ID Data ticks up on investor disclosure

ID Data ticks up on investor disclosure

Shares in ID Data have ticked up following the disclosure by financial conglomerate Fidelity International Limited of a non-beneficial interest in one million ordinary shares in the UK smart card systems vendor, representing 8.40% of its entire issued share capital.

ID Data said in July it was raising £4 million in a share placing and loan note conversion, which was required to secure the future of the company. Without the additional funding the group's directors would have to consider disposing of company assets or declare insolvency.

The group's share price rose 2.50% to 1.00 pence following the disclosure of Fidelity's interest. The interest was registered on behalf of Mellon Bank (84.3%) and Brown Brothers Harriman (Lux) (15.7%).

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