Elliott Bernerd of international property developer Chelsfield is taking a significant stake in AIM-quoted chartered surveyor and property adviser Fletcher King (LON: FLK). He is buying the shares at a premium to the market price, which rose 5p to 50p (45p/55p) a share after the investment was announced. Elliott Bernerd can see the attractions of the business and its customer base at this share price.
The acquisition of the shares is conditional on FCA approval because the stake will be above 10%. This approval is expected before the end of 2021.
Elliott Bernerd has recommended Matthew ...
