A businessman and philanthropist who was knighted in 2016 has lowered his stake in online electricals retailer AO.
Sir Norman Stoller now has a holding of 2.83% in the Bolton-headquartered group, down from 3.43%, according to documents filed with the London Stock Exchange.
Sir Norman is known in Oldham for his involvement with Seton Healthcare, now SSL International, which was founded by his father Ivor in 1952 and invented the tubular bandage.
READ MORE: Share price hit as AO warns of revenue cut amid cost of living crisis
In the 1980s, he created the Stoller Charitable Trust, which has donated millions to good causes.
Sir Norman served in the RAF before joining Seton Products Ltd for £5 a week, plus commission.
He became managing director in 1962 and helped build the firm into a global brand and huge local employer.
The knighthood in 2016 added to his MBE, OBE and CBE for his business and charitable successes.
The move comes after AO warned its future revenues are going to be cut further because of "volatile market conditions", inflation, supply chain challenges and the cost of living crisis.
