Kenneth Alexander, Group Chief Executive of FTSE gambling group GVC Holdings, has underlined his long-term commitment to the company by purchasing £5 million worth of shares.
GVC’s leader confirmed that he had acquired 833,000 shares at a purchase price of 588.17p – the transaction sees Alexander increase his total shareholding in the firm to approximately 2.5 million shares.
Issuing a short statement, Alexander commented: “The purchase of £5m worth of shares demonstrates my conviction that GVC’s strategy and long-term outlook will provide shareholders with strong returns, as supported by the continued positive momentum in the results we announced last week.
“I am confident in the regulatory outlook in Germany and the UK, and in the group’s opportunity to take a leading position in the US market. I remain totally committed to GVC for the long-term.”
Alexander had come under investor criticism during Q1 2019 trading for offloading a combined 3 million of shares at a presumed discounted price of 666p, a transaction undertaken alongside former company chairman Lee Feldman.
A number of GVC Investors criticised Alexander and Feldman’s actions, stating that the executives had displayed a lack of confidence selling their GVC shares at a discounted price.
At present, GVC is searching for the company’s next Chairman, afterFeldman confirmed last March that he would end his tenure with the FTSE gambling group.