30th Dec 2015 10:01
LONDON (Alliance News) - Electra Private Equity PLC on Wednesday said Edward Bramson acquired more shares and more convertible bonds in the company over the course of the past week.
Electra said Bramson, through his Sherborne Investors vehicles, bought 5,300 shares at an average price of 3,691.00 pence per share, plus 228 convertible bonds for GBP1,838 per bond. The transactions, worth GBP614,687, took place between December 22 and 29, Electra said.
Bramson had been engaged in a battle with the Electra board until November this year, when he emerged the victor and was granted a place on the company's board. He has become chairman of Electra's management engagement committee, which is responsible for reviewing the performance of Electra Partners, the firm which manages Electra Private Equity.
Bramson had previously heavily criticised the running of Electra Private Equity, suggesting the firm had underperformed for some time and that its performance had only improved since Sherborne starting building its stake in 2014.
Following the transactions over the Christmas period, Bramson and Sherborne hold a stake of around 31% in the private equity fund.
Electra shares were up 0.4% to 3,715.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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