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Moneybox - Leader of the ATM pack

April 2004

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 long wait,  Ambient (8p) has divested itself of its ATM business, which obtained a separate quotation as Moneybox on AIM on 18 March.  Ambient shareholders received 1.09 Moneybox shares for each Ambient share they previously held.  "New " Ambient will then comprise the residual businesses.  At the same time, Moneybox placed a total of 101.1m new shares at 47p, raising £20m after expenses for the company and the rest for selling shareholders. Some of this (£7.5m) is being used to pay for the acquisition of G2, a developer of cashless payment systems.We see the Moneybox business as a "best of breed" in the ATM sector (which includes Cardpoint and Scott Todd). Moneybox ...

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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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