Apr 26, 2019

Asos non-exec sells down

Asos lost its status as junior market royalty last year after losing more than half of its market value on news of weaker first-quarter sales. Mr Robertson founded Asos in 2001, during which time the value of his holding has risen to more than £182m. He has been periodically selling down his holding in recent years, though he retains a stake worth 5.53 per cent of the group's issued share capital. In late January, Itai Frieberger stepped down as chief executive of 888 Holdings after more than 14 years at the company, and was replaced by then chief operating officer Itai Pazner. Mr Frieberger's sale of 2m shares at 152p each, equating to a cash-out of more than £3m, reflects that transition. He still owns more than 3.5m shares or nearly 1 per cent of those in issue, and has committed not to sell any more for at least 60 days.

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