Fever-Tree (FEVR) co-founder and former executive chairman Charles Rolls is seeking to sell 2.5 million shares to institutional investors.
The share sale, which represents around 2.2% of the company’s outstanding shares, will net Rolls around £43.5m at current market value of 1,741.5p per share.
Fever-Tree now has a market cap of over £2bn, having floated in November 2014 at just 170p per share.
The sale will leave Rolls, who stepped down as executive chairman after its annual general meeting on 15 May 2017, just under 15 million shares, representing approximately 13% of the company’s issued share capital
Investec will handle the sale. Rolls, who remains a non-exec director, will not sell any more shares for six months without Investec’s prior written consent.
Co-founders Rolls and CEO Tim Warrillow sold off a further portion of their shares in March 2016.
Rolls sold 1.9 million of his shares at 635p each for a total value of £12.3m and Warrillow scored a £5.4m payday after releasing almost 854,000 shares at the same price.
Fever-Tree’s share price is currently up 145% year-on-year and rose another 11% over the past month after yet again upgrading sales forecasts.