Tuesday 2nd August 2011 1 Comment
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United States-based fund manager Baker Street Capital is continuing to build its stake in Pyne Gould Corp (PGC).
The Los Angeles-based fund today disclosed an 11.77 percent stake in PGC, up from 10.75 percent in the last disclosure on July 22. The fund purchased 187,769 shares at 35 cents a share on market on July 29. The stake has risen from just over 5 percent in a matter of weeks.
New Zealand businessman George Kerr controls 14.97 percent of the company through Pyne Family Holdings, according to the 2010 annual report.
Baker Street is a value-focused fund modelled after the partnerships managed by Warren Buffett, according to its website. It has taken an activist approach to some of its other investments.
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