lock-up.

 

 

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