Gissing, who announced on Tuesday that he would be leaving the company, sold just over three million shares on the same day at 498.75p each, reducing his stake by 0.52 per cent to 2.56 per cent.
The news came as the company reported the £12.5m pre-tax loss for the year to 1 December, larger than the £600,000 loss the previous year, despite striking its £216m deal with
The group said it expects to make a profit next year and attributed the loss to adding more capacity and opening its second distribution centre in Dordon.
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