Gateley directors and employees cash in

Legal and professional services provider Gateley (GTLY) has announced that certain directors and employees have sold 5.5m shares worth £11m via a placing. While only 4.75m shares were originally set to be placed at 200p each via an accelerated bookbuild, more shares were divested in response to “excess demand”. The group said the placing was to “satisfy market demand and broaden the institutional investor base of the company”. The names of the directors involved and their resulting holdings have not yet been disclosed, and are not included in our table.