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Ted Baker founder to sell 200,000 share options

Ted Baker founder and chief executive Ray Kelvin is exercising some of his stock options and selling the shares to outside investors.

Kelvin will keep 15.5m shares in the company, equal to 35.38% of ordinary stock, and Liberium Capital will now place 202,382 shares that will fall to the founder due to the exercise of nil-cost options awarded as part of a bonus plan, reported The Financial Times.

Ted Baker reported that like-for-like sales increased by 22.8% for the eight weeks to January 3, last Thursday.

Gross margins were in line with expectations and, as in previous years, there was no significant promotional activity before Christmas.

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