RE: News11 Feb 2015 10:37
EPIC code: GUSC
Exclusive: Nigel Wray (Britain’s Buffett) takes 8% stake in Guscio
By Tom Winnifrith | Wednesday 11 February 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Two days ago AIM listed Guscio (GUSC) announced that it had raised £610,000 (before expenses for the crony capitalist broker and nomad) at 8p. The placing was only intended to raise £500,000 but done at just below the offer it was oversubscribed.
A reliable source tells me that Nigel Wray, the man known as Britain’s Buffett, participated in the placing and now owns c8% of the company. Wray has in recent years been investing relatively little in AIM stocks preferring to make unquoted investments, partially funded with the net £30 million plus he made from selling down his holding in Domino’s Pizza (DOM) where he was an early backer.
Wray is known as a long term value investor with an average holding period for his shares of almost a decade.
Shares in Guscio now trade at 8.5p-9.5p
Wray will be among the keynote speakers at UK Investor Show on April 18 speaking in a session on value investing with top share blogger Paul Scott, top fund manager Paul Jourdan of Amati and Chris Bailey. You can book your seat HERE