The founder of online electricals giant AO has lowered his stake in the company.
John Roberts, who serves as the Bolton-headquartered group's chief executive, now holds 18.57% of the shares in the listed business, down from 22.76%.
The move comes after Mr Roberts decreased his holding by 0.3% in April by donating over 1.47 million shares to good causes.
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AO recently hit the headlines after it called on investors to help it raise an extra £40m after its share price fell over fears of its financial strength.
The move came after two days of steep share declines after it emerged that credit insurer Atradius had cut cover for the firm's suppliers.
Credit insurance protects suppliers against the risk of retailers collapsing before payment for goods is made, and, without this cover in place, suppliers often demand upfront payments, increasing cash flow woes.
At the time, Mr Roberts said: ""In addition to being a sensible piece of financial housekeeping given the short-term macroeconomic uncertainty, this capital raise will give us the necessary foundation from which to go after the significant long-term growth opportunities that we see for AO in the UK."
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