Fidelity sells UTV shares

THE investment group, Fidelity, has taken advantage of the recent strength of the Ulster Television share price, selling half…

THE investment group, Fidelity, has taken advantage of the recent strength of the Ulster Television share price, selling half of its shares for around £4.6 million sterling. Fidelity said it sold the 356,570 shares on April 4th when the shares were trading at just over £13 each. Following the sale of half its shareholding, Fidelity retained a 3.39 per cent stake in UTV. The fund management group decided to sell half its shares even though UTV planned to pay a special dividend of £1 a share on July 1st.