LONDON - Kestrel Partners LLP has recently bolstered its investment in Team Internet Group plc (AIM:TIG, OTCQX:TIGXF), acquiring an additional 189,029 ordinary shares across several transactions last week. This series of purchases, conducted on behalf of Kestrel's discretionary client accounts, took place on the London AIM from Monday through Friday at an average price of £0.8398 per share.
Max Royde, a non-executive director of Team Internet Group and a partner at Kestrel, is linked to these transactions through his beneficial interest in the firm. Following these dealings, Kestrel Opportunities, a client of Kestrel Partners, now holds 17,926,535 shares, representing 7.01% of the company's total voting rights. Other Kestrel clients collectively hold an additional 49,422,808 shares, where Mr. Royde has no beneficial interest.
The cumulative effect of these transactions has increased Kestrel's indirect voting rights in Team Internet Group to 26.35%, spread across various nominees including Bank of New York Nominees Ltd, JIM Nominees Limited, CB NYK - CITIBANK N.A.-PRIVATE BK, and Northern Trust (NASDAQ:NTRS) Company AVFC.
The shares in question are ordinary shares of £0.001 each, traded under the ISIN: GB00BCCW4X83. The notification of these dealings is in line with the regulatory requirements for public disclosure of transactions by persons closely associated with persons discharging managerial responsibilities within a publicly-traded company.
These transactions have been publicly disclosed in accordance with the UK's Financial Conduct Authority regulations and the London Stock Exchange (LON:LSEG)'s rules. The news comes directly from a press release issued by Team Internet Group plc, providing a transparent account of the trading activities involving its shares.
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