{"id":4773,"date":"2006-07-26T00:00:00","date_gmt":"2006-07-26T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"us-hedge-fund-stalks-mytravel","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2006\/us-hedge-fund-stalks-mytravel.html","title":{"rendered":"US hedge fund stalks MyTravel"},"content":{"rendered":"<div class=\"writeboardbody\">  WEST PALM BEACH, FL (HEDGECO.NET) &#8211; MyTravel Group <span class=\"caps\">PLC<\/span>, the package holiday company based in the UK escaped bankruptcy a few years ago when the Financial Services  Authority (FSA) fined the company for an unaccounted \u00c3\u2026\u00c2\u008124.3 million in the previous year\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s published accounts, causing a breach of the Listing Rules in July 2002.  <\/p>\n<p>    Now according to TimesOnline, Pardus Capital, an activist American hedge fund, had acquired a 4% stake in shares at MyTravel. Activist hedge funds pressure company management to boost share    prices by unlocking shareholder value, it is believed that the hedge fund may pressure MyTravel to boost its share price by selling parts of the business or merging with rivals..  <\/p>\n<p>    Shares in MyTravel have dropped 4.5 per cent this year. Last month it reported that pre-tax losses for the six months to April 30 had dropped to \u00c3\u2026\u00c2\u008170.3 million from \u00c3\u2026\u00c2\u0081119.5 million a year earlier.  <\/p>\n<p>    The group includes brands such as Airtours, Aspro, Cresta, Direct Holidays, Escapades, Manos and Panorama in the UK, Sunquest and <span class=\"caps\">ALBA<\/span> Tours in North America, and Ving,    Always, Tjoreborg, Spies, Skibby, MyTravel Tango, Bridge and Saga Solreiser in Scandinavia. The company also includes an in-house airline, MyTravel AirwaysMyTravel  <\/p>\n<p>    MyTravel is a listed company whose shares are traded on the <span class=\"caps\">LSE<\/span>.  <\/p>\n<p>    Alex Akesson<br \/>    Contributing Writer<br \/>    HedgeCo.Net<br \/>    Email: Editor@hedgeco.net  <\/p>\n<p>    HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge    Funds!  <\/p>\n<p>    <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=\"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong>    and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>  <\/p>\n<p>    &nbsp;  <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>WEST PALM BEACH, FL (HEDGECO.NET) &#8211; MyTravel Group PLC, the package holiday company based in the UK escaped bankruptcy a few years ago when the Financial Services Authority (FSA) fined the company for an unaccounted \u00c3\u2026\u00c2\u008124.3 million in the previous [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4773","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4773"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4773\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}