Wednesday, January 19, 2022

JD Sports fell 6.5 percent after boss Peter Cougil sold shares worth £ 21 million.

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JD Sports owner Peter Cougil fell 6.5 percent after selling another £ 21 million worth of shares.


JD Sports Chief Peter Cougil

JD Sports head coach Peter Cougill has sold a £ 21 million stake in the shoe retailer.

This is the executive chairman’s third major sale in the last year and a half, with the 68-year-old specialist earning a total of £ 53m on deals. In June 2020, Cowgill sold shares worth £ 13 million, and in October of that year, he sold £ 19 million.

Cougill, who has run the organization called King of Coaches since 2004, sold another 10 million shares yesterday, or half of his stake in the business. He said the shares were sold “for personal reasons.”

The stock fell 6.5 percent, or 13.55 p, to 197.95 p.

Berenberg analysts say Kougill will remain “completely loyal” to JD if he still has a £ 20 million stake in the business.

And the investment bank said the concerns about the sale were “over-fulfilled” and that Kougill’s future salary would include benefits provided in the shares.

Although the company received £ 100m in aid from the government during the pandemic last year, Cowgill has been criticized for its £ 4.3m salary package.

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