(Alliance News) - GYG PLC on Monday said Woodford Investment Management Ltd slashed its stake in the superyacht supply and service firm to less than 5% from 20%.
Woodford Investment Management's precise stake following the Thursday sale was not disclosed, save that it was below 5%. Prior to that, the stake was 19.98%.
Woodford Investment Management has cut stakes in numerous London-listed investments in recent months following fund manager Neil Woodford's decision to suspend withdraws. This includes IP Group, in which Woodford Investment Management dropped its stake to below 5% from 13% in late September.
Shares in GYG were up 1.9% at 53.50 pence in London on Monday afternoon.
By Anna Farley; annafarley@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.