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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Advance Capital | ACN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | - |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| Top Posts |
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Posted at 30/1/2004 13:43 by silentaction Advance Capital Invest PLC30 January 2004 Immediate Release: Friday 30 January 2004 Advance Capital Invest plc Preliminary Results for Year ended 31st October 2003 Chairman's statement Results Advance Capital Invest, the investment vehicle, was incorporated on 20 October 2000. In conjunction with its admission to AIM on 1 December 2000, the Company raised a total of approximately £2 million cash. During the period under review, ACI has not undertaken any trading activities, but incurred certain staff and operational costs associated with reviewing a number of acquisitions. As a result of the Board's decision to halve their remuneration the loss for the year was reduced to £30,000 (2002: £68,000) and the cash outflow was reduced to £30,000. Outlook The Board continues to actively review potential acquisitions. Since conditions in the market have improved and there is positive investor sentiment the Board believes this will make finding a suitable transaction easier than in the previous two years. ACI remains an attractive investment vehicle and if necessary, one capable of providing additional managerial and capital input into a suitable opportunity, once identified. The Company continues to have a strong balance sheet with net assets per share of approximately 16.4p, consisting predominantly of cash at bank and in hand. Nigel Whittaker Chairman |
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