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Earlier today it was rumoured to be him was it not? KJ even suggested something along those lines

 

It may well still be the case but I doubt it!

 

When Richard Hughes sold up (iirc the last trade in the region of that size) it was at a fair discount to the market, given the mid market price attributed to today's "deal" I'm inclined to lean towards the institutional transfer as the most likely explanation given what little is actually known.

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That makes sense because they are not showing as a BUY or SELL.

 

The most likely candidates would be Artemis or River & Mercantile.

 

For a stock that has lost so much value since it was first offered, and with the company having so much trouble raising capital, why would any fund manager want to add it to a portfolio?

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For a stock that has lost so much value since it was first offered, and with the company having so much trouble raising capital, why would any fund manager want to add it to a portfolio?

 

I think you've misunderstood what is being suggested.

 

R&M for example have the holding split between two funds: UK High Alpha and UK Equity Long Term Recovery. Both Funds are managed by the same person - Hugh Sargeant. It may simply be the case that he has moved part of the holding from one fund to another. I doubt he would be a seller at this price since he paid 70p for some of the shares.

 

Artemis have 4,000,000 out of their 5,479,000 shares in their Strategic Assets Fund and may have decided to diversify to spread the risk into some of their other funds.

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