26 July 2016

Interim loss at Amberley

AIM-quoted refugee from the Full List, Amberley Group, the former speciality mineral and chemical outfit now a shell company run by French entrepreneur Guy Naggar, lost 68,000 in the six months to October and is continuing to 'search for opportunities to create significant shareholder value in the long term'. Robert Tyerman reports.

Amberley, which raised 1 million at 10p plus warrants in August, says its net asset value at the end of October was 2.45 million, or 6.95p a share, including 2.3 million cash. In late October, the company bought contracts for difference over ten million shares in fully listed fibres, umbrellas and wall coverings group Chapelthorpe at an average price of 18.9p a share, against today's 20p.

Naggar says Amberley has looked at 'a number of potential investments, in both the public and private arena' and promises that 'shareholders will be kept informed of any major developments'. Positive news would be welcome indeed for investors who have seen the shares halve to 12p since 2000.

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