Secondary Recommendation

Powerleague - Interesting five-a-side football play

July 2005

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.

Following the successful AIM debut of Goals Soccer Centres, 116p, which at one point more than doubled from its placing price amidst a frenzy of euphoric buying, fellow five-a-side soccer operator Powerleague has also enjoyed a friendly, if more muted, reception. After being introduced to AIM at 44p by broker Evolution Securities, the shares hit a high of 55p early on, before settling at the current 51p. The placing raised £12.9m new money for the company which was used to pay off preference shares and some bank debt, leaving pro forma net debt at £16m. Powerleague was established in December 1999 following the merger of two private companies funded by venture capital firm 3i and has since grown to 3 ...

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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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Powerleague - Interesting five-a-side football play

July 2005

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