Ann: Change in substantial holding, page-3

4:17:19 PM
$1.640
14,458,904
$23,712,602.560   
CXA SP XT



Movement at bombed out Bravura, Jarden crosses 6pc stake

As bankers run around and pitch Bravura Solutions as a take-private candidate, not everyone on the share register is sticking around to see whether it gets a bid.

Jarden’s equities desk crossed a line of 14.5 million shares at $1.64 a share late on Monday, narrowly below the $1.65 official closing price.
The stake represented nearly 6 per cent of Bravura’s shares on issue.
There’s a handful of substantial shareholders on the Bravura’s register who could’ve been the seller, including fund managers Invesco, Mawer Investment Management and Canada’s Connor, Clark & Lunn Financial Group.
Fundies reckon Invesco was the most likely seller, given it has been steadily reducing its stake in recent months.
It comes amid a torrid time for Bravura investors. The stock has halved in the past six months, with investors worried about its long-term contracts and inability to adjust pricing.
The dramatic fall has seen Bravura pop back up on private equity funds’ radars. The company was formerly owned by Sydney-based buyout firm Ironbridge.

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