Newport Holdings’s chief executive, Peter Lewin, has bought more shares in Newport’s takeover target, Delyn.
The Lewin Retirement Fund bought 5,000 shares for £4,250 on Tuesday,bringing the fund’s stake in Delyn to 5.8%.
The move follows Newport’s announcement that less than 1% of Delyn’s shareholders support its £8.4m hostile bid.
Other shareholders have until next week to decide whether to accept. Four UK institutions own around half of Delyn’s shares. Delyn’s management holds some 30%.
In a separate bulletin, Newport unveiled a four-fold increase in interim pretax profit to £264,000 for the six months to June 30.
