Google President will sell $ 2.5 billion worth of shares

Google President will sell $ 2.5 billion worth of shares

Washington : DC : USA | Feb 08, 2013 at 11:57 PM PST
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Google Chairman and CEO Eric Schmidt

The chairman of Google Eric Schmidt will sell for about $ 2.5 billion share of the group within a year, according to a statement from the group available on the market authorities (SEC).

Mr. Schmidt, who had at December 31, 2012 a share capital of 2.3% and 8.2% of Google voting rights, intends to market 3.2 million shares in Google coming year, the paper says stock.

In the title Friday at closing (785.37 U.S. dollars), it could take more than $ 2.5 billion of these actions will be placed on the market gradually, so as not to disrupt the class.

Each sale will be announced publicly, said the document.

He actually sells all titles planned, the Chairman of the Board of Directors of Google, which sold last year as Director General co-founder Larry Page Group, will hold more than 4.4 million shares, representing 1.3% of the capital and 5% of the voting rights.

It will thus be reduced by 42% its stake in the group.

In January 2010, the two co-founders, Larry Page and Sergey Brin, had announced to them that they planned to sell over five years a total of five million shares each.

At the time, they had between them 57.7 million shares, or 18% of capital and 59% of the voting rights. At the end of planned disposals, it should remain their 47.7 million shares, or 15% of capital and 48% of the voting rights.

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Google Chairman and CEO Eric Schmidt
Google Chairman and CEO Eric Schmidt
rsa76 is based in Karāchi, Sind, Pakistan, and is a Reporter on Allvoices.
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