Hutchings boosts lowly Lupus
13 April 2012
ENTREPRENEUR Greg Hutchings today revealed details of his City comeback, announcing he was investing £2.14m in stock-market tiddler Lupus Capital in return for a 12.5% stake and the executive chairmanship.
Hutchings, who built Tomkins into one of Britain's biggest conglomerates before being ousted suddenly in 2000, will use Lupus to acquire undervalued businesses. Shares in the financial services firm, which surged on speculation that Hutchings was joining, were up another 20% today at 11.25p.
Hutchings and his fellow executives could be given up to 190m Lupus shares if they achieve performance targets.
