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LONDON - Spreadex LTD has reduced its stake in Phoenix Copper Limited (LSE:PXC) to 2.39% of voting rights, according to a regulatory filing released today.
The St. Albans-based financial services firm now holds 4,946,250 voting rights in Phoenix Copper through financial instruments, specifically CFDs and spread betting positions. This represents a decrease from its previous position of approximately 3.02% of voting rights.
The threshold was crossed on Wednesday, with the issuer notified on Thursday, according to the TR-1 standard form for notification of major holdings submitted to the London Stock Exchange (LON:LSEG).
Spreadex holds no direct voting rights in Phoenix Copper, with its entire position consisting of financial instruments according to the filing. The firm is not controlled by any natural person or legal entity and does not control any other undertaking holding an interest in Phoenix Copper.
Phoenix Copper Limited is a UK issuer with operations focused on mining development. The notification was made in compliance with Financial Conduct Authority regulations requiring disclosure when shareholdings cross certain thresholds.
Spreadex is an FCA-regulated provider of spread betting and CFD trading services founded in 1999, offering trading across various global markets including UK small caps.
The information was disclosed in a regulatory news service announcement based on a press release statement from Phoenix Copper Limited.
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