Optimisa Group shares rise on 1.5m trade

UK-- Shares in Optimisa, a research and competitive intelligence group, were up more than 83% to 45p in trading today.

The rise follows a major transfer of stock last Thursday in two separate trades, both of which occurred at 2.44pm and at the price of 24.88p per share. In the first trade, 1.25m shares were bought for £312,000 while 271,200 shares changed hands in the second trade for £67,000.

It was revealed today that Norwegian investment firm Gimle Finans had bought the combined 1.5m shares, giving it a 17% share in the group, which owns KAE: Marketing Intelligence, Buckingham Research and Quaestor.

At least some of the shares were sold by Octopus Investments as the firm informed Optimisa today that as of 26 February it “no longer had a notifiable interest in the ordinary shares of the company”.

Optimisa is headed by CEO Simon Dannatt. In September, the firm warned it had missed its targets for the first half of 2008 amid “extremely difficult” trading conditions. Earlier in the year the firm issued a profit warning and announced that it had shelved expansion plans, put acquisitions on hold and embarked on a cost-cutting drive.

It is expected to report its full-year results in April.

Author: Brian Tarran