ACCUMULI 1 October 2013
After some major movement of the shares in cyber threat company Accumuli last week, there has this morning been as expected, an RNS.
Holders and watchers of the shares alike already had their suspicions that MXC which had been selling down had now exited, all that was needed was confirmation of this with some revelation as to who had acquired the large line of stock. That has this morning been confirmed, with Oryx International Growth fund which is headed by the well known activist Investor Christopher Mills now sitting on 12.4%. The move looks a highly interesting one to me as the fund openly admits that it targets companies that have strong business models, but may individually have factors which constrain their performance. This they add may be addressed by Oryx taking an activist approach as a shareholder.
Interestingly Oryx added to its stake in Goals Soccer Centres back in July, by taking Harwood Capitals large holding on board.
Yesterday was the last day of the quarter for Accumuli and coincided with the news that CEO Gavin Lyons had also picked up 200k shares which was a maiden purchase for him. Having met up with Gavin and covered the company for the Cambridge News I have warmed to the story and the prospects for the company that looks to be in the right place at the right time. Clearly Mr Mills has spotted potential here and it should be interesting to see how things pan out ahead.