Any opinions on Screen.

Spread has narrowed - so I took the plunge @7.5p

V.Speculative! Probably end in tears...

This is the Hemscott opinion.

Share of the week
An excellent example of a share which is priced at little more than option money is Screen, a leader in high-tech security systems with a long list of blue-chip customers in government, the emergency services and the private sector.

Screen has had an appalling year, losing all its board after warning that aggressive accounting had made a mockery of its accounts. Thats all in the past now and a new management team is picking up the pieces. The good news is that, while things were worse than new chief executive Adrian Merryman expected, the potential is also better than he forecast.

Screen focuses on high-growth niches in "homeland security", defence and systems for the emergency services. It has great products and once it starts to run itself in a more professional manner, which it appears to be doing, the outlook is bright.

Today it was announced that founder and former chairman Owen Williams sold his 15% stake and all five of the current board bought in. The price rose 5% on the announcement to 7.12p.

Screens shares fell from a high of 313p to a suspension price of 22p after a profit warning last autumn. Back from suspension, they have fallen again to as low as 5.5p as early bid hopes evaporated. With earnings of more than 2p expected in 2004, Screen is worth a punt even if the spread, 6.75p to 7.5p is punitive.

My favorite company in this sector is Photo Scan (PTO).
They are profitable, with a good yield.

I note a clutch of director buys on the 16th ...... usually a good sign

Cheers.

I currently operate T10 trading only so need a movement fast.

A friend spoke of these last w/e and I too found the note by Hemscott 8 Ball, we'll see how it goes.

I don't usually touch such risk - but have been recently having a large amount of success through T10 on the likes of rr. lloy barc rbos bay and my favorite at the mo isys. Isys has turned a more than tidy profit with it's 9 - 18p range.

Thanks again.

Sorry I don't post much - fairly new to this, learning alt time!

Everey picture tells a story:-)
Target 10p....possibly
Fooey.I take it All your t10`s are Long and your winning??Then well done.Especially as you say your new to this!Sign up for the Traders thread.Lots of good ideas and advice.More Importantly very Friendly too :-)
Iain.(Apologies if you already have)

LONDON (AFX) - Screen PLC said former executive chairman Owen Williams and former executive director Michael Williams yesterday sold a total of 8.7 mln shares in the company, or a 15.562 pct stake, at 5.5 pence apiece.

They no longer have a notifiable interest in the company.

Meanwhile, current company chief executive Adrian Merryman purchased 85,000 shares in the group, or 0.15 pct, while chairman Ian Taylor bought 170,000 shares, equivalent to a 0.3 pct stake.

Company directors, Timothy Wighton, Timothy Sulivan and Geoffrey Carswell each acquired 780,000, 100,000, 120,000 shares, respectively.

They all paid 5.75 pence for each Screen share.

newsdesk@afxnews.com

shw

Seems a decent bloke!

O:>>>

Be very wary of Screen - they are (on the face of it) a very nice prospect - good technology working in relatively recession-proof markets (government spending etc). However, like many other tiddlers, they are an archtypal "jam tomorrow" company - every time they've been anywhere near profit, they've gone back into deficit to purchase another company / IP / whatever.

If they ever make a profit they could rocket, but it's a big if.

Time to bottle it.

Exited at 9.25p.

Jam today for you Hk :-))

Cheers Iain,

All trades at the mo are long. Was on Croc's course in April and am slowly getting to grips with the shorting concept.... my full time job gets in the way somewhat.

I have access to the traders thread, but I just read/follow at the mo! Don't understand half of it.

Eventually it sinks in. Im still waiting :-)
Also dont be afraid to Introduce youself and ask questions,they are a friendly bunch on the Traders Thread.
Best of luck.
Iain

I hate to say "I told you so", but...

"RNS Number:4952S
Screen PLC
26 November 2003


Screen plc ("the Company")

Trading Update


In the interim statement issued on 23 September 2003, the Board indicated that,
because of revenue slippages that the Company was experiencing, it would make an
operating loss in the second half. Our expectation had been that such loss
would be a significant reduction from the loss incurred in the first half.

The Board now expects that the loss in the second half will be of a similar
magnitude to that experienced in the first half. This deterioration in
profitability has occurred in two areas of the Group. Firstly, there has been
a further slippage of revenues at Joyce-Loebl in its rail transport division.
As reported at the interim stage, Joyce-Loebl has not been able to isolate
itself from the difficulties in the rail transport industry, which have been
fully reported in the press.

Secondly, the level of investment required at Petards Vision to bring to market
the latest version of its Advantage Security & Surveillance Command & Control
software is proving greater than expected. Advantage software integrates and
automates critical security and surveillance functions, resulting in earlier
identification of threats and automated real-time notification of the
appropriate security personnel. The Board is confident that the market for this
product continues to grow. The roll-out for the product is now expected to take
place in the first half of 2004.

In response to the reduced profitability, the Board has decided to take certain
actions to streamline the management structure and reduce costs.

Adrian Merryman, Chief Executive, will step down with immediate effect. Adrian
Merryman became Chief Executive in December 2002 at the time of the Company's
re-admission to AIM. We are fortunate to have benefited from his experience
during a very difficult period for the Company and are grateful for his
contribution throughout. Tim Wightman, currently non-executive chairman, will
become Executive Chairman.

During the forthcoming months the Board will continue to pursue strategies aimed
at achieving greater focus and critical mass.

26 November 2003"