Former chief executive sold shares in January

Arron Banks

Former Brightside chief executive Arron Banks’s direct shareholding in his old firm has dropped to 7.43% following a number of transactions.

On 14 July 2011, Banks announced he owned 69.5 million shares – 15.2% of the total. Following this announcement he transferred some of his holding to Mrs E Banks.

Banks informed Brightside today that he no longer controls or has any interest in the shares held by Mrs E Banks.

In addition, he also sold 3.1 million shares on January 24, 25 and 29 this year.

As a result, Banks now directly owns 33.9 million shares, representing 7.43% of the total. In addition, he has an interest in 3.8 million shares (0.83%) owned by insurer Southern Rock, of which he is a director.

Mrs E Banks owns 16.6 million shares in Brightside, or 3.63%, after selling 1.5 million shares on 24 January this year.