Updates

Begbies Traynor - Gain since January: 98%

September 2005

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.

Begbies Traynor has acquired Essex-based Taylor, Gotham and Fry (TGF) an insolvency services firm. The consideration is £3m cash on completion plus a deferred consideration, estimated at £3.5m payable over the next five years in cash and shares. To fund the cash element, Begbies also placed 6.2m shares at 100p to raise £6m net. TGF has a similar mix of business to Begbies and has had a long association with the firm, operating in Southend, Sidcup and West End, under the Begbies brand name for which it pays a royalty. On a proforma basis, allowing for ongoing remuneration of its principals it is expected to have made a £1.1m profit on sales of £3.5m in the year to 31 March. ...

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James Fisher

SMC - Attractive ground floor opportunity

Begbies Traynor - Fewer but larger acquisitions planned (August 2006)

Begbies Traynor - Moves into personal insolvency (IVA) market (February 2006)

Begbies Traynor (June 2005)

Begbies Traynor - Earnings enhancing acquisition (March 2005)

Begbies Traynor - Insolvency practitioner seeing strong like-for-like growth (January 2005)

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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