Amberley Group is considering its options because the Aim quotation is disproportionately expensive for its size.
Amberley’s ongoing asset is a 23.9% stake in investment in smartcard company Fortress (GB) (www.fortressgb.com). The company is involved with RFID technology and it uses it in stadium and venue management. The technology is used at Wembley Stadium and will be used at two grounds in South Africa for the 2010 World Cup.
This stake in Fortress (GB) is valued at £4.1m in the Amberley balance sheet. Amberley’s share of its loss was reduced from £73,000 to £9,000. Fortress (GB) made an underlying profit. Amberley’s overall group loss fell from £200,000 to £121,000 in 2008. There was £49,000 in the bank at the end of 2008.
The shares were suspended at 2.5p a share on 29 June 2009, which values Amberley at £1.63m. The shares remain suspended because the interim figures to June 2009 have not been published.
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