A comment on advfn mentions how they have already risen 16% today. anyone in the know, and are they worth a long shot as current price is still only 3.5p

NEWS

Someone told me that jj gallagher purchased 9,395,000 = 5.08 pc of company

The rise appears to be on the back of an RNS that JJ Gallagher now holds just over 5% of the shares. Recent result statements have been disappointing (Oct 16 announced that FY results to be below expectations). Nothing to excite me having had a quick look at the financials, best of luck if investing - the only upside can be from further announcements IMHO

Fundamentalist : I agree

Yahoo states :-

13.50 pm - last trade - was 3.38 @ 13,145,000 volume
+ 0.38/12.50 per cent

The institutions have / and are pricing in the info. rgds aj

The redevoplement of Poole site gets voted on the 09/12/2003.
If this is agreed then i presume an announcement would follow up shortly. I suspect the price increase on friday was MM's getting in early.
The company is currently valued @6.4m. The land valuation could be as high as 14m less book value of 5.25m equates to 8.75M.
The question is what would be left after paying off loans and what would the trading losses they have made be worth to another company.

I particularly like companies with large land/property assets aj

Just been announced today that fund manager has taken 4.49% stake.As they are a AA rated fund i think tomorrow i am going to jump on the bandwagon. Any other people here currently holding as i can't see this fund buying if they don't see a good upside.