Steppe Cement Ltd said chief executive, and two significant shareholders have reduced their combined stake in the company to about 33 per cent by selling their shares.

The company said chief executive Javier del Ser Perez has cut his stake to 6.2 per cen, after selling 3.9m shares at UK£3.35 each and now holds 7.11m shares in the company.

It said former chairman Azmi Wan Hamzah and shareholder David Crichton-Watt also reduced their stakes to 13.4 per cent and 13.3 per cent respectively by selling their shares at various prices.

Following the sale, Crichton-Watt holds 15.2m shares and entities controlled by Hamzah hold 15.3m shares in the company.
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