marketboy - the EPIC is TAR not TAV, not that it makes any difference because no trades yet.
They have been picking up a whole bunch of notifiable amounts in small caps, particularly recruiters. See
Here's what the Times said before Christmas:
"Third Advance Value Realisation Trust, the investment vehicle run by Progressive Value Management’s Robert Legget that raised £72.4 million last month, continued to stir interest by emerging with stakes in a clutch of small caps. .................concentration in the recruitment sector prompted talk that Mr Legget, not one to sit back, may take on the mantle of pushing for consolidation".
TAR has also a 20.6% interest in IT consultant/recruiter MSB. There would be quite an overlap in customer base with QA. Interesting.