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Acquisition Pro raises stake in Genesis

Acquisition Pro Limited raised its holding in Genesis Energy, a Hungarian company that is building solar-panel plants in Hungary, Spain and Singapore, to 13.95% of voting rights on November 20, Genesis said on Tuesday.

The number of shares held by Acquisition Pro rose from 389,868 to 1,116,217 as a result of the transaction. Limited said it had not been informed of the sale of the shares, but discovered only at the end of the September in a letter form the bank that they had been sold in three transaction in July.

Acquisition Pro held 479,868 Genesis Energy shares at the end of August, but informed shareholders early October that 90,000 of the shares it placed with J&T Bank in Zürich had been sold without it being prior notified. Acquisition Pro said it would take the necessary legal steps to reclaim the shares. (MTI-ECONEWS)