(Alliance News) - Woodford Investment Management Ltd has slashed its stake in Benchmark Holdings PLC by at least 7%, the aquaculture firm said Tuesday.
In a transaction carried out on Friday last week, Woodford reduced its holding to below 5% from 12%.
Benchmark shares were 6.9% higher on Tuesday morning at a price of 54 pence each.
At the beginning of June, Woodford, led by fund manager Neil Woodford, took the decision to suspend withdrawals from its flagship equity income fund due to "an increased level of redemptions" requiring it to "reposition" its portfolio invested in unquoted and less liquid stocks into more liquid investments.
On Tuesday, Woodford's LF Equity Income Fund said withdrawals would remain suspended indefinitely, and at least for another month.
Woodford Investment Management also manages LF Woodford Income Focus Fund and London-listed Woodford Patient Capital Trust PLC.
In recent weeks Woodford has reduced its stake in, among other companies: private equity investor Oakley Capital Investments Ltd; housebuilders Countryside Properties PLC and Crest Nicholson; and support services firm Redde PLC.
Benchmark Holdings (BMK)