CITY veteran John Gunn (pictured) said yesterday he hoped his near £3m investment in Aim group Rotala would come good at some point and result in a tidy nest egg for his family.
The former head of British & Commonwealth, whose company collapsed after the £410m acquisition of Atlantic Computers, has been left exasperated by the gradual share price decline in Rotala, which has just announced the purchase of Preston Bus. Gunn is currently chairman of the Aim-listed group and a 25 per cent shareholder.
Rotala’s shares have fallen from a high of 52p to as low as 25p over the past few months. Gunn says the disposal of shares by four institutions after the departure of four individual fund managers who were fans of the stock has not helped.
Rotala is forecast to make a £1.9m profit in the year to November 2010.
Says Gunn: “We were worth twice as much as we are now when we were losing money.”
Gunn and chief executive Bob Dunn have agreed to subscribe a total of £265,000 in a share placing.