22nd Jul 2020 16:58
Manchester & London Investment Trust PLC - technology-focused growth-stock investor - Mark Sheppard, owner of the trust's manager M&L Capital Management Ltd, subscribes to 1.7 million shares via M&M Investment Co PLC at 646.5 pence, equal to latest net asset value. An additional 528,000 shares subscribed by other investors, unconnected to M&M, meaning Manchester & London raises GBP14.7 million in total on Wednesday. Sheppard now interested in 19.1 million shares, a 52.8% controlling stake. "We are pleased to have the support of our major shareholder and other shareholders in providing funding at the latest reported NAV," says Director Brett Miller. "The larger the fund gets the more liquid the trading in its shares become, the discount narrows and fixed costs are increasingly diluted across a wider asset base."
Current stock price: 658.00p
Year-to-date change: up 18%
By Tom Waite; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Manchester&lon.