News Burst: Investors may exit Lastminute.com early

A sharp fall in share price suggests an early exit for Lastminute.com investors

Online booking agent Lastminute.com faces the possibility of its early investors selling out of the company this week, when the lock-up extensions they agreed in September expire.

Venture capitalist firms such as Arts Alliance and Global Retail Partners have been locked into their investments for 180 days after Lastminute's flotation in March. Most of the early investors agreed to hold on to 90 percent of their holdings in September for a further three months in order to avoid uncontrolled selling.

Lastminute.com share prices have more than halved to 81.5p since the lock-up extensions were agreed.

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