4 April 2012 – secondary placing
The group’s largest shareholder, Kerbet Limited, which owns 26.5% of the group, has revealed that it is to sell 10.3% of the company through a secondary placing. This has caused the shares to fall sharply as clearly any short term demand will br satisfied by the placing. Although Kerbet represents the holdings of the chairman of Kentz and also a non-executive director of the company, it will still be left with a holding of over 16.2% of Kentz and the disposal has merely been undertaken to diversify its assets. Although in the short-term the shares are unlikely to perform, they remain a LONG TERM BUY.