TechMARK movers: Gartmore increases TIG stake

13th Jan 2010 15:09

Shares in insurance process software and services supplier The Innovation Group have slipped back after a strong performance over the past month.The TIG share price has increased by more than one-fifth in one month even after the latest decline. Buying by institutional investor Gartmore has helped. In the past week Gartmore has increased its stake from 56m shares to 186m shares, which is equivalent to 20.1% of TIG. Prudential has been a seller. TIG raised £21m via a placing and open offer at 10p a share just before Christmas. Small pockets of buying have helped the Visonic share price recover following Monday's announcement that it intends to delist from the Main Market. The shares will still be traded on the Tel-Aviv Stock Exchange so there will be a market to provide a share price and trading platform after the security alarm technology developer leaves London. Many share prices drop sharply when a delisting is planned but this alternative market has helped to reduce the share price decline. Visonic does not have 25% of its shares in public hands so it does not satisfy the requirements for a London listing. The delisting it is likely to happen on 5 March. FTSE TechMARK - RisersVisonic (VSC) 67.50p +5.47%Phytopharm (PYM) 11.50p +4.55%Total Systems (TTS) 26.50p +3.92%Consort Medical (CSRT) 395.00p +3.54%Sepura (SEPU) 44.50p +3.49%Dialight (DIA) 228.00p +2.47%Micro Focus International Plc (MCRO) 500.00p +2.42%Oxford Biomedica (OXB) 11.25p +2.27%KCOM Group (KCOM) 45.75p +2.23%CML Microsystems (CML) 26.00p +1.96%FTSE TechMARK - FallersBTG (BGC) 172.10p -4.39%Trafficmaster (TFC) 30.00p -4.00%Torotrak (TRK) 26.00p -3.70%Fidessa (FDSA) 1,231.00p -3.45%Wolfson Microelectronics (WLF) 132.75p -2.75%Innovation Group (TIG) 12.00p -2.04%Puricore (PURI) 12.50p -1.96%Kewill (KWL) 101.00p -1.94%Sinclair Pharma (SPH) 33.00p -1.49%RM Group (RM.) 160.00p -1.23%Emblaze (BLZ) 43.00p -1.15%Alterian (ALN) 189.00p -1.05%