News blog
Water Hall Group
- BY: Andrew Hore |
- POSTED: 21/05/2010 |
Water Hall Group has increased its stake in AIM-quoted security systems supplier Petards to 13.27%.
Water Hall has bought 38m shares at an average price of 0.6461p a share. The total cost is £248,000. Water Hall had £1.68m in cash at the end of June 2009 plus a further £1.34m held jointly with the Environment Agency in escrow. There is also a stake in Lloyds Banking valued at £493,000. The Petards stake was valued at £210,000 at the end of June 2009. The original purchase price of those shares was 0.51p each – a total cost of £238,000.
Petards made a pre-tax profit of £1.02m on revenues of £15.9m in 2009.
Water Hall will report its 2009 figures on 26 May. It is currently trying to sell its quarrying business.
At 3.75p a share, Water Hall is valued at £2.13m.
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