JD Wetherspoon chairman Tim Martin has sold £1.5m worth of shares to repay a bank loan following a positively-received trading update.
Martin sold 500,000 shares at 309.5p each and will use the collateral to pay off a loan from RBS.
RBS will return 3.6 million of Martin’s shares that it was holding as a security for the loan.
Wetherspoon’s shares closed down 8.25p to 306.75p.
More company directors have been revealed to be using shares as collateral in the wake of a pending FSA deadline to make such announcements.
Domino’s Pizza yesterday announced that its executive chairman Stephen Hemsley has pledged 3.59 million shares against a personal loan.
