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LONDON - Kinney Asset Management, LLC has reduced its stake in LSL Property Services plc (LSE:LSL) to 4.52% from 8.95%, according to a regulatory filing released Monday.
The Chicago-based asset manager now holds 4,615,636 voting rights in the UK property services company, down from its previous position. The threshold was crossed on November 26, with the company notifying LSL Property Services two days later.
The holdings are owned through various clients of Kinney Asset Management, according to the notification of major holdings submitted to the London Stock Exchange.
The disclosure was made in compliance with UK regulatory requirements, which mandate investors to report when their stakes cross certain thresholds. The filing was submitted under the standard TR-1 form for notification of major holdings.
LSL Property Services, listed on the London Stock Exchange, currently has a total of 102,205,474 voting rights outstanding.
The notification did not provide reasons for the reduction in stake or indicate any changes in Kinney’s investment strategy regarding the property services firm.
This information was disclosed through a regulatory announcement based on a press release statement submitted to the London Stock Exchange’s news service.
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