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".

Daily Telegraph 30th Oct

Quote:

Pipex rallied 1 to 8 1/4 as traders said a large seller had been cleared out Co- Founder David Rickards, who left the group in April, is understood to have sold 80m shares at 8p each.

The Independent
Pipex Communications jumped 1p to 8.25p as Collins Stewart cleared a large seller from the market. The stock is believed to have belonged to a former director of Pipex. Analysts expect the stock to continue to make progress.

Nice to see the buyer cleared out.

cheers GF.

goldfinger hello again, it appears we have more than one common interest. a friend of mine in the communications industry has enlightened me that the way forward for Pipex is to develop the technology so could this be the start of fund raising by customer base numbers.

thinking of changing my username to 'time on me hands'

watcher

Do we think this is going to rally further next week?

Blakester. For what it is worth I believe so. There has been a cloud over PXC for quite sometime, now we know what that cloud was, and thankfully it is gone. PXC have been tipped all over the place over the last four months or so and a fair SP is quoted at 14-20p. AIMHO of course.

Regards

PTH

Thanks PT :o)

Lots of early buying from smaller punters - including me topping up.

Would anyone be kind enough to show L2 data for PIPEX please :)

I notice the mm's are playing this one cute today. If the spread was to close a little it might help confidence. They were quick to up the offer price on the back of the smaller investor this morning but aren't as confident that punters will keep hold of these. I was going to buy a sizeable block of these this morning but will now wait and watch.

NF

Just got in again, been out for six months made my money, now I hope it will be an upward trend again... Would be nice to see the 12p mark sometime in the near future.

Nitefly

Yes a big a spread 8.5% not inviting

Probably because the MMs have still got a hat full to sell.

thats not a cheerful thought for the share price!

Well, if we are talking circa 80m shares then at this rate we are going to be here or here abouts for a while at current trade volumes. Chances are we could see some slippage, unless we get more news or trades pick up.

Picking the right moment is going to be tricky. No reason not to get in later, even if it does go north. If it drops a tad then all the better for those wanting to jump aboard, I doubt there's going to be any great movement either way any time soon. AIMHO.

Good luck all

NF

Might be wrong, but it looked like those 80m shares were shifted on Friday, remember 165m traded or thereabouts.

Regards

PTH

A dull day today. Started with some promise.

What does todays RNS mean

oakapples , i think it means that UBS are very big fan of PXC and have bought a further squillion shares to take their total holding of PXC shares to megasquilions or 19% of the total share capital of the company. IMO. If i am misleading you i am sure someone will correct me

This is who they are and what they do. Who are they acting for, if anyone?

UBS Investment Bank is a leading global securities and investment banking firm, providing a full spectrum of products to institutional and corporate clients, intermediaries, governments and hedge funds worldwide.

Top-tier capabilities in investment banking, unrivalled content, global distribution power and award winning relationship-enhancing technology drive our competitive position and growth in profitability.

We meet our clients' needs through the following business areas: investment banking, equities, fixed income, rates and currencies. Headquartered in London, UBS Investment Bank employs over 15,000 people in 31 countries globally.

UBS Investment Bank's position within the UBS Group lends our business the stability and security of one of the world's most prestigious financial institutions. We take advantage of UBS's superior financial strength and investor network whenever they can create or protect value.

Against this solid background, we have built a unique organization committed to delivering exceptional levels of service with a single aim - continued client success.

Regards

PTH