International Workplace Group PLC - Zug, Switzerland-based flexible office provider formerly known as IWG and Regus - Chief Executive Officer Mark Dixon sells 35.0 million shares via Estorn Ltd at GBP1.96 each, worth GBP68.5 million, on Tuesday. The sale proceeds will be to used unwind pledge and lending arrangements between Estorn and the Luxembourg arm of Deutsche Bank AG, IWG explains. Dixon retains 254.8 million shares, a 25% stake.

On Friday last week, IWG shareholders approved the change of the company's name to International Workplace Group PLC from IWG PLC.

Current stock price: 191.30 pence, down 7.6% in London on Wednesday

12-month change: up 32%

By Tom Waite, Alliance News editor

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