UKRD, owner of several radio stations around the South of England including Eagle and Pirate, has taken over seven million shares in The Local Radio Company, equating to almost 10 per cent of the company.
The shares were purchased in two parts, 5,000,000 on February 13th and 2,125,000 on the 16th, for 4 pence each. In total 7,125,000 shares were bought, giving UKRD 9.89 per cent of The Local Radio Company.
This transaction could see UKRD working more closely with TLRC, of which Town and Country Broadcasting owner Jason Bryant is at the helm.
In addition, TLRC announced that Aim Realisation Fund Limited, as a result of recent sales, now holds a total of 6,537,475 shares in the Company representing 9.08 per cent of the voting rights. These shares are held in the name of Forest Nominees Limited.
RadioToday.co.uk is awaiting response from UKRD on their future plans. TLRC is unable to comment on market activity.