1st Feb 2019 14:57
LONDON (Alliance News) - Software services firm Ingenta PLC said Kestrel Partners LLP acquired 50,000 shares at 76 pence per share on Thursday.
Kestrel acquired the shares on behalf of its discretionary clients for GBP38,000 and is the investment manager of Kestrel Opportunities.
Ingenta Non-Executive Director Max Royde is a partner of and holds a beneficial interest in Kestrel, as well as being a shareholder in Kestrel Opportunities.
Kestrel Opportunities holds, and thus Royde has a beneficial interest in, 3.4 million shares in Ingenta. The 50,000 shares were purchased on behalf of Kestrel's other clients, in which Royde has no beneficial interest.
Following this transaction, and on a combined basis, Kestrel indirectly holds voting rights over 4.6 million shares in Ingenta or approximately 27% of its issued share capital.
On Wednesday, Ingenta said it had experienced a double-digit decline in earnings in 2018 due to a restructuring of the business.
Ingenta expects to report revenue of GBP12 million and adjusted earnings before interest, taxes, depreciation, and amortization of GBP800,000. In 2017, the company generated revenue of GBP14.7 million and adjusted Ebitda of GBP1.4 million.
Shares in Ingenta were down 2.0% at 74.00p on Friday afternoon.
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