New Media Sparks Assets valuation is at 23Million quid...but that is only a conservative view the company states...broken or sold off they are worth a lot more...

After doing my own research on New Media Spark, and waiting for todays Brief...my personal opinion is this a NEWMEDSPK has a pretty optimistic future to be realised,

At under 10p they are a steal and one expect them to rise from here onwards...I did say they have a balance sheet of 51 MILLION cash in Bank to burn...(read para below...) I mean how many small companies can boast this?

Expect aquisitions this year I'd say...

DYOR...

jules



NewMedia SPARK narrows losses
AFX
Full year losses very sharply narrowed and it is cautiously optimistic about oulook


NewMedia SPARK PLC narrowed its pretax loss in the year to March 31 2003 to 9.09 mln stg from 105 mln a year earlier and said it is cautiously optimistic about the future. Its shares rose 8.5% to 9.5p.

Sales for the year were 1.295 mln stg, down from 3.01 mln.

The net asset value per share at the end of the year was 12.4 pence, which compared with 13 pence a year earlier.

Consolidated cash balances have risen to 52.0 mln stg from 41.8 mln a year earlier, thanks mainly to the successful sale of Tullets.

SPARK's investment portfolio had a book valuation of 23.8 mln stg at March 31. The board said it believes this is a conservative valuation and that, over time, the portfolio has the potential to generate a substantial return to shareholders from current levels.

The board said it would caution, however, that the timing of any increases in book valuation cannot be predicted with certainty. It said valuation would occur if the company were to sell any of its investments. With this in mind, the board said it is 'open to the possibility' of flotations and is keeping a close eye on the state of the new issue market.

The group also said share buy backs remain a strategic aim but are not yet possible due to the current need firstly, to provide in full for the remaining period of the lease costs and secondly, to repatriate cash to London from Spuetz.

'SPARK has a strong balance sheet with a sizeable and maturing investment portfolio and in an improving technology market, we are cautiously optimistic.'

The group's investment portfolio is now maturing, and therefore requires less central overhead to manage it. Similarly, the decline in new investment activity has also reduced the overall workload.

In consequence, the group has since the March 31 financial year-end embarked on a
further round of central overhead reduction. This will result in UK executive staff being reduced to seven people, plus three in Germany. When fully implemented this latest reduction in headcount will result in the SPARK group's operating costs, excluding property costs, falling to less than 1.5 mln stg per annum.

The group said that, as part of this significant re-organisation Bruno Delacave, finance director, and Susanna Freeman, company secretary, will be leaving the group, two other executives will be part-time, the management of the property and IT services has been outsourced and so SPARK's property management and IT staff are leaving.

The company also updated on the 'major problem' in its lease at Glasshouse Street in Soho. It said it has now signed an agreement with Corpnex to turn the space into a serviced office business. Under this agreement SPARK will remain liable for the rental cost of the property, but it said it believes that this solution gives it the potential to recoup a substantial proportion of rental payments over time and is preferable to immediately surrendering the lease at substantial penalty.

So has everyone just got fed up waiting for this one to do things, so the price is dropping...........

The last bit of news on Aug 19 was:

LONDON (AFX) - NewMedia SPARK PLC said its German subsidiary Spuetz AG could pay a dividend of over 20 mln eur once its results for the fiscal year 2003 are finalised after it amended its annual financial statements for the fiscal year 2002 to eliminate carried forward losses against capital reserves.
Spark has a 70 pct holding in Spuetz, and it said it would of course support the payment of such a dividend should Spuetz resolve to do so in due course.

Since then very quiet...........

Anyone got any thoughts, insights etc. etc. etc.

JULES99 is still holding LW..

any news on the pricrunner float ? they suggested first qtr have they
appointed anyone yet ?