Netcall PLC (NET), the UK-based customer engagement and intelligent automation software provider, has received formal notification that Liontrust Investment Partners LLP reduced its voting rights holding in the company below the 5% disclosure threshold. The transaction was recorded on 9 November 2026, with Netcall notified the following day. The move marks a meaningful reduction from Liontrust's previously reported position and triggers a mandatory regulatory disclosure under the Financial Conduct Authority's Disclosure and Transparency Rules.

Key Points

  • Netcall PLC (NET), ISIN GB0000060532, is a UK-listed intelligent automation and customer engagement software company.
  • Liontrust Investment Partners LLP, a subsidiary of Liontrust Asset Management Plc, disposed of a portion of its Netcall voting rights, triggering a threshold crossing notification.
  • The resulting holding stands at 4.5645% (7,786,796 voting rights), down from a previously notified position of 5.455%.
  • Investors should watch whether Liontrust's position continues to decline and whether other institutional shareholders adjust their holdings in response.

Liontrust's Netcall Voting Rights Fall from 5.455% to 4.5645% After November Disposal

According to the TR-1 standard notification form filed on 10 November 2026, Liontrust Investment Partners LLP now holds 7,786,796 voting rights in Netcall PLC, representing 4.5645% of total voting rights. This compares with a previously notified position of 5.455%, meaning the disposal reduced Liontrust's economic and voting exposure by approximately 0.89 percentage points. All rights are held directly, with no voting rights recorded through financial instruments. The notification was completed in London and submitted to Netcall the day after the threshold crossing date of 9 November 2026.

Liontrust Asset Management Plc Named as Ultimate Controlling Entity Behind the Holding

The TR-1 disclosure identifies Liontrust Asset Management Plc as the ultimate controlling person in the chain of ownership, with Liontrust Investment Partners LLP as the controlled undertaking through which the voting rights in Netcall are effectively held. The combined total of both direct and indirect voting rights remains 4.5645%, with no financial instruments such as options or contracts for difference forming part of the notified position. This structure is consistent with standard fund management arrangements, where the investment manager holds shares on behalf of underlying clients rather than on a proprietary basis.

DTR Threshold Crossing Triggers Mandatory Disclosure Under UK Transparency Rules

Under the FCA's Disclosure and Transparency Rules, any investor crossing a 5% voting rights threshold — in either direction — in a UK-listed issuer must notify the company promptly. Liontrust's disposal, which pushed its stake below that level, therefore required this formal regulatory filing. Netcall PLC, which provides cloud-based contact centre, low-code automation, and AI-powered customer engagement solutions to organisations primarily across the United Kingdom, is subject to these rules as a UK issuer. Investors may be watching whether further disposals bring Liontrust's stake towards the next reporting threshold of 3%.