£170m windfall for website co-founder
City Index June 5, 2013 10:15 PM
<p>Simon Nixon has made around £170 million from selling a stake in Moneysupermarket.com and will hold on to his place on the board.</p>
The co-founder of a price comparison website has cashed in a 15 per cent stake in the company to receive a windfall of £170 million.
Simon Nixon set up Moneysupermarket.com with Duncan Cameron in 1999 and is going to retain a seat on the firm's board.
He is selling 80 million shares in what will be the first major disposal of his stock since the website floated six years ago. Mr Nixon was also able to bank £103 million when the business went public.
Chairman Gerald Corbett said: "Simon remains a major shareholder and will continue to play a key role on the board."
Mr Nixon left his chief executive position in 2008 and in April moved from executive deputy chairman to a non-executive role.
The share price of the company is down today (June 5th) on the back of the news Mr Nixon has cashed in a 15 per cent stake in the website.
Its stocks were trading for 199.50, almost four per cent down on the start of the day.
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