RE: 7.26%1 Feb 2018 00:06
Paul Curtis is a private investor who targets what he sees to be bargains being a large share holder in many companies. Below is an example of an article which mentions him.
Paul Curtis, the activist private investor who targets cash-rich distressed companies, has picked up his first notifiable holding at troubled stem cell research company Reneuron Holdings.
Curtis has built a 1.25 million share holding though his George House Holdings, equivalent to 3.48% of the tiny �1.3 million company (REN) which stands unchanged on 3.5p today. When we spoke to Curtis yesterday he confirmed he bought the shares 'a few days ago.'
He said: 'I bought it for the discount to cash, I hope there is up to 12p a share of cash or even perhaps a little more than that. It has an horrendous burn rate but I bought because I am confident the management will act, whether it be to liquidate and return cash or raise more. It's just a punt.'
At the end of March last year Reneuron declared cash reserves of �8.8 million which were to last through to the end of this year or early 2004.
Reneuron became Europe's first quoted stem cell research company in late 2000 and came to Citywire's attention when we revealed the Privy Purse, the vehicle for the Queen's personal investments, had taken a stake in the company. It is unclear whether she still holds any shares.
If Her Majesty had held on to shares she would be cursing now as worries over funding and the recent failure of a pain drug in clinical trials have hit the share price. The pain drug was an early development ahead of its main objective of developing a treatment for neuro-disorders such as Parkinson's using the stem cells of aborted foetuses.
When we spoke to Michael Hunt, Reneuron's finance director, about Curtis' purchase he said: 'We do not know the reasons for his buying but with the share price fall people can see an opportunity whatever endgame they are pursuing'