Yellow Brick Road (ASX:YBR) has received a notice of initial substantial shareholder from specialist microcap investment manager, Acorn Capital, which has a 6% interest in the company.
Acorn had acquired 16,685,182 shares it owns for a total of $11,642,120.29 from 23 July 2014 to 2 September 2014.
YBR had recently completed the acquisitions of Vow Financial and Resi Mortgage Corporation, putting it well on the path towards becoming a leader in the ‘non-bank’ sector.
YBR has also reported a 27.3% increase in revenues to $31.66 million for the financial year ended 30 June 2014 while underlying EBITDA improved by 12% to a loss of $5.14 million.
