// Deliveroo’s founder Will Shu has had to sell £47 million of shares in order to pay a tax liability bill, prompting the company’s share price to fall 4.8 per cent.

// Both Shu and Deliveroo’s chief financial officer Adam Miller have sold stock to settle the bill, arising from vested shares. with Miller selling close to £2 million in Class A stock.

Deliveroo explained that “if the Proposed Transaction completes, neither Will Shu nor Adam Miller will retain any net proceeds as a result of the Proposed Transaction,” in a statement.

Read the full story here

Click here to sign up to Retail Gazette’s free daily email newsletter