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Mid-States - Does deal after almost five years

September 2006

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.

  • Epic Code:
  • MST
  • Price:
  • 15.5p
Mid-States (MST; 15.5p susp) was one of the first ever companies to be featured in Sharewatch in 1993 and as a result has a special place in our hearts. Back then it was one of four UK-listed companies with their business in the States and control resting in the same group of directors. Its main activity was the distribution of car parts but that business was sold in 2001 since when Mid-States has not traded but has remained a dormant cash shell, with £7.7m. It’s been a long time coming, five years in fact but earlier this month Mid-States quietly announced that it has finally found a business worth acquiring. Unlike most reverse takeovers, it is not issuing very many shares. Instead, the acquisition of two businesse ...

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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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