Updates

Interactive World - Reverse take-over by Sport Group Newspapers

September 2007

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.

Interactive World, which has come back from suspension, has conditionally agreed to a £50m reverse take-over by Sport Newspapers, a company half owned by David Sullivan and half owned by the Gold brothers. This is to be financed by way of a placing of 58.26m new shares at 75p raising £43.7m before expenses and also by the issue of £5m loan notes. Sullivan, the chief executive and founder of Interactive World (ITW), is also selling his remaining stake in ITW, netting him a cool £14.5m before expenses. Sport Newspapers owns the Daily and Sunday Sport newspapers, which currently represent 1.6% of the "Red Top" market. In the nine months to 31 May it made a pretax profit of £2.8m on turnover of ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Zetar - Organic growth running at 27%

Griffin Mining

Interactive World (August 2007)

Interactive World - 8% prospective dividend yield (April 2007)

Interactive World (March 2007)

Interactive World - Generous dividend (November 2006)

Interactive World - Enters Trader Portfolio (September 2006)

Interactive World - High margin business on low prospective PE of just 8.0 (August 2006)

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