19 March 2010

Corvus buys into Global Gaming

27/06/2006 Robert Tyerman

Financier Andrew Regan's Corvus Capital has bought 26 per cent of Global Gaming Technologies, which is seeking a new boss.

Geneva-based Corvus, Regan's vehicle for several strategic quoted and unquoted investments, has bought 48.7 million shares in fellow AIM counter Global Gaming from Global's chief executive Paul Pullinger, non-executive Chris Cleverly and former director Dominic Johnson. Corvus paid 0.375p a share, a hefty discount to Global's already depressed 1.63p price, which has today fallen again to 1.38p.

Pullinger and Cleverly have resigned from Global today and chairman Ron Trenter says the company, which floated on AIM in 2004, is looking for a new chief executive. Professing to be 'delighted' with Corvus' investment, Trenter says Global started with the goal of 'providing enabling technologies in the gaming sector', but has now decided to 're-establish' its strategy 'with the specific aim of acquiring additional complementary businesses'.

That is an area where the previously controversial Regan's experience would be relevant.

Global's shares, which reached 11.25p in early 2005, have fallen below 1.4p on disappointment at the discount paid by Corvus, whose own shares have slipped by 9.25p today to 14p.

Regan undoubtedly has some ideas for Global. Shareholders must hope they are the right ones.

Sector: General Financial

Companies: Corvus Capital , Sirius Petroleum

Subscribe today

£7,277

That’s what you would have in your portfolio if you had invested £6,000 into the six Company Watch recommendations in our April 2009 issue.

Subscribe now and receive a 50% discount

AIM in Review 2010

Growth Company Investor, in association with the London Stock Exchange, presents the most wide-ranging and detailed examination of the AIM market: AIM in Review 2010. For more information and to order, click here or contact our marketing team on 020 7250 7056.

Directors' Pay on AIM 2009 – ­ a Growth Company Investor publication in association with Deloitte

The report reveals the top-earning chief executives and remuneration levels at AIM's most profitable and fastest-growing companies. It also examines constituent parts, including basic salary, bonus, pensions, benefits and share-based payments. To order click here.

Free – Latest Stock Recommendations

Free access to the latest AIM stock recommendations and news from the award-winning Growth Company Investor team. Receive our tips on what stocks to buy direct to your inbox every Tuesday and Friday. Find out more today.

Select your level of risk and we select the funds

Cautious? Positive? Adventurous? Choose between three levels of risk for a fund of funds from Sharefunds, our sister company. Click here for more information.

The AIM Guide 2009/10

The brand new, fully updated AIM Guide 2009/2010 is now available to purchase. AIM Guide is the only fully comprehensive guide to AIM and is regarded as 'must-have' for any serious investor or professional interested in the market for young, fast-growing companies.   Order your copy today and benefit from a £10 discount!

VCT Special Report 2009

This report's principal aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest. Click here for more information.

Cash Shells Special Report 2009

Business XL, the award-winning monthly magazine for growing companies, is delighted to announce the launch of a new study on cash shells. The research provides a comprehensive overview of cash shells on AIM, companies that have become a significant feature on the AIM landscape. Buy the Cash Shells 2009 Research Report today or email Halid Delkic to obtain a free two-page abstract.

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Record output at Cluff 19/03/2010

Potential bid candidate Cluff Gold produced 19,288 oz of gold in West Africa in the first two months of the year.

Tags: AIM , Cash , Commodities

Sector: Mining

Companies: Cluff Gold

Brainspark takes football stake 19/03/2010

As foreshadowed in the latest Growth Company Investor, investment minnow Brainspark is buying into Italian football club AC Ancona.

Tags: AIM , Deals & contracts , Fundraisings

Sector: General Financial

Companies: Brainspark

Avocet targets growth after setback 18/03/2010

Gold producer Avocet Mining hopes its Wega acquisition will take 2010 group output to 200,000 oz after a flat nine months.

Tags: AIM , Commodities , Mergers & acquisitions

Sector: Mining

Companies: Avocet Mining

More News

Sectors

Vitesse Media Events