Updates

Innovation

June 2009

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.

Our comment last month that TIG was contemplating a fundraising was remarkably prescient with the company announcing a placing of 63.4m new shares (9.8% of the equity) at 8p to raise Â£5.1m before expenses. Net cash before the fundraising was Â£1.6m. The placing came one week after TIG reported its H1 results to 31 March. These showed sales were up 14% organically to Â£75.5m and adjusted pretax profit was Â£4.9m. However, after adjusting for non-cash foreign exchange gains and for a one-off actuarial gain in H108, underlying profit was up from Â£1.8m to Â£3.7m. As we noted in our March write-up, in the last few years there has been a significant shift in strategy from being a software vendor to a software-led BPO comp ...

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Topps Tiles - Shares briefly hit Â£1 in June

Inland - Trading at third of net asset value

Innovation (October 2015)

Innovation (May 2015)

Innovation (January 2015)

Innovation (September 2014)

Innovation - LAS moves iy into huge "wet" perils market (June 2014)

Innovation (September 2012)

Innovation (January 2012)

Innovation - New contract wins (November 2011)

Innovation (September 2011)

Innovation Group - Targeting building claims alongside core motor claims business (June 2011)

Innovation Group (May 2011)

Innovation Group (January 2011)

Innovation (September 2010)

Innovation (March 2010)

Innovation Group - Â£21m fundraising at 10p (January 2010)

Innovation (September 2009)

Innovation - Two contracts worth Â£4m (May 2009)

Innovation Group - In play (April 2009)

Innovation Group - Q1 sales +17.5% (organic) (March 2009)

Innovation - New customer wins (February 2009)

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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