Companies: AMO    AZH    PDC    PNT   

News Pipeline

Half time figures to June are expected tomorrow from PlusNet (PNT), the self-appointed 'best value internet service provider' in the UK. Shares in the company, which traded as high as 411.5p earlier this year, have fallen to 118p, down 3.5p today, on cutthroat competition in the broadband market.

On the new issues front, small business loan play 1pm plc is planning a flotation on AIM next month. The Bath-based company provides loans, averaging around £15,000 each, to help fund the purchase of equipment and machinery for small businesses and typically charges around 20 per cent interest.

The board hopes to raise £1.3 million from the float and expects to begin trading in August. ARM Corporate Finance will act as adviser and SVS Securities as broker to the company, which will be valued at about £2.9 million post-float.

BMA Gold, a company with gold prospects in Queensland's Drummond Basin, is also thought to be contemplating a £5 million AIM float. Traded on the Australian Stock Exchange at the equivalent of 11.2p, BMA reckons it has a potential gold resource of 429,000 oz in the region and hopes to increase it by further drilling. Prolific resources specialist WH Ireland is understood to be ready to help with the London float.

Printer poised for pay out

Printing.com (PDC) will pay its 1.25p final dividend on Wednesday, bringing total payouts for the year to 1.75p. In a recent statement chairman George Hardie conceded that 'trading in the printing sector at large is presently reported as being difficult'. The board, therefore, has decided to take 'a cautious view regarding market expectations in the short term' but remains confident of long-term growth.

The company recently reported record profits before tax of £2.41 million (£1.51 million) for the year to March, on turnover up 15 per cent to £12.34 million. Shares in the company, led by founder and chief executive Tony Rafferty, have traded as high and low as 77p and 50.5p respectively over the last 52-weeks, and clipped ahead by 3p to 56p this morning.

Takeover talks at Azure

One rumour doing the rounds in the City is that privately-owned pharmaceutical products developer ValiRx is looking to reverse into cash shell Azure Holdings (AZH), formerly known as Room Service. ValiRx develops a range of pharmaceutical products including a treatment for cancer known as GeneICE, which is designed to halt the growth of infected cells. The reverse deal could value the resulting company at more than £11 million.

Recent News

Amino Technologies (AMO), the Cambridge based broadband television (IPTV) company, unveiled upbeat interim figures to May today. The company grew turnover 73 per cent to £13.5 million, and losses of £900,000 swung to pre-tax profits of £100,000. Chairman Grant Masom commented that although growth in the market 'is neither linear nor entirely predictable', he is 'confident of Amino's prospects in the second half of the year and beyond'. The shares crept 0.25p higher to 80p as the market digested the news and then slipped back to 78p.