Updates

Wembley - US legal worries hit share price

April 2003

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Wembley's final results were slightly ahead of forecast, but the share price was hit by an event unrelated to current trading. We found the company's official stock exchange announcement somewhat confusing and telephoned finance director, Mark Elliott, for clarification. According to Elliott, back in May 2001 Wembleysacked two employees at its Lincoln Park video lottery terminalbusiness in Rhode Island. This matter was unrelated to theemployees subsequent allegation that a third party had suggested toWembley's board of directors that they should "reward" their LincolnPark lawyers with a bonus payment related to good work performed inthe past. Elliott stressed that the board never followed up thissuggestion ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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