The 10.2 million shares are worth more than $1 billion based on Friday’s share price.
Embattled WiseTech founder Richard White will own even more of the company after agreeing to buy 10.2 million shares in the business from the group’s co-founder, Maree Isaacs, as the tech firm deals with the aftermath of White’s resignation following allegations of inappropriate behaviour.
The 10.2 million shares being sold to White are worth more than $1 billion based on Friday’s share price.Isaacs indicated the deal allowed her to access the wealth she had built up since co-founding the company 30 years ago. She said she remained committed to the company. In the transaction, Isaacs will sell her 8 per cent interest in RealWise, which controls the original shares owned by both the co-founders, to White, giving him full control of the 38 per cent WiseTech stake that RealWise controls.
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