Updates

Parity

February 2015

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.

Parity has been a disappointing performer since its fundraising and contemporaneous move down to AIM. Despite grand intentions and even moving to the role of executive chairman, Philip Swinstead has spent most of the money on papering some cracks in the IT contractor agency (it absorbs working capital as it grows) rather than on a large acquisition elsewhere as had been intended. The large IT contractor agency is we suspect on the block to be sold as the ultimate bit of refocussing.When/if this comes off it would leave the SuperCommunications division, which comprises the Golden Square content production and post production business and was acquired last April from administration; Inition; and the rump of Parity’s IT solution ...

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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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