Tom Charlton has acquired the Pension Protection Fund’s stake in Feedback taking his shareholding in the shell to 26%.
Trevor Brown had previously increased his stake to 26.9%.
Charlton was a non-executive director of Feedback between January 2003 and November 2004. He is a former managing director of Merrill Lynch Investment Managers. Charlton owned a 10% stake when he was appointed a non-executive director.
Feedback’s disposal of Feedback Data and the sale of its property paid off its debts and left it with £700,000 in the bank. The new investing strategy is the acquisition of a software and IT sector business that requires little additional funding.
At 0.83p a share, Feedback is valued at £1.09m.
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