LONDON - Investment firm Kestrel Partners LLP has increased its stake in Team Internet Group plc (AIM:TIG, OTCQX:TIGXF), an announcement on Thursday revealed. Over a series of transactions earlier this week, Kestrel Partners, on behalf of its discretionary client accounts, acquired a total of 292,130 ordinary shares at an average price of £0.7969 per share.
The purchases, made on Monday, Tuesday, and Wednesday, have raised Kestrel's total indirect voting rights in the digital services company to 26.53 percent. This aggregate holding now amounts to 67,641,473 shares. Kestrel's acquisitions were conducted through various nominees, with the largest portion of shares, 24,396,754, held by Bank of New York Nominees Ltd, representing 9.57 percent of the company's total voting rights.
Mr. Royde, a partner at Kestrel Partners, is considered to have a beneficial interest in the firm's holdings due to his shareholder status in both Kestrel and Kestrel Opportunities. Following the transactions, Mr. Royde is deemed to have a beneficial interest in 17,926,535 shares held by Kestrel Opportunities, in addition to the shares held by other Kestrel clients.
The notification of these dealings comes in accordance with the market regulations that mandate disclosure when persons discharging managerial responsibilities, or persons closely associated with them, undertake transactions involving the company's shares.
The London Stock Exchange (LON:LSEG)'s AIM market was the platform for these transactions, which have been publicly disclosed as per regulatory requirements. This information is based on a press release statement from Team Internet Group plc.
Investors and market observers often monitor directors' dealings as they can provide insights into the confidence levels of a company's management in its own business prospects. However, it is important to consider such transactions within the broader market context and not as a sole indicator of a company's performance or potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.