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Dexapoint buys 14.8% stake in ID Data

10 January 2008  |  2497 views  |  0 Source: ID Data

ID Data Group Plc (AIM:IDD), the smart card solutions and outsourcing business, was notified, yesterday, that Dexapoint United Corp ('Dexapoint'), a fund managed in Zurich, Switzerland has acquired 195,875,000 ordinary shares in the capital of ID Data at a price of 1.1 pence per share (value 7 January 2008), valuing the stake acquired at £2.15 million.

This represents 14.8 % of the equity and voting rights of ID Data. These shares were previously held by RAB Special Situations Master Fund.

Commenting on this transaction Peter J Cox, CEO of ID Data, said: "I welcome Dexapoint as a new major shareholder in ID Data and I hope that this investment may lead to the introduction of additional card related business to ID Data's production platforms and assist with the development of strategic relationships through Dexapoint's other card related investments."

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