Dixon share sale send IWG shares down 7%

21st June 2017

Regus founder Mark Dixon has cashed in £94.2m following the sale of 27.3m shares in the FTSE 250 company, now called IWG, sending the firm’s shares down 7%.Just like that. Dixon cashes in on takeover rumours at IWGDixon, who founded the serviced office business almost 30 years ago and remains its chief executive, took advantage of takeover gossip surrounding the firm, selling his shares for 345.1p.The group’s shares continued to fall in early trading this morning and now stand at 330.4p, following Dixon’s sale via his Estorn vehicle after the market closed on Monday evening, when the group’s shares stood at 360.2p.Dixon, who founded IWG as Regus Group in Brussels in 1989, will still indirectly hold 230.86m shares in the company indirectly via Estorn, which represents a stake in the company of 25.2%.Estorn has agreed not to sell any more shares in the company for at least 90 days without getting consent from the group’s broker UBS.