The chief executive of Parsley Box has topped up his stake in the meal delivery business with the purchase of an additional 100,000 shares.
The move by Kevin Dorren, the company’s biggest shareholder, follows his £1.1 million share purchase earlier this year as part of a fundraising to shore up the firm’s balance sheet. Since joining London's junior AIM market in March 2021, Parsley Box has struggled with supply chain constraints.
Mr Dorren purchased this latest tranche of shares at an average price of 18.09p each for a total outlay of £18,090, taking his direct shareholding to 13.47 per cent. Move Fresh Limited, a company over which Mr Dorren exercises significant control, has a beneficial interest in a further 1.66 million shares representing 2.29% of the issued share capital.
READ MORE: Parsley Box chief prepared for shift from famine to feast
Parsley Box cut its losses in the first five months of this year, but revenue growth remained stalled as order volumes failed to meet management’s expectations. The Edinburgh-based company, which targets consumers aged 65 and older, has lowered its full-year guidance amid the challenging inflationary circumstances facing consumers.
“The current macroeconomic environment is…presenting challenges and therefore we are taking a prudent view for the remainder of the year and we now expect revenue to be in the region of £22.5m,” Parsley Box said in a trading update earlier this month.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here