News blog
Alliance Pharma
- BY: Andrew Hore |
- POSTED: 13/01/2009 |
RAB Capital has taken advantage of a rising share price to reduce its stake in Alliance Pharma.
Last week, the pharmaceuticals supplier revealed that its 2008 profits would be at least £2.3m, against original expectations of £2m.
The day after this statement RAB sold just over 2m shares in Alliance. The RAB Special Situations (Master) Fund retains a 10.99% stake in Alliance.
At one point the shares had risen by 1.875p to 5.5p each, although they have fallen back to 4.375p. That values Alliance at £7.09m. Net debt was £32.4m at the end of June 2008. That includes £7.27m of convertible debt.
The shares are trading on less than four times 2008 estimated earnings.
Nigel Wray purchased 1m shares on 6 January, taking his stake to 7.51%.
Sales and marketing director Tony Booley bought 100,000 shares at 4p a share after the trading statement on 8 January. Booley owns 4.2% of Alliance.
© 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 This material may not be published, broadcast, rewritten or redistributed.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
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|