Ultimate Finance, the Bristol-based factoring specialist which helps small to medium size enterprises (SMEs) manage their cash flow, today dismissed any thought of a takeover developing following the Stock Exchange announcement this morning that Helium Special Situations Fund has increased its stake in the company to 19.4%.
Chief executive Richard Pepler said: "They are an investment fund specialising in small cap businesses quoted on AIM which they see as undervalued. They bought a few more shares last week but their holdings have tended to creep up every few weeks. I know them very well – they are based in Zurich and have an English manager."
Ultimate Finance reported a 76% rise in pre-tax profits to £337,000 in the year to December 31, 2010.
