Two funds run by SF T1ps Investment Management have taken a combined stake of 21.1% in AIM-quoted cash shell Directex Realisations and one of the funds is focused on gold suggesting that there may be plans to switch the company into a gold-related business.

SF T1ps Smaller Companies Gold Fund has bought 10.94% of Directex and SF T1ps Smaller Companies Growth Fund has taken a 10.16% stake. It is unlikely that a gold fund would buy a stake in a company which will not become involved in mining and/or selling gold.

Directex used to be known as Interactive Prospect Targeting, when it was invovled in email marketing.

Last week, Directex director Jonathan Lander sold 6m shares at 3.8p a share and Lionel Thain sold 1.86m shares and 5.79m voting rights. The combined stakes accounted for 23.4% of the votes.

The Directex share price has more than doubled over the past week.

Directex's net assets were £1.4m (2.77p a share) at the end of June 2010. They included £992,000 of cash. Directex also owns 12.2% of profitable marketing services provider Web-clubs but that has not been given a value. Directex has sold its Wembley Stadium debenture.

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Directex Realisations (DXR) share price