25 May 2012

PLUS Markets up for sale

03/02/2012 Robert Tyerman

Share market operator PLUS Markets Group (PMK) is to conduct a formal sale process to identify potential partners or backers.

The AIM-quoted company, which runs the PLUS-quoted share market as well as alternative trading platforms for securities quoted on the main market or elsewhere, has hired investment advisory specialist Wyvern Partners to help this process.

Steered by chief executive Cyril Theret, PLUS Markets, which lost a much-reduced £1.5 million in the first half of last year, came in for serious criticism later on from shareholders, such as Middle Eastern syndicate Amara Dhari, and the then chairman Giles Vardey resigned 'for operational reasons'. Directors now say the company is 'well positioned strategically' and recognises 'scale and international reach will become increasingly relevant.'

Already a small fraction of former highs, PLUS Market shares fell from 2.3p to 0.3p over the past year and now trade at 1p, down 0.13p today. They are likely to remain volatile.

Tags: AIM market, Amara Dhari, Cyril Theret, PLUS Markets

Sector: General Financial

Companies: PLUS Markets

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