Harbour Energy PLC (LSE:HBR) revealed that EIG decreased its notifiable interest in the oil and gas company to 16% from 37%.
The change reflects a distribution of EIG's shareholding in Harbour to some of its underlying investors, rather than a sale of shares, Harbour Energy said in a statement.
It means EIG is only entitled to one shareholder-nominated director on Harbour’s board, but both R Blair Thomas and Steve Farris will remain due to their extensive oil and gas sector experience.
Thomas will stay as chairman of Harbour, while Farris is expected not to stand for re-election at the next AGM in 2023.
Harbour shares jumped 1.8% to 324.8p on the news.