Pinnacle founder and managing director Ian Macoun and two entities associated with him have sold 3.9 million shares, or 1.73 per cent of its total issued capital, to invest in private credit funds managed by Metrics.
On completion of the transaction, Macoun will still hold 14.3 million shares or a 6.3 per cent stake. He has confirmed that he will not sell further shares for at least three months.
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