Tipped by the independent 2/01/2004

........."And so to our traditional "wild card". Pipex Communications, formerly known as GX Networks, is a telecoms company created by one of the entrepreneurs behind Ukbetting, Peter Dubens. It has been assembled from six smaller players. The ambitious company is generating cash for the first time but is still not widely followed in the City. It could be an undiscovered gem".

Name of acquirer
UBS AG London Branch
Beneficial owner, if different from above

Names of any other persons acting by agreement or understanding (see SAR 5)


Company dealt in PIPEX Communications PLC
Class of voting shares (eg ordinary shares) Ordinary Shares
Date of acquisition 18th May 2005

Number of shares acquired 2,400,000

Number of rights over shares acquired #


Nature of rights over shares


Total holding of voting shares (and percentage of total voting shares in issue) 439,021,029 (20.10%)

Total holding of rights over shares (and percentage of total voting shares in issue)

Combined total holding (and percentage) of voting shares and rights over shares

Date of disclosure 18th May 2005

Contact name Joseph Evans

Telephone number 020 7567 8286

Date of acquisition 08 April 2005...

Acquisition in Pipex Communications Plc Ord 1P



(1) Class of voting shares

(eg ordinary shares)



Ordinary .
Number of shares/rights over shares acquired

5,000,000.. shares


... ..rights
If rights over shares acquired, as opposed to the shares themselves, specify nature of rights



.. .




(2) Resultant total holding of voting shares (and % of total voting shares in issue)



391,950,180 ( 17.95 %)
Resultant total holding of rights over shares (and % of total voting shares in issue)



..... ..
Total percentage

17.95%*

OK NOW... UBS AG London Branch have increased holdings to over 20%.... to me this looks very interesting!!!
Someone is out to increase their holdings majorly... someone sells 600k of shares and price still remains same... looks like mm's absorbing the share for someone?

sidtrix,

this has been the case for a while now. whoever it is, they want even more shares!!!

skids

Yeah I know... just nice to see some stability at this price even after some major selling! Just thought I'd remind people that someone is lurking behind the bushes.

1.3 million sell and bid goes up to 8.50!
Sell is now 8.18 (even higher than it was after they reported this years profit)

Is there something any knows?

It will not last. It never does

As not much info on the possible price rise, I found these articles on ADVFN, thought might be an interesting note for all to read:

-

a few lines in the guardian on saturday about rumours in the market that cable and wireless is looking for an isp to beef up its bulldog brand.plusnet has shown some interest of late/price rising/ and ubs has bought a slice of pxc maybe it is about to get interesting

-
Must admit that UBS taking a 20% stake in this company on a "beneficial" basis is very interesting. When I was in the City the traditional wisdom was that if you saw a Swiss Banker dive out of a window you should dive after him as there was bound to be a profit in it somewhere! It is unlikely that they would be holding this amount of stock as a position unless somebody was bankrolling them to do so and as article 9809 above says, MMs tend to run short positions...............its cheaper! The Bulldog story could well be credible.......something popped onto my mat yesterday from these people and it was certainly an aggressive offer. Its been a long wait but something looks to be happening.

Another 900k sells & 200k buys and guess what price ticks up...
sell:8.225

MMs are after stock.
L2 currently 4v1

Hope its cable & wireless :)

Hmmm
L2 1v4

Will be interesting to see what late trade go through after the bell, if any.

Was also thinking something would come up after the bell... however def think we can expect the same action tomo
They keep increasing sell price: 8.23, 8.31...now 8.38 (volume 4 million+, sells definately outweighing buys approx 3:1 and SP rises 8% HUH )
Have a feeling something big gonna go down soon, maybe some news on Tues?

Not Monday ... it's a bank hol....markets closed ! make it tomo or next Tues.

So it's going up because:-

A big buy order to fill?

Take-over (UBS accumulating; Cable and Wirless looking for an ISP)?

Technology stocks rallying in US?

PXC will be in the new AIM 50?

Or:

The MMs need to shift some stock, pump the price up for a few days and then drop back again.

Couldn't work out the MM activity this afternoon. Four on the bid, one on the offer and then switched around to 1v4 without any noticeable sales and then shoved the price up by another 3 or 4%. Any explanations?

Seem to have been holding these for ever and I am sure if just about any other company had had so much institutional buying and credible tips the SP would be flying. Baffles the life out of me! Let's hope this recent rise is not yet another false dawn.

PTH

Has been inexplicable for some time. LOL. Turnover of around 100 million, profit close on 6 million, massive institutional investment, good management, aquisitions and growth. Must be that naked shorting on the Berlin exchange LOL.

They can pump the price up but we will not sell cheap. Will we ????? Its far to early. LOL

Run out of steam so far this morning

MM's just f$%ing playing games now... feel like kicking the w%^$ers!!!
When is this share gonna hit 14p lol
Oh well gonna move this back to my BE PATIENT PORTFOLIO, it will come good soon :) ( MM's just want our stock, me thinks ;] )