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Plus Markets Group

  • BY: Andrew Hore |
  • POSTED: 17/05/2011 |

Bruce Rowan has increased his stake in Plus Markets Group to 11.45%.

Rowan is involved in a number of companies on the Plus-quoted market of Plus Markets. He has increased his stake from 25.5m shares to 44.3m shares. Lloyds Banking sold more than 10m shares on the same day that Rowan increased his stake. Lloyds still owns 3.76%.

Rowan bought 18.5m shares in November last year.

Plus Markets reported flat revenues of £3.05m in 2010. Costs are being reduced but even if depreciation, amortisation, write-offs and interest are excluded the loss only fell from £8.43m to £5.77m. The company hopes to break even during 2012. There is £5.89m in the bank but that wonh’t last long if the cash outflow is not stemmed as soon as possible.

At 1.77p a share, Plus Markets is valued at £6.87m.

Download the May 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFMay2011_20.pdf

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