Morrissey is back with a new album at no 1 in the album charts out on Sanctuary Records (SGP). This is a big deal for a pretty small company. Added to this the first half results out today should show improvements in first half sales - their niche strategy is working. Expectations of an upbeat trading statement with double digit growth bucking the trend in the music industry. Share should tick up today.

Down and down and down they go, I think thats one of theirs

Underwriting Announcement

1. Introduction

Your Board can today confirm that it proposes to raise approximately #110.0
million (gross) by way of a Placing and Open Offer of, in aggregate, 219,931,148
new Ordinary Shares at 50 pence per new Ordinary Share conditional, inter alia,
upon the passing by Shareholders of the Resolutions at the EGM referred to
further below, the publication of a Prospectus by 14 February 2006 and Admission
occurring by 13 March 2006. The Issue Price on a pre-consolidated basis is 0.25
pence which values the Existing Ordinary Shares at approximately #927,000. The
equity fundraising will result in substantial dilution to existing Shareholders
with the Existing Ordinary Shares accounting for less than 1 per cent. of the
Enlarged Share Capital. The Placing and Open Offer comprises 180,000,000 Placing
Shares to be conditionally placed with institutional investors and 39,931,148
Open Offer Shares to be conditionally placed with institutional investors
subject to clawback to satisfy valid applications by Qualifying Shareholders.
The Placing Shares are not available for subscription under the Open Offer.
Qualifying Shareholders and the holder of the BMG Warrants will be given the
opportunity to participate in the fundraising by way of the Open Offer, which,
following the publication of a Prospectus, will be made by Evolution Securities
on the Company's behalf. Under the Open Offer, new Ordinary Shares will be
offered to Qualifying Shareholders on the basis of:


8 Open Offer Shares for every 75 Existing Ordinary Shares or BMG Warrants held
at the Record Date


and so in proportion to any number of Existing Ordinary Shares or BMG Warrants
then held.

The Issue Price, which is stated on a post-consolidated basis, represents an
effective discount of 66.67 per cent. to the prevailing Closing Price of 0.75
pence per Existing Ordinary Share on 2 February 2006, being the latest
practicable date prior to the publication of this announcement. The Directors
were advised by Evolution Securities that an equity fundraising could only be
carried out successfully if priced at a significant discount to the prevailing
Closing Price of an Existing Ordinary Share. The Directors therefore propose to
seek specific approval of the Issue Price and the above-mentioned discount from
Shareholders at an EGM, in accordance with the Listing Rules. Since the Company is not permitted under English company law to issue shares for less than their nominal value (which for the Company is currently 12.5p), and to avoid having a very large number of shares in issue which would be quoted at a very low price, the Board has decided that it should undertake the Sub-division and
Consolidation in order to be able to effect the Placing and Open Offer at a
price of 50 pence per New Ordinary Share.

I think I have missed the boat here 176% up at 1300hrs

still going up now nearly reaching 2p

Well it reached 203% looks like down from here.

It's going to make 5 pence next resistance if a positive start tomorrow.

+40% so far today and climbing. 5p is the target.

1000000 buy@2.75

clears 3 and this will rocket on short covering

anyone think its a good time to buy now or wait for further drop in sp? dont think company likely to go bust so surely the only way is up.[i am not after advice merely other peoples opinions]

anyone think its a good time to buy now or wait for further drop in sp? dont think company likely to go bust so surely the only way is up.[i am not after advice merely other peoples opinions]

the company has effectively in last chance saloon...has raised some cash but if looses remain in the next 9-12 months they will be out of business....buying a share because you think it cannot go down any further is daft...look at the fundamentals of this comany they are terrible........do not listen to some of the jokers on this board here they were tipping it at 50p.

will give it a miss then, cheap buys for someone else maybe but too risky for a bit player like me

i've been in situation like this before and have always made some profit. it can't go any lower, its time to BUY ! even a small increase would make profit. I'm buying 4000000 @ 0.47p

i only play with small amounts at the moment so 500 wouldnt be worth it after fees + stamp. [my portfolio is only just worth 2000 with 4 companies, took some big hits a while ago and still recovering[lost 6000] they say only play with what you can afford to lose so with wife and 3 kids i have to stick to peanuts and hope for something spectacular

I am seriously thinking of giving this a shot @0.47. The re-sale of shares is happening in March, so its got a chance of going up before that.

yip edd....great invetsment strategy...it cannot go any lower.....yes it could it will probably go bust...so yes it can go 100% lower

robalex, I would think nobody in their R.Mind would punt on this share. The TA is poor and the future PEGs are poor. If you have only 2000 to play with and don't have any immediate calls on it, the more sensible thing to do would be to find two share in the Midcap range which have established and sustained upward SP Trends of reasonable rate. Split your capital, place relatively close trailing stop losses (to cut your losses, you have had enough already) and ride the uptrend taking moderate SP growth over a period until you get your original stake back. Changing the shares when the trend reverses and moving on. You are more likely to profit than reading some of the BS written on BBs.

IMHO Good Luck.

great more money!!!, sold my 4000000 @47p for 60p. Profit of 5,200
you have to risk it to make it

HI EDDMCM WHAT ABOUT YOUR COST??????5200 IS NOT ALL PROPIT?????

edd....cannot see your trade today or from yesterday actually....if you are going to lie about it please try and be realisitic......or if you point out the time of the trades..I will post them up here...if not please do shut up old boy....anyone else is welcome to have a look at the LSE tarde data which tells no lies