1st Jul 2015 10:03
LONDON (Alliance News) - Toscafund Asset Management LLP has increased its shareholding in internet media firm Blinkx PLC Wednesday to over 11%, making it Blinkx's largest shareholder.
Toscafund now has an 11.298% interest in the company, or 43.9 million shares, increased from the 5.8617% interest it held in Blinkx in May.
In May Blinkx's shares took a hit after it posted a swing to a pretax loss for its recently ended financial year as it invested heavily in an attempt to address "rapid industry changes" and a decline in revenue was further compounded by pressure on margins.
Shares in the company are trading up 2.8% at 27.75 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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