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".

What will large dumping indicate ? Good or bad ?

Sky, Bad I should think.
Can't see it myself though, all the recent news has been good and the trading update indicates the company are on track. An awful lot of shares have changed hands in the last month, much more than the normal average, so I suspect something is going on and have sent Pipex an email asking if they have an opinion. I don't expect much of an insight though.

Regards

PTH

Still waiting for the big sells !!

Pipex Communications PLC
31 August 2004

SCHEDULE 10



NOTIFICATION OF MAJOR INTERESTS IN SHARES




1. Name of company

Pipex Communications plc

2. Name of shareholder having a major interest

Scottish Widows Investment Partnership

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 above

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

State Street Nominees a/c XBY2 8,353,062

State Street Nominees a/c W32L 3,317,894

State Street Nominees a/c W33H 9,279,484

State Street Nominees a/c XBJ2 10,674,199

State Street Nominees a/c XBY4 3,741,976

State Street Nominees a/c W39H 2,264,023

State Street Nominees a/c XBK6 5,679,883

State Street Nominees a/c W39H 27,000,000



5. Number of shares/amount of stock acquired

Not disclosed

6. Percentage of issued class

Not disclosed

7. Number of shares/amount of stock disposed

Not disclosed

8. Percentage of issued class

Not disclosed

9. Class of security

Ordinary 1p shares

10. Date of transaction

Not disclosed

11. Date company informed

27 August 2004

12. Total holding following this notification

70,310,521

13. Total percentage holding of issued class following this notification

3.222%

14. Any additional information
Scottish Widows Investment Partnership Limited has an overall interest in 89,530,645 of which 70,310,521
is a material interest.


15. Name of contact and telephone number for queries

Stewart Porter 020 8957 1317

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

Stewart Porter, Finance Director

Date of notification: 31 August 2004

Have just been having a look at Scottish Widows Investment Partnership web site. The holding of Pipex shares would presumably fall into either their Smaller Companies Value Trust PLC or UK Select trust Ltd. It appears in neither and at 3.222% would be in either of the Top Ten Holdings for these two trusts. So although Aquired or Disposed is not disclosed, my guess, (hope) is that the recent volumes have been due to SWIP building a position. Good news for Pipex holders, I guess.

The URL for SWIP is:http://www.swipartnership.com/discretionary_investors/investment_companies.htm

Have a look and see if you agree.

Regards

PTH

And here come the sells, on cue, becoming a little repetitive!!

PTH

Why did i know that would happen ?

Well, what a surpise ! PXC gets tipped for great things all over place and this happens. Will it have an impact? who knows !
Just have to sit tight and hope for the best. I still reckon there is very little downside and should perk up a bit in the run up, during or just after the interims..(imho).

is it just coincidence but we have c.2.4m shares bought by retail investors today @ 8.17p-8.25p, and to balance this out :-

..................one retail sale of 200,000 @ 8p

..................and a friendly institution keeping the MMs supplied with shares @ 7.75p, 2,000,000 to be exact!

Just before the close I was quoted 8.05p to sell 250,000 so the MMs weren't exactly awash with shares, even with the 2m protected sells in the bag...

looks like someone wants to keep a lid on the PXC share price until the results come out????

all very interesting IMHO

Skyhigh

I wouldn't worry about it too much, larger sells went through last week, (7.5 million for one) and only served to push the price up, (oddly enough). At least we now know what probably going on, (SWIP holding).

PTH

NOTIFICATION OF MAJOR INTERESTS IN SHARES




1. Name of company

Pipex Communications plc

2. Name of shareholder having a major interest

Scottish Widows Investment Partnership

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 above

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

State Street Nominees a/c XBY2 8,353,062

State Street Nominees a/c W32L 3,317,894

State Street Nominees a/c W33H 9,279,484

State Street Nominees a/c XBJ2 10,674,199

State Street Nominees a/c XBY4 3,741,976

State Street Nominees a/c W39H 2,264,023

State Street Nominees a/c XBK6 5,679,883

State Street Nominees a/c W39H 27,000,000



5. Number of shares/amount of stock acquired

Not disclosed

6. Percentage of issued class

Not disclosed

7. Number of shares/amount of stock disposed

Not disclosed

8. Percentage of issued class

Not disclosed

9. Class of security

Ordinary 1p shares

10. Date of transaction

Not disclosed

11. Date company informed

27 August 2004

12. Total holding following this notification

70,310,521

13. Total percentage holding of issued class following this notification

3.222%

14. Any additional information
Scottish Widows Investment Partnership Limited has an overall interest in 89,530,645 of which 70,310,521
is a material interest.

Still holding these from day one, shame that it hasnt performed better.

Still in my opinion its a class act so Im sticking with them.

cheers Gf.

Thats good to hear. I'm in and topping up

Might do the same Troys, why do you think its fallen of late, other than just market sentiment on small cap techs?.

cheers GF

I have no idea why the share price has drifted downward.
To me it is an opportunity to fill my small boots.
I just see a company which is aggessive in its nature and going in the right direction.Peter Dubens has a excellent eye for business opportunities and in the longer term we should reap the rewards !!

Waiting for 2,000,000 sell !!

only 1 million so far

give it time. Wish i could make money on this

might be moving opposite way today 2 big buys just gone through 2million and 1.50million both @ 8.05

How many buys are needed before the price moves up ?