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".

Wow ! ... what next ?

Hope you are still holding skyhigh

Yep, you bet... still holding !

Nice one. LOL

Is there an offer coming at last that someone, somewhere is aware of?

Wow look at those last few buys - massive - whats the news?

Been following this company for ages and decided to buy in on Monday, just a modest holding at 13.80p, Fantastic rise since then, they have excellent position in competitive market, and in my eyes look ripe for takeout, although I think there may be a bit of that in the current price.

Perhaps someone has seen a preview of the results.

Read a notice on Topic this afternoon, that one of the major players had increased their holding to 18%+. Was in a hurry so couldn't quite digest it all, but I would view this as a good sign, if the major players are adding - could be the reason for yesterday's rise.

Not surprised to see the price come off today after yesterday's performance and am actually quite pleased that it was only 1p.

Don't let this one slip you by. Keep it on radar, looking good for some seriously good news.

Times Online March 17, 2006


What does Pipex have in the pipeline?
By Kieren McCarthy



Pipex, the UK-based internet firm, has been the source of constant speculation about a possible takeover move this week. But its vote at the controversial extraordinary meeting of the UK internet domain directory yesterday has created further rumour.

Shares in the AIM-listed Pipex jumped by 15 per cent on Tuesday on the rumour that a takeover was underway and a major shareholder had been bought out. The next day they fell 6.25 per cent during massive trading for the company. They jumped up again yesterday when it was revealed 30 million shares, equating to 1.3 per cent of the company, had indeed been sold.

Chairman Peter Dubens told Times Online that he could not comment on any share movements or rumours, but he did concede that it looked as if a large shareholder had sold up.

With Pipex's annual results due to be announced on April 3, and with more analysts than ever probing the recesses of the internet market, the company has been under particular scrutiny by City analysts and investors.

What makes the situation more peculiar is that the same thing happened a month ago when rumours that BT was planning a 350 million takeover of Pipex saw its share price jump 5 per cent. BT played down the speculation but it led to a positive re-evaluation of the company by analysts.

Pipex has out-performed the market, but it is its trial of the next-generation WiMax broadband wireless technology that has got investors most excited. Mr Dubens is keen to point out though that it does not have a WiMax "licence", as has been reported, but merely significant rights over the spectrum that may end up being used for WiMax.

But what has really stumped observers is Pipex's behaviour this week towards the company that runs the UK internet registry, Nominet.

Pipex has three main arms of its business: broadband net access; networking services; and selling and hosting internet domains, the latter accounting for 33 per cent of the company's profits.

Nominet is the company in charge of all domains ending in ".uk" and Pipex is, in effect, Nominet's largest shareholder as it runs the largest number of .uk domains. With 1,043 votes, it has just over 10 per cent of all available Nominet votes.

At an extraordinary general meeting yesterday, Nominet's board asked members to consider three resolutions that would provide it with greater flexibility and allow it to bid for commercial contracts in future.

One of the measures it was hoping to overturn was the requirement for a 90 per cent approval from members before it made certain changes, including price rises.

The board also requested a change in the weighted voting system that would cap any individual's voting rights at 10 per cent.

Nominet chairman Bob Gilbert revealed at the start of the meeting that all the resolutions had already fallen thanks to the decision by two of Nominet's three biggest members, including Pipex, to vote against the measure by post and effectively veto the proposals.

Gilbert confessed after the meeting that he still had no idea why the two companies had voted against the resolutions. One, Fasthosts, refused to disclose why, saying only that it had "No comment". The other was Pipex.

Speculation is rife over why Pipex changed its tune at the last minute and why it stills refuses to explain, even to Nominet, its reasons for doing so. One theory is that Pipex and Fasthosts are looking at a merger. Another that the company planning to takeover Pipex wants the company to retain its influence in the .uk registry.

Either way, it has alerted the UK internet community to the reality that Pipex has an effective veto over any Nominet actions. There is already talk about devising a new system to restrict Pipex's influence, but even that may prove difficult thanks to a spectactularly low turnout for the EGM. Just 11 per cent of members voted, meaning that large members' votes carry disproportionate weight. Pipex could potentially block any motion that restricted its stranglehold on the company.

With Pipex having demonstrated willingness to use its veto, there are now many thousands of Internet companies joining analysts in trying to understand what the company is planning. So far, it has refused to say.

http://business.timesonline.co.uk/article/0,,9075-2090895,00.html

Very interesting article Troys. After all the watching & waiting we've done over the years it's good to see the sp surging and PXC becoming the centre of attention!

Very interesting times ahead queen1

1-0 to Fulham.

A splendid result in lots of ways :-)

Brokers forecast suggest that the results due out 3/4 will show a profit in the region of 7.3 mill versus a 5 mill loss last year.
with the ongoing rumours of a takeover, this share is looking a very good bet at the moment.

brianrog, that should push the sp up again which will be very pleasant.

Rise today of a couple of pence, 10% - which is nice

Yep... still looking good... I'm now showing 100% profit having gone in small time over a yr ago, wish I'd bought more and all that...However, will continue to hold..more still to come (imho)