INFLECTION Point Investments (IPI), a London asset manager set up by former Goldman Sachs employees Charles Elliott and Sasha Karim which runs a fund targeting emerging growth opportunities, has declared a 2.6% stake in Scottish technology group IndigoVision.
Investors in IndigoVision, which has been the subject of a power struggle between chairman Hamish Grossart and former chief executive Oliver Vellacott, are required to disclose stakes of 1% or more following Scottish Equity Partners' statement last Friday that it was considering making an offer for IndigoVision.
It is believed IPI has held its stake, disclosed in a statement to the stock market after the end of yesterday's pre-holiday, half-day trading session, for some time.
IndigoVision shares, which closed on Tuesday last week at 262.5p, ahead of the revelation the following day that SEP had acquired a 6.63% stake in the company for around £1.25m and then surged, dipped by 5p or 1.5% to 327.5p yesterday.
Mr Grossart and the IndigoVision board last month rejected three buy-out proposals from founder and 22.9%-shareholder Mr Vellacott and SEP at 225p, 248p and 265p a share.
Mr Vellacott's departure from IndigoVision was announced on December 9. He then requisitioned a meeting to vote on a resolution to remove Mr Grossart from the board, but last week agreed to backer SEP's request that he withdraw this requisition.
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