Strengthens position as largest shareholder
DNATA group, a member of the Emirates Group, has strengthened its position as the major shareholder in UK travel management company HRG.
The Middle East company has raised its stake from 19.99% to 20.15% with the purchase of a further 645,277 ordinary voting shares.
The move comes almost immediately after the second major shareholder, Beverweerd Investments, a private company owned by the family of John Fentener van Vlissingen, chairman of BCD Holdings, increased its stake by 3% to 19.02%.
BCD Holdings is the owner of BCD Travel, one of HRG's major global rivals.
The move has intensified speculation that BCD or Dnata are plan a take over bid for the TMC.
Beverweerd began buying shares in HRG, which became a plc in 2006, in December 2007 and increased its stake steadily throughout 2008.
DNATA, based in the United Arab Emirates, bought its shares in two purchases last June.
Over the December and January, three HRG directors, David Radcliffe, the ceo, Julian Steadman, the chief financial officer and John Coombe, the chairman all increased their holding in the plc.
In December Mr Radcliffe bought 281,198 ordinary shares at between 11.3855p and 10.9235p and later a further 248,831 at 4.035p per share.
The two purchases give him a 0.74% stake in the company.
Mr Steadman bought 344,945 ordinary shares at prices between 11.3607p and 10.8413p in December and later bought an additional 246,106 at 4.035p per share.
His stake in the company is 0.27%.
Mr Coombe also in December, bought 150,375 ordinary shares at 6.65p each and last week, he bought a further 185,925 ordinary 1p shares at 5.3785p per share.
He now holds 719,583 ordinary shares, about 0.23% of the company's voting rights.
Shares in HRG have been rising this year and stood at 13p this morning (January 12).