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Shares in JKX Oil & Gas PLC rose after the company said that Cascade Investment Fund no longer owns any shares in the company, says Bloomberg.
In a regulatory filing, the London-listed energy company said that Cascade - a private company established in 1993 by Vitaliy Khomutynnik - previously owned 19,97% of its issued share capital.
Based on Thursday's closing price of 36 pence, the shareholding was worth 12.3 million pounds ($16.5 million).
Shares at 1440 GMT were up 3.80 pence, or 11% at 39.80 pence.
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