31 October 2012 – acquisition and placing
The company has announced that it has conditionally agreed to acquire the assets of Stampwants.com Inc, trading as bidStart, a US-based collectibles business, for a total consideration of US$1m. A related placing priced at 195p will bring in £6m but we find the deal uninspiring. The company has also revealed that trading has been in line with expectations but there are better opportunities around. We advised readers to take profits at 218.5p in August and those who are still invested should SELL.