Mattioli Woods founder may transfer half of stake after divorce settlement

Bob Woods, executive chairman of advice firm Mattioli Woods, is to pay out half the value of his 15.1% stake in the firm to his ex-wife under the terms of their divorce settlement.

Woods, who owns 3.1 million shares in the company, agreed a consent order with his ex-wife which could see him sell half of his stake in the firm - albeit not until 2019. The order is subject to approval by the Family Court. If approved, Woods will be asked to settle with his former wife on 20 July 2019, the firm said in an update to the stock exchange. Mattioli Woods said: "If the consent order is approved by the court, while the shareholding will remain under the full control of Mr Woods, it will become subject to an equitable charge in favour of Mrs Woods. "The charge provides...