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".

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 ?

Mmmmm stuck again...

Can anybody explain the maths of this to me please, if we take MDW as a example, same share price, 300,000 shares have moved today and the price has gone up 30%, Pipex has 5,000,000 shares moving about and know movement???

Why have the MM's not up'd the price, would they not earn more as they get a % of each trade, and therefore uping the price would earn them more??? Have I missed the point there????

Can anybody give me a clue to what "really" makes the price move, ie what makes the MM's move a price up or down!!

Ta

Simon

Simon,

Isn't it because a large investor is happily offloading their shares to keep the price down, whereas with MDW it could be no one wants to offload their shares and so the MMs up the price to encourage selling?

NJ

mdw had some news come through at 1300

I suppose you have to ask why a large investor is happy to offload shares when the share price could double in the nexct couple weeks ? why keep the price down ? I don't understand what's going on and why ?

So are we saying then that the daily buy / sell numbers are wrong, ie buy are not outnumbering sells???

another big trade just gone through 2500000 @ 8p must be a sell ...

The last time this happened, SWIP eventually announced a 3% holding. I think you can make one of two assumptions about todays volume.

1. This is possibly the last day that the trades which resulted in the SWIP holding can be reported. (Broadly, from Dailos, delays are permitted up to 5 business days following a transaction greater than a certain muliple of the NMS, (100,000 for PXC).

2. A further institutional placement may be underway at a determined price level and the MMs will hold the price until that placing is complete. Not sure if this last statement is utter tosh!!

If it is the first, these large trades will probably stop appearing from Monday next week. If it is the second, we have a further Institutional Placing, which when complete will hopefully allow the SP to rise in line with all expectations.

Just my view, I contnue to hold, the SP will rise in the not too distant future. Don't read too much into the prices quoted alongside these trades, afterall it is only software having an educated guess and when they are possibly five days old, what relevance do they have?

Regards

PTH

nice 6,000,000 buy !!

I agree....... but i am getting fed up with them getting them on the cheap!Maybe the share price can move on now!!!

no sells gone through tonight yet....perhaps we might se this share head north tomorrow