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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Worthington Nichols - Air conditioning installer winning large hotel contracts

April 2006

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.

Hotter summers and recent EU legislation have helped businessskyrocket at Worthington Nichols, the UK’s largest installer of airconditioning and ventilation systems, which will be joining AIM at theend of March. Corporate Synergy is acting as nominated adviser andbroker and will place up to £15m, of which half will be a retirementsale by the founder and the remaining £7.5m will be new money, to fundboth organic and acquisitive growth.The market value is expected to bebetween £30m-£35m. Although air conditioning may not exactly send investors’ pulsesracing, the fact is that Worthington has made hay in a big way. Back in2001, sales were just £2.1m but by 2005, they had grown to £11m andamazingly, they are expected to reach ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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