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".

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)

Skyhigh
Not going to topup

PIPEX Communications plc

Acquisition of Homecall


Acquisition of one of UK's largest residential voice businesses

Strengthens position in broadband, voice and line rental

Takes PIPEX above 1,000,000 customers

Leverages infrastructure investments and local loop unbundling strategy


PIPEX Communications plc, the broadband, hosting and telecoms network operator,
is pleased to announce the acquisition of Caudwell Communications Limited,
trading as Homecall, for an undisclosed sum, including the assumption of bank
debt of approximately 43 million, which has now been repaid by PIPEX.


About Homecall


Homecall is one of the UK's leading providers of voice, line rental, and
broadband services. Homecall currently has over 500,000 customers of which in
excess of 350,000 take more than one service.


The last set of audited results for the year ended 31 December 2004, showed
turnover of 91.4 million and a loss before tax of 34.7 million. The losses
were principally incurred by a significant and successful customer acquisition
programme. Homecall is now trading profitably at the profit before tax level.


Financial Impact


Currently, the acquisition is anticipated to improve PIPEX's EBITDA by
approximately 2 million in 2006 and approximately 5 million in 2007. It is
not expected to have a significant impact on current capex forecasts for 2006
and 2007 and is expected to improve free cash flow after interest for 2007 by
approximately 4 million. There will be additional synergies which may provide
further upside.


Rationale for acquisition


PIPEX's stated strategy has been to develop an integrated portfolio of voice and
broadband services. The acquisition fits well with this strategy, with over
350,000 Homecall customers buying more than one service. The value of this
strategy is demonstrated by increased average revenue per customer and a
considerable improvement in customer retention. Where a customer purchases
carrier pre-select ('CPS'), wholesale line rental ('WLR') and broadband services
the average customer life-cycle is extended by 44 months beyond that of a
single-service voice subscriber.


In addition, there are a number of further benefits:


The acquisition brings with it complementary sales channels to PIPEX's
web based approach: a high street distribution presence selling through the
Phones4u retail chain of 363 outlets and a large outbound telesales team;

The acquisition should provide significant cross-selling opportunities
for Homecall's voice products and PIPEX's broadband and hosting services. As
a combined entity, the Group will now have over 29% of its broadband base
buying other services, up from 2% a year ago;

The acquisition increases the density of customers around a number of
exchanges which PIPEX is currently unbundling, and is expected to both
improve margins and enhance the payback period on the investment made in
unbundling these exchanges;

The acquisition adds significant scale, increasing the total PIPEX
customer base to over 1 million customers across broadband, CPS, WLR and
hosting.


Chairman of PIPEX, Peter Dubens, commented:


'This acquisition brings with it four very important elements: additional scale,
high street and call centre sales channels, accelerated returns on our LLU
strategy and significant cross-selling opportunities.


'In terms of scale, we will now have over 1 million customers in the UK across
broadband, voice and hosting, further consolidating our position as a major
player in the broadband market. PIPEX traditionally sells over the internet and
the acquisition brings significant call centre sales expertise and importantly
access to high-street footfall through a distribution agreement with Phones4u.
We can use these distribution channels not only to drive new business but also
cross-sell our hosting and broadband services, a model that should generate
financial benefits as well as significantly increase customer retention. As a
result, we expect the financial effects to be immediately beneficial to PIPEX's
shareholders.


'Finally, PIPEX is a growth company and there should be significant
opportunities for the management and employees of Caudwell to drive the combined
business forward. We look forward to working with them.'

-ends-

PIPEX Communications plc 020 7766 6909

Peter Dubens, Chairman


Financial Dynamics 020 7831 3113

Juliet Clarke / Edward Bridges / Hannah Sloane


Notes to Editors


Carrier Pre-Select ('CPS') is a regulated way for alternative telecom operators
to bypass incumbent operators such as BT and offer competitively priced voice
calls from fixed lines.

Wholesale Line Rental (WLR) is an Ofcom regulated product which enables BT's
competitors to offer customers a single bill for both line rental and calls. WLR
is significant to broadband service providers, as it enables them to provide a
seamless service to customers who would otherwise still get a bill from BT for
rental of the line carrying the DSL, which is seen by BT's competitors as
placing them at a substantial brand and marketing disadvantage.


This information is provided by RNS
The company news service from the London Stock Exchange

Pipex Communications PLC
23 March 2006


THIS ANNOUNCEMENT IS NOT FOR PUBLICATION OR DISTRIBUTION OR RELEASE IN THE
UNITED STATES, AUSTRALIA, CANADA OR JAPAN


23 March 2006


PIPEX Communications plc

Launch of 80 million convertible bonds due 2011 to fund acquisition of Homecall
for 40 million, and trading update


Convertible bonds

PIPEX Communications plc, ('PIPEX' or the 'Company'), the broadband, hosting and
telecoms network operator, today announces the private placement of 80 million
convertible bonds due 2011 (the 'Bonds'). In addition, Lehman Brothers
International (Europe) has been granted an option to increase the issue size by
an additional 20 million. The Bonds will be issued by Pipex Finance (Jersey)
Limited (the 'Issuer') and guaranteed by PIPEX.

The proceeds of the issue will be used for the acquisition of Homecall,
repayment of senior debt facilities and for general corporate purposes.

The Bonds are convertible into ordinary shares of the Company and will have a
coupon of 3.875% and a conversion premium of 25.8%. The Issuer will have an
option to call the Bonds after 3 years, should the price of the Company's
ordinary shares exceed 130% of the conversion price over a certain period.

It is intended that an application will be made for the Bonds to be listed on
the Professional Securities Market (PSM) of the London Stock Exchange.
Lehman Brothers International (Europe) is the Sole Bookrunner.

Trading Update

Good progress is being made across all aspects of Pipex's business. The year
has begun well and the business is trading in line with management's
expectations. A further update on current trading will be provided by Pipex in
its preliminary results announcement for the year ended 31 December 2005
scheduled for release on 3 April 2006.


Enquiries

PIPEX Communications plc 020 7766 6909
Peter Dubens, Chairman

Lehman Brothers International Europe 020 7102 1000
(Capital Markets)
Armin Heuberger
Aurelie Nordlinger

Lehman Brothers Europe Limited 020 7102 1000
(Investment Banking)
Todd Berman
Alex Thomas

Oakley Capital 0207 766 6911
David Till

Collins Stewart 020 7523 8350
Stephen Keys

Financial Dynamics 020 7831 3113
Juliet Clarke / Hannah Sloane / Edward Bridges


Stabilisation

Lehman Brothers International (Europe) may, to the extent permitted by
applicable laws and directives, over-allot and effect transactions with a view
to supporting the market price of the Bonds at a level higher than that which
might otherwise prevail but in doing so Lehman Brothers International (Europe)
shall not act as agent of the Issuer or the Company and any loss resulting from
over-allotment and stabilisation will be borne, and any profit arising from them
shall be retained, by Lehman Brothers International (Europe). Such
stabilisation, if commenced, may be discontinued at any time and shall be in any
event brought to an end after a limited period. There shall be no obligation on
Lehman Brothers International (Europe) to enter into any such transactions.

Lehman Brothers International (Europe) ('Lehman Brothers') of 25 Bank Street,
London E14 5LE, which is authorised and regulated by the Financial Services
Authority, is acting exclusively for the Issuer and the Company and no one else
in connection with the offering of the Bonds (the 'Offering') and will not be
responsible to any other person for providing the protections afforded to
clients of Lehman Brothers, or for providing advice in relation to the Offering,
the contents of this announcement or any matters referred to herein.

Any offer will be made by means of an institutional offer. The Offering and the
distribution of this announcement and other information in connection with the
Offering in certain jurisdictions may be restricted by law and persons into
whose possession any document or other information referred to herein comes
should inform themselves about and observe any such restrictions. Any failure to
comply with these restrictions may constitute a violation of the securities laws
of any such jurisdiction.

This announcement is directed at (a) persons who have professional experience in
matters relating to investments who fall within Article 19(1) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 or (b) persons to
whom it may otherwise lawfully be communicated (together 'relevant persons').
The Bonds are available only to, and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such Bonds will be available only to or
will be engaged in only with, relevant persons. Any person who is not a relevant
person should not act or rely on this announcement or any of its contents.
Persons distributing this announcement must satisfy themselves that it is lawful
to do so.

In addition, if and to the extent that this announcement is communicated in, or
any offer of the securities to which it relates is made in, any EEA member state
that has implemented Directive 2003/71/EC (together with any applicable
implementing measures in any member state, the 'Prospectus Directive'), this
announcement and the offer are only addressed to and directed at persons in that
member state who are qualified investors within the meaning of the Prospectus
Directive (or who are other persons to whom the offer may lawfully be addressed)
and must not be acted on or relied on by other persons in that member state.

This announcement does not constitute or form part of an offer to sell, or the
solicitation of an offer to subscribe for, any securities in the Issuer or the
Company to any person in the United States or in any jurisdiction to whom or in
which such offer or solicitation is unlawful. Neither this announcement nor any
copy of it may be taken, sent or transmitted into or transmitted within the
United States or any of its territories or possessions. Neither the Bonds nor
the ordinary shares issuable on conversion of the Bonds have been or will be
registered under the U.S. Securities Act of 1933, as amended (the 'Securities
Act'), or under the securities laws or with any securities regulatory authority
of any state or other jurisdiction of the United States or of any province or
territory of Australia, Canada or Japan. The Bonds are being placed and sold
only outside the United States to non-U.S. persons in off-shore transactions in
reliance on Regulation S under the Securities Act. Neither the Bonds nor the
shares issuable on conversion of the Bonds may be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons (as such
term is defined in Regulation S under the Securities Act) except in accordance
with Regulation S under the Securities Act or pursuant to another exemption from
the registration requirements of the Securities Act.

The distribution of this announcement in other jurisdictions may be restricted
by law and persons into whose possession this announcement comes should inform
themselves about, and observe, any such restrictions. The price of securities
may go up as well as down. Past performance cannot be relied upon as a guide to
future performance. Persons needing advice should contact a professional
adviser.


This information is provided by RNS
The company news service from the London Stock Exchange GVZG

126 MILLION shares traded yesterday!!!!!!!!!

Something afoot........aint seen this before

yes - was watching the trades carefully all day with heart in mouth , most of the 126 million were "sells" which really did my head in . Large blocks went through ,93 million at once during the morning - Is this a stratagy by the big boys to reduce the sp a tad and then pile back in ?

Stalker makes a move on Pipex
By Tony Glover
26 March 2006


MARKET speculation is growing that predators including BT are circling internet services provider Pipex. Shares in the company rose on the rumour that a takeover was under way and a big shareholder had been bought out. About 30m shares, 1.3% of the company, were sold.

Chairman Peter Dubens refused to comment last week on share movements or rumours but conceded it looked as if a large shareholder had sold up. Pipex is to offer 80m (E116m, $143m) of convertible bonds to finance the purchase of Caudwell Communications, which is to include the taking in of 43m of bank debt. Caudwell is an independent internet operator that trades as Homecall.

The move will do little to deter predators. Aside from Pipexs enlarged customer base, there are two things that make Pipex attractive. First, it owns significant spectrum rights for wi-max, the wide-range wireless rival to mobile networks. Second, the company is on pole position in hosting internet domains, which accounts for one-third of the profits.

It is Pipexs trial of next-generation wi-max that has got investors most excited. Dubens is keen to point out though that it does not have a wi-max licence, but does have rights over the spectrum that may be used for wi-max.

The rights could be useful for BT in its drive to establish alternative wireless networks and Pipexs customer base would come as a bonus. The companys internet hosting arm would also be a bonus for an operator such as BT.

City sources say BskyB, scared of being left behind in internet-based television broadcasting, could be in the frame for Pipex. It is also suggested Pipex could be planning a merger with another internet player, Fasthosts.

http://www.thebusinessonline.com/Stories.aspx?StoryID=89B02842-9C7A-499E-8614-FEB98BF4017E

Exciting times ahead on a number of fronts, results, WiMax update, bid speculation and possible merger activity.

From OFCOM today:
In 1992 a Wireless Telegraphy Act licence was awarded to provide Fixed Wireless Access (FWA) services. Ofcom today agreed to remove certain unnecessary restrictions to allow Pipex - the current licensee - the freedom to choose what technology to use in delivering a FWA service.

Ofcom lets Pipex place net calls on mobiles
By Tony Glover
02 April 2006


INTERNET service provider Pipex, which has a market value of 340m (E493m, $609m) and is being circled by predators thought to include BT, last week became an even more desirable acquisition.

A decision by UK regulator Ofcom allows it to use the radio spectrum already allocated it for all applications. The ruling will enable Pipex to offer free or low-cost internet voice (VoIP) calls from devices such as mobile phones, undercutting standard mobile phone operators.

According to a Pipex spokeswoman, a decision that a wireless radio spectrum already allocated to Pipex is technology and application neutral will have significant consequences. The company is almost five months into trials for a new wide radius wireless technology wi-max that will provide high-speed internet over a wide enough area to cover entire towns and city centres.

Pipex began trialling wi-max in the Midlands in November in conjunction with VoIP specialist Airspan. As well as testing wi-max networks for internet access from laptop computers, the trials also involve VoIP services that could be offered over wi-max enabled mobile phones.

http://www.thebusinessonline.com/Stories.aspx?Ofcom%20lets%20Pipex%20place%20net%20calls%20on%20mobiles&StoryID=A60B6A80-650A-4242-A3CE-694DFCE450AE&SectionID=F3B76EF0-7991-4389-B72E-D07EB5AA1CEE

Results

http://www.investegate.co.uk/Article.aspx?id=200604030701168289A

Pipex teams up with Intel
an ADVFN competitor
Pipex Communications, the UK telecoms group, has teamed up with US semiconductor giant Intel Corporation to develop a wireless broadband internet access network across Britain's largest cities.

The new venture, to be called Pipex Wireless, will use the embryonic WiMAX mobile internet access technology standard. Intel will pump some $25m into the new venture, with Pipex signing over a spectrum license that could be used to build a WiMAX network across the UK. Pipex owns one of only two such national licenses in the UK.

The group said it expects the roll-out of the new network to begin in London and Manchester in 2007, and will be available in the UK's top eight population centres by 2008. Eventually, the service will be in the UK's 50 biggest metropolitan areas.

Pipex, which recently bought John Caudwell's Homecall fixed-line business for around 40m, reported a 30% rise in 2005 turnover to 133m.

Pretax profits rose to 7.1m, up from 6.2m in 2004, which was in line with a consensus forecast provided by the company.

Turning to its prospects this year, Pipex said it had traded 'well' in the first quarter of 2006. With more of its subscribers signing up for multiple services, churn had fallen and margins had stabilised, said the company


Pipex Communications, the UK telecoms group, has teamed up with US semiconductor giant Intel Corporation to develop a wireless broadband internet access network across Britain's largest cities.

The new venture, to be called Pipex Wireless, will use the embryonic WiMAX mobile internet access technology standard. Intel will pump some $25m into the new venture, with Pipex signing over a spectrum license that could be used to build a WiMAX network across the UK. Pipex owns one of only two such national licenses in the UK.

The group said it expects the roll-out of the new network to begin in London and Manchester in 2007, and will be available in the UK's top eight population centres by 2008. Eventually, the service will be in the UK's 50 biggest metropolitan areas.

The news came as Pipex reported a 30% rise in 2005 turnover to 133m, underpinned by rocketing demand for broadband internet access. Pretax profits rose to 7.1m, up from 6.2m in 2004, which was in line with a consensus forecast provided by the company.

The group, which last month bought the Homecall fixed-line business from Phones4U owner John Caudwell for around 43m, said it had traded 'well' in the first quarter of 2006. With more of its subscribers signing up for multiple services, churn had fallen and it was 'protecting' profit margins, said Pipex.

Pipex this morning said Homecall was trading profitably, and would add around 2m to group profits, on the EBITDA line, in 2006 without significantly raising capital expenditure.

The group's customer base rose 35% to 575,000 during 2005, comprising 283,000 broadband and 290,000 website hosting subscribers. The addition of Homecall's predominantly fixed-line voice call clients pushes Pipex's customer base through the 1 million mark, it said.

The group renewed its commitment to install its own equipment in 100 BT Group local exchanges within two years, a process known as local loop unbundling.

Good stuff... lots of PXC good news this morning.. SP should continue in an upward manner!

As you say skyhigh, a lot of good stuff, which is why I'm surprised the SP hasn't done more so far this morning.

It has done nothing...why is that???

Pipex Communications PLC
03 April 2006

NOTIFICATION OF MAJOR INTERESTS IN SHARES


1. Name of company

PIPEX Communications plc

2. Name of shareholder having a major interest

UBS AG

3. Please state whether notification indicates that it is in respect of holding of the shareholder
named in 2 above or in respect of a non-beneficial interest or in the case of an individual holder
if it is a holding of that person's spouse or children under the age of 18.

As in 2 above

4. Name of the registered holder(s) and, if more than one holder, the number of shares held by each
of them

UBS AG London Branch 381,444,200
UBS Global Asset Management (Life) Limited 43,015,599
UBS Wealth Management (UK) Limited 1,239,000*

UBS AG (Switzerland) 33,481,500*



* non-material


5. Number of shares/amount of stock acquired

N/a

6. Percentage of issued class

N/a

7. Number of shares/amount of stock disposed

N/A

8. Percentage of issued class

N/A

9. Class of security

Ordinary 1p shares

10. Date of transaction

27th March 2006

11. Date company informed

29th March 2006

12. Total holding following this notification

459,180,299

13. Total percentage holding of issued class following this notification

19.82%

14. Any additional information

None

15. Name of contact and telephone number for queries

Stewart Porter 01296 300 081

16. Name and signature of authorised company official responsible for making this notification.

Stewart Porter, Finance Director



Date of notification: 3rd April 2006




This information is provided by RNS
The company news service from the London Stock Exchange

How can it be down on the day??!!

easy ! we're being stuffed !....PXC has reacted like this in the last few yrs so no great surprise! . need to continue to hold for the gains to eventually come thru!

what is going on with the shares nowadays?

probably has to do with end of tax year .....cant find any other reason.