News blog

Gladstone

  • BY: Andrew Hore |
  • POSTED: 17/03/2008 |

Constellation Software Inc has built up a 28.95% stake in membership software developer Gladstone.

Hargreave Hale has sold its 15.7% stake, Schweco Nominees its 6.1% stake and Bluehone its 3.1% shareholding. The shares appear to have changed hands at around 25p.

Constellation previously built up a stake of 10.6% in Gladstone but sold 5.5m shares in April 2007. Most of these appear to have been bought by Hargreave Hale. The shares were trading at a similar level to now. Gladstone’s share price is lower than last April.

Constellation increased its 2007 revenues by 15% to $243m. It swung from a small loss to a $15.1m profit. That includes gains of £1.37m on the sale of quoted shares - the Gladstone stake possibly contributed to that. Constellation had $21m in cash at the end of 2007.

The shares rose 5p to 24.75p on Friday, but slipped 1.25p on Monday. That values Gladstone at £11.8m. It has net cash of nearly £5m and a £2m freehold property. 

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds