CITY FINANCIER Richard Griffiths yesterday emerged as a significant shareholder in Edinburgh dating site business Cupid.
Griffiths, who founded investment bank Evolution in 2000 before setting up boutique investment firm ORA Capital Partners in 2005, owns a 4.53 per cent stake in Cupid according to a stock exchange announcement. The filing followed a purchase that took his holding above the 3 per cent level at which ownership needs to disclosed.
The 3.2 million shares, held via Seren Capital Management and Cream Capital – which are controlled by Griffiths – are worth around £1.1 million at Cupid’s current share price. Shares in the firm have almost halved over the past year.
Griffiths was also a significant shareholder in Aberdeen-based oil and gas firm Eland when it floated in 2012. Earlier this year it was revealed that activist investment group Kestrel Opportunities has also increased its stake in Cupid. Shares in Cupid closed up 0.25p at 36.75p.