Well-known UK investor buys into Irish mobile firm Zamano
High profile UK investor Guy Thomas has accumulated over a 1pc stake in Irish technology firm Zamano, which has been waiting for formal takeover offer to be made for the business for the past few weeks. Zamano currently has a market capitalisation of €14.5m.
Mr Thomas - an actuary and honorary lecturer at the University of Kent, who has invested in a wide range of companies - told the Irish Independent that he has "no special insight" into the progress of takeover talks between Zamano management and its suitor.
Zamano is the target of a takeover approach that was made back in August at 20 cent per share. Since then, the company has continued negotiating with that unnamed suitor, but no formal offer has yet been put to shareholders.
Mr Thomas said there appears to be a "good chance" that Zamano will receive an offer, but added that even if it doesn't, he likes the business as an investment.
Zamano develops and sells mobile solutions such as messaging, advertising and payment support tools to clients.
Mr Thomas acquired 50,000 shares in Zamano on Tuesday at 11.5p. That brings his total shareholding to 1.04m shares in the Irish firm, or 1.05pc of the company.
"It's quite a good business. It seems to have good cash flow," said Mr Thomas.
"I actively look for investment ideas which are likely to seem silly, embarrassing or trivial to those who think of themselves as 'serious' investors," Mr Thomas previously wrote on his investment blog.