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".

Dear All ,
Copy of e mail sent to PXC website. Sent out of frustration. I am sure i missed a lot of good technical points but I wanted to get over the frustration which i believe we are feeling, although I obviously spoke for myself.

Dear Sir/Madam
Their have been numerous positive comments about PXC over the last two months but the share price continues its downward spiral.Today it reached new depths with a large number of sells(21 million) and the shares now available to buy at 6.9pence! What is most amazing is your silence. Whats happenning to make the price drop from 12p to 7p! A supposedly successful acquisitive, well managed company?Should you not be making at least some reassuring comments to your loyal investors? If you read any of the investor threads you will know there are a band of investors who believe in the management of PXC and its products.When the world appears to be collapsing around our ears and our investment going down the toilet it would be good to see some concern and reaction from the PXC management.Perhaps even some communication would be appreciated!

William Fagg

Hi Will, good letter thanks for taking the time to action this.

I honestly think theres a big seller out there just getting rid of stock and taking a profit. Please remember there werent that many transactions today and three of them were,

11,250,000
4,000,000
2,000,000

all at 6.5p.

Now when Dubens started buying telephone infrastructure up under Gxn he placed shares to raise funds, heres the RNS.....................

GX Networks plc (the 'Company')

Placing

The Company announces that 236,667,000 New Ordinary Shares ('New Shares') of 1p
each have been conditionally placed with institutional investors (subject to
admission of the New Shares becoming effective on or before 31 March 2003 or
such later date as the Company and Collins Stewart may agree being no later than
7 April 2003) at a price of 2.125p per share to raise 5.03 million (before
expenses) for the Company.ENDS.

So in fact if an instiution hadnt already sold they are still onto a cracking profit even at 6.5p.

I might be totaly wrong but I cant think it can be anything else.

cheers GF.

Willfag

Good email but but don't hold you breath re a reply. I think your right I'm not so sure the management is so hot and indifference towards share holders does border on the arrogant. As soon as I get my money back I'm out much better returns else where. SEY BISI

MS

Much appreciate your responses and opinions.

Wiifagg,

I have sent two emails to PXC ref the SP. The first took about 2 week to be answered, the second has never been answered. So don't hold your breath! The content of the first was essentially along the lines of, 'we cannot control our SP but are making every effort to ensure the City is aware of PXC potential.'

Regards

PTH

mickeyskint - I agree there does seems a touch of arrogance with PXC - Peter Dubens would not have becme Entrepreneur of the Year without perhaps it being part of his success - IMHO this is a stock to hold, pray, get annoyed with, very nearly lose patience with, but anticipate Turkey for Christmas.

Oakapples142

Well said. This one is almost as frustrating as a woman.

MS

Oh come on now you are not only being arrogant but accurate - woman are perhaps better to hold on to

And Pipex is the only one to go down on me

Troys

Great gag I nearly wet myself when I read it.

MS

this thread is becoming a larf.I must be really lucky then I have bought into PXC twice and its gone down on me both times!!

I must be sad anyway, when I complained about the share price dropping again just after I bought yesterday..............I went and topped up with some more. hero or Pillock? Only time will tell

More big sells today

Up she goes more buy transactions than sell transactions.

Looks to be just one big seller.

cheers GF.

I'm blowing hot and cold with this. It's got everything going for it yet just does'nt perform. That's what the wife says about me.

MS

I've made up my mind. 8p and I'm out.

MS

I'm in for the longer term. Hope i am right !!

Up 7.5% staging a recovery

Why sell, the storys still the same nothing as changed. Dubens bought 150 million pounds worth of telecolm infrastructure for a song, we are cash positive and making a profit. Seems to me we just have one seller taking a profit.(we have had no RNS to say otherwise, and if there is any sensitive news that would affect the price, the Management have to notify please see rule below)

Sentiment should change back positive when the seller is cleared out.


Rule 9.2 of the Listing Rules in force on 4 July 2001 states that:
A company must notify the Company Announcements Office without delay of all relevant information which is not public knowledge concerning a change:
(a) in the companys financial condition;
(b) in the performance of its business; or
(c) in the companys expectation as to its performance;
which, if made public, would be likely to lead to substantial movement in the price of its listed securities.
The continuing obligations of a listed company set out in the Listing Rules are designed to promote full disclosure to the market of all relevant information on a timely basis. The FSA regards the continuing obligation requirements of Chapter 9 of the Listing Rules as a fundamental protection for shareholders. Observance of those continuing obligations is essential to the maintenance of an orderly market in securities and of confidence in the financial system. The FSA therefore takes the most serious view of listed companies which fail to comply with these requirements.
Ends.



cheers GF.

Nice one GF.

MS