Iomart stock falls as key shareholder cuts stake

Oct 4 (Reuters) - Web hosting company Iomart Plc said a key shareholder cut its stake by 31 percent, sending its shares down 7 percent.

Henderson Global Investors reduced its stake in Iomart to about 4.8 million shares from 7 million shares earlier this week, the company said in a statement on Thursday.

Iomart shares, which rose to a life-high of 210 pence earlier on Thursday, dipped after the statement was issued.

They were down at 197.32 pence at 1420 GMT on the London Stock Exchange.

Iomart owns or leases space on a server for use by its enterprise and SME customers.

(Reporting by Monika Shinghal in Bangalore; Editing by Don Sebastian)

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