• Text size      
  • Send this article to a friend
  • Print this article

Gyllenhammar reduces Superglass stake again

INVESTOR Peter Gyllenhammar has reduced his stake in insulation-maker Superglass for the third time this month.

At the start of January, he held 14.7% of the Stirling business but sold 2.6 million shares to reduce his holding to 9.4%.

The sale of a further 850,000 shares eroded his holding to 7.7%

Yesterday, a stock market announcement confirmed that Mr Gyllenhammar's Union Discount Company of London had reduced its stake to less than 3%.

Superglass shares closed the day unchanged at 5.52p.

It reported flat revenue in the 12 months to August 31, and narrowed operating losses from £4.3 million to £2.5m.

The company is implementing a major turnaround plan to shave around £1.4m in costs.

Contextual targeting label: 
Finance

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

136899