(Alliance News) - Redde PLC said Thursday that Woodford Investment Mangement Ltd has reduced its stake in the company to 20% from 28% in a deal on Wednesday.
Shares in the accident management solutions provider closed 1.0% lower at 103.80 pence on Thursday.
On Monday last week, Woodford's Investment Management took the decision to suspend withdrawals from the equity income fund, due to "an increased level of redemptions", with the fund now needing time to "reposition" its portfolio invested in unquoted and less liquid stocks into more liquid investments.