28th Nov 2013 10:09
LONDON (Alliance News) - SPARK Ventures plc Thursday said it has sold its remaining stake in notonthehighstreet.com for GBP11 million in cash.
It said the sale has substantially increased its cash balances and brings its total returns to GBP12.8 million from an initial investment of GBP0.7 million in 2007/8, a multiple of 18 times the initial investment and an 8% uplift to the previously disclosed book value.
It sold the stake to a specialist US fund and some existing notonthehighstreet.com investors.
Spark Ventures shares were up 9.3% at 11.75 pence Thursday morning, one of the biggest gains on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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