After the stock market interpreted the news about the substantial half-year loss of LCG Capital (LON:LCG) as negative, and shares of the company have been sold at new all-time lows, the CEO of the brokerage, Charles-Henri Sabet, has decided to step in and purchase another 800,000 shares.
Following this move, the stake of the Chief Executive Officer of LCG Capital (LON:LCG) has been bumped up to 21.79 per cent. The purchase was executed on the 24th of September, as Mr. Sabet purchased the ordinary shares of 10 pence each at a price of 15 pence per share.
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The total interest of LCG Capital’s (LON:LCG) CEO is now 7,800,000 ordinary shares, including 5,000,000 JSOP Shares awarded to him on the 23rd January, 2015, representing approximately 10.39% of the Company’s total voting rights.
Charles-Henri Sabet also holds an indirect interest in 9,000,000 LCG Capital’s (LON:LCG) ordinary shares through his interest in GLIO Holdings, where he owns 100 percent as the largest shareholder in the company, ILOG Investments Limited.
The new investment by the company’s CEO aims to reassure shareholders of the intentions of the firm’s management to turn the business of LCG Capital (LON:LCG) quickly into a profitable one. The company is expected to unveil a new product in the coming weeks which could play a decisive role in the broker’s marketing efforts which are to be launched in October.