5th Oct 2015 09:06
LONDON (Alliance News) - Investment company Legendary Investments PLC on Monday said the founder of personalised greeting cards company Moonpig.com has bought a stake in Virtualstock Holdings Ltd, the order management and inventory management software company.
Legendary owns a 7% stake in Virtualstock.
It said Nick Jenkins, the founder of Moonpig, has purchased a small stake in Virtualstock at a valuation of GBP58.0 million. He has acquired the stake from Virtualstock's founders, who continue to own the majority of the business.
The valuation places a value of just over GBP4.0 million on Legendary's stake in the company, it said.
Legendary shares were up 42% on the news to 0.114 pence, the best performers in the AIM All-Share mid-morning on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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