Ramsden's return runs into trouble: Financier hurt by investors' failure to
deliver promised 10m: GUARDIAN

BYLINE: Neil Hume

BODY:
The City comeback of Terry Ramsden, the financier who was once one of
Britain's wealthiest men, looked to have hit difficulties yesterday as the
share prices of three Aim-listed companies in which he holds or plans to
take significant equity stakes all fell sharply.

Hansard Group, a City PR firm run by former stockbroker Adam Reynolds, fell
13.5p, or 32%, to 28p; Caplay, a cash shell, shed 4.87p to end at 5p;
TradingSports Exchange Systems, another shell company, dropped 6p to 15p.

The falls followed news released by Hansard after the market closed on
Tuesday night that three investors in a 10.65m share placing had failed to
come forward with the money they had pledged.

The fundraising will see Mr Ramsden emerge with a 10% holding in Hansard and
the proceeds will be used to acquire Holborn, a rival financial PR firm, and
Griffin Leisure, a property company owned by Mr Ramsden.

Griffin recently acquired 215 acres near the luxury Sandy Lane resort in
Barbados. Mr Ramsden is said to have snatched the site from under the noses
of Sandy Lane's owners - the Irish billionaires JP McManus and John Magnier
- and plans to build time-share apartments on the site.

It is not known who the three investors are or why they failed to deliver.
However, sources close to the deal stressed that Mr Ramsden was not one of
the three and there was no problem with the Barbados deal.

Hansard, which is changing its name to the Financial Development
Corporation, is expected to update the market on the progress of the placing
this morning and is likely to announce that it taking legal action against
the investors who failed to pay.

The son of a factory cleaner, Mr Ramsden shot to fame in the 1980s when he
made 150m in the Japanese warrants market.

At one point he was Britain's 57th richest man and used his fortune to
support a lavish lifestyle. He owned up to 100 thoroughbreds and thought
nothing of placing 1m bets. He also owned Walsall football club and had a
30% stake in Chelsea FC.

That all turned sour after the Japanese stock market crashed in 1987. A year
later his securities company, Glen International, collapsed with debts of
140m and Mr Ramsden was declared bankrupt.

In November 1993 he was charged with fraud for his trading activities at
Glen but escaped jail with a two-year suspended sentence. Five years later
Mr Rasmden was behind bars after being found guilty of hiding 300,000 from
his creditors.

Mr Ramsden made his City comeback in the summer when he announced plans to
take an 11% stake in Caplay, then called Leisureplay. He has increased his
holding to 14% and Caplay made a 500,000 investment in the private treaty
market, a system Mr Ramsden claims will revolutionise securities trading.

His plans for TradingSports Exchange Systems are not yet known but are
thought to include an internet betting site. A 4.5m fundraising led by Mr
Ramsden is due to close next week.

better news this morning

Daily Mail Newspaper :

Shares in Financial Development - the renamed Hansard Group - found good support, closing 4p higher at 32, after the company revealed it received subscription monies from investor Terry Ramsden with regard to its recently-announced 10.65m placing.

There were fears that Ramsden was one of the three investors which have dropped out of the placing.

Meanwhile shares in TradingSports Exchange Systems - another company in which Terry Ramsden is involved - got a boost from the Financial Development news, closing up 2 1/2p to 17 1/2p.