http://www.lemminginvestor.com Brief Updates 8 December 2005
Stanelco weakened 1.25p to 16.25p, (5.25p*)on the announcement the company was rewarding a former employee under the Enterprise Management Incentives Share option scheme 1,149,999 ordinary shares. The shares are at a significant discount to the current SP. Although exercise price of 2.25p for 444,444 ordinary shares and 3.875p for 705,555, the 7.25% drop in the SP is a little over cooked when you consider the total allocation in the grand scheme of things, is just 0.12% of the issued capital. The obvious concern for investors is the fear these shares will overhang the market once they have been listed.
Gaming VC continued on its road to recovery today following yesterdays upbeat trading statement. In truth, the company woes have been short term, since we knew it would take time for the new marketing team to set their strategy in motion. Indeed, we stated in our June update GVC needs time to get its house in order, time must be given to a new team at the helm after the successful buy-out from American led consortium headed by former IBM/Lotus manager Steve Barlow. In that time the company have took steps to bolster its marketing team. Goran Karlsson as Conceptual Business Development Manager and Jeanette Strom as Business Development Manager. The early signs are now looking good.
The business is strong enough to hold its own. However, in a consolidating sector, it could become a target.
New Registrations in the month of November were 3,645 compared to 3,272 in October, an 11.3% increase. 1,783 new depositing customers were recorded in the month compared to 1,439 in October, a 23.9% increase. Daily revenue in the month has increased month on month by 9.9% to 110.7k confirming the trend experienced in October, further underlining the effectiveness of the strategic marketing programme.
Following solid results in October and November the Directors confirm it is their intention to pay a full second half dividend of 21p making 42p for the year.
Commenting on the performance for November, Steve Barlow, Chief Executive said, 'With new registrations continuing to strengthen and the stronger revenue performance in October and November, we are confident that our strategic marketing programme will deliver our target month on month revenue growth of 2%, thereby consolidating our position in 2006. We can confirm that the dividend
will be 42p for the year delivering on our promise at the IPO. Given the likely outlook for 2006 it is the Board's intention to maintain this level of payout.'
The shares closed 18.5p firmer at 380p. (691p*)
Equator Exploration gained 6p to close at 233.5p, (156p*) after said raising 34.6m in a private 17.2m share placement with institutional investors. Proceeds from the placing, which is priced at 200p, will fund the company's drilling program in 2006 and may go towards the possible acquisition of additional exploration acreage.
(*) indicates the share price at the time of our inaugural report
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