Updates

Spice -Eliminates loss-making gas business

July 2010

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.

Spice has received an unsolicited approach from Cinven at 56p cash per share, which explains the strength in the shares last month. The offer has been described as â€œopportunisticâ€ and Spice has not opened its books to the VC-buyer. Earlier in the month, Spice also announced the disposal of its problematic gas division, which although disposed of for nil consideration, removes a perennial loss-maker.In the year to April, the gas division lost Â£6.4m on sales of Â£34.4m and marks the end of Spice's unsuccessful foray into the area but leaves it focused on its supply and utilities facing distribution businesses. Results due on 6 July. A good recovery in the share price this month. Ho ...

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