SMALLER companies and technology specialist Max Royde has shown increasing affection for Scottish internet dating company Cupid, by boosting the holding of his Kestrel Opportunities fund in the under-pressure firm.
Mr Royde, previously head of technology stocks at broker Peel Hunt before founding Kestrel, has established the London-based fund manager as the biggest investor in Cupid behind its co-founder Bill Dobbie.
Cupid, which owns sites including Cupid.com, UniformDating.com, and over-45s service Lovebeginsat.com, told the stock market that Kestrel had upped its stake to 14.49%.
Its 10.3m shares are worth around £4.6 million.
Kestrel has boosted its holding by three million shares in recent days according to two filings to the stock exchange.
Mr Dobbie, who stepped down as chief executive five months ago, is the company's biggest investor with 20.61% of Cupid.
Kestrel declined to discuss its investment.
Mr Royde said: "We do not really speak to anyone outside our organisation as to what we are doing and why."
Guernsey-based Kesterel Opportunities fund was established to take advantage of "acute lack of investment in quoted smaller companies".
Cupid's shares, which peaked at 249p three years ago, have been trading below their 2010 list price of 60p in recent weeks. They closed yesterday at 44.25p, up 0.25p or 0.57% on the day.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article