Ex-RSM Tenon chairman’s shareholding rises to 6%

RSM TENON’S former chairman Bob Morton has spent more than a quarter of a million pounds on the firm’s shares.

Morton (pictured), who stepped down earlier this year along with CEO Andy Raynor, has picked up another five million shares in the firm, at 5.41p a share.

He previously owned 15,373,456 shares. His new shareholding is equivalent to 6.31% of the listed firm.

A spokeswoman for RSM Tenon confirmed that the former chairman had acquired shares in the company.

RSM Tenon uncovered accounting errors in January and then restated its accounts later this year. In February, the firm reported a loss on continuing operations of £71m, a reported drop in revenue of 9% and a reduction in pre-tax profit of £12.1m.

Its shares were trading at 5.01p this morning.

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