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Regional newspaper owner Sir Ray Tindle has increased his stake in Johnston Press, bringing his shareholding to eight per cent or about £3.1 million.

In a stock market alert on Friday afternoon , Johnston Press confirmed that Tindle now owned 51.18 million shares in the company. Today's share price is in the region of 6p.

The shares are owned by Tindle Newspapers Limited, which is owned and controlled by the veteran newspaper owner. He has been steadily building his stake in Johnston since last summer, believing the company's share price to be under-valued. Johnston Press is due to issue a trading update on Thursday, reporting on how the business has fared since January.

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Written by
Paul McNally

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