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PCG Entertainment up again as share sale completes

In total, 30.06% of PCG’s share capital changed hands
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Center Point deal is now history for PCG Ent

PCG Entertainment Plc (LON:PCGE) shares jumped by a third as a placing of a major stake in the online media group was completed.

In total, 30.06% of PCG’s share capital changed hands with a final chunk of 100.5mln (7.51%) being sold by Beaufort Securities.

The vast majority of the shares were those issued when PCG acquired Center Point Development, but this business has now been sold on following a dispute between CPD’s vendors and its main supplier that proved impossible to resolve.

PCG itself will receive around £420,000 following the share sales.

Nick Bryant, PGCE's  chief executive,  said: "This concludes the disposal on a very positive note, and brings additional funding into the Company. We look forward to reporting further good news to the markets in due course."

Shares  jumped 29% to 0.188p to make a gain of almost 80% in a week

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