Klippan Paper chairman Jan Bernander has bought 2.45m shares in Inveresk in an individual capacity.


The deal, which amounts to a 4.82% shareholding, was announced in a letter to the company announcement office, saying: "Jan Bernander in an individual capacity has acquired the shares beneficially."


The deal is made more interesting because Klippan acquired 3.8m shares last year and indicated its desire "to improve its shareholding and seek representation on the board of Inveresk."


At the time, Bernander said: "We have promised shareholder value, and this purchase of Inveresk shares and a co-operation with them is the first step."


Inveresk group finance director Gerard Cassels said a few people had purchased "small amounts of shares" recently, but nothing as significant as Bernander's purchase. "If no buyer is found for East Lancashire Paper, our position is significantly strengthened in the fine uncoated woodfree market," Cassels added.


Inveresk shares have been trading at between 9p and 10p, but since the deal have gone up to nearly 12p.


Klippan produces uncoated and coated printing and writing papers along with speciality grades.


Story by Andy Scott