- Baskerville said its proposed second subscription investment into Oberson Investment would be reduced following better-than-expected trading.

'Due to the recent organic growth and improved cash flow, the second subscription was consequentially lower than initially expected, the company said.

Since the original investment in Oberon was made, assets under administration at Oberon had grown organically from £120m to just under £200m, despite the decline in markets triggered by the Covid pandemic.

The completed a second subscription of £295,390 for a further 2.3% of the equity of Oberon, well below the initially proposed subscription of £350,945.

In January, Baskerville acquired a 7.83% shareholding in Oberon Investments for £850,640 to help accelerate Oberon's growth plans.

Following progress over the last few weeks, the company said it now expected the proposed acquisition would be completed before the end of Q3 2020.

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