12 December 2022, etc.venues Monument, London
Business Travel Show Europe, presented by The BTN
21 November, London Hilton Metropole
Company now owns 19.02% of TMC
Beverweerd Investments, an investment vehicle of the family which owns BCD Travel, has increased its stake in rival travel management company Hogg Robinson Group (HRG) to 19.02%.
The company, owned by the family of John Fentener van Vlissingen, chairman of BCD Holdings, bought about nine million shares in HRG, amounting to 3% of the total shareholding.
The purchase brings the holdings of the Dutch company to just under the stake of 19.99%, held by HRG's largest shareholder the DNATA group, a member of the Emirates Group.
HRG also announced that its chairman John Coombe had increased his shareholding in the company.
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.
Neither of the major shareholders has indicated that it plans a takeover bid for the UK-based TMC.
HRG said that Mr Coombe had bought a further 185,925 ordinary shares of 1p at price 5.3785p per share.
He now holds 719,583 ordinary shares, about 0.23% of the company's voting rights.
This is the latest in a series of sorties into the London Stock market by HRG directors.
In December David Radcliffe, HRG's ceo, 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.
Julian Steadman, HRG's finance director, 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 before his latest purchase, bought 150,375 ordinary shares at 6.65p each.
HRG shares were today (January 7) priced at 9.98p on the London Stock Exchange after closing yesterday at 6.50p.
The shares have been rising in value since the middle of last month.