News blog

Chamberlin

• BY: Andrew Hore |
• POSTED: 04/02/2013 |

Diverse Income Trust has taken advantage of the profit warning from foundries operator Chamberlin to increase its stake in the company.

Diverse Income Trust has added 50,000 shares, thereby taking its stake to 9.06%. Prior to the warning Diverse Income Trust acquired 35,000 shares.

The investment trust bought its initial 4.7% stake in July 2011 just after Chamberlin returned to profit and started paying dividends again. They were new shares placed at 135p each – an 8% premium over the close on the previous day. The trust has been a steady buyer since then and most, if not all, of the purchases will have been at above the current market price.

At 119.5p a share, Chamberlin is valued at £9.5m. The share price has fallen by more than one-quarter over the past month.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2013_40.pdf