Share Name Share Symbol Market Type Share ISIN Share Description
Block Shield Corporation LSE:BLS London Ordinary Share GB00B00SHH97 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.60p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment - - - - 0.20

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Date Time Title Posts
08/4/200909:55Block Shield Corporation293
13/12/200608:05Block Shield-A Blockbuster1
03/3/200503:34A Magnetic stock!!41
05/11/200412:51Block Shield Corporation - a winner in the making6
05/2/200021:09Blakes - about to fly again?!4

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inside2: Well it certainly shows considerable confidence in the company and its future as 36% is a very big premium. They must really believe they will get their money back. But it does beg a question regarding cash flow, I would suggest there willingness to do this makes it a short term issue if one at all, they are after all in a position to know what contract ect. are in the pipeline. So on balance my take on this is a positive one, which may well be the only reason behind this, the share price could after all do with some support.
crapjokes: Interesting chart forming chaps - share price copuld nip through the 50 day MA, which should hopefully turn up shortly. Just in time for the new EU regulations on RFI shielding to come into effect and everyone spot the potential of this stock.
britishbear: Good to see the share price reacting (at last) to the key patent wins. Along with a general bounce in small techs this should see BLS moving forward. What we need is more general acceptance of RFID and its future potential. With INN off its highs there is still some way to go but happy to be in both companies at this early stage.
britishbear: Some good RFID related news here - should help the share price. Good entry price as well. These, as the RNS states, are likely to be of major commercial value and shows the direction of the company. --------------------------------------------------- Embargoed Release: 07:00hrs Wednesday 18 May 2005 BLOCK SHIELD CORPORATION PLC (`the Company' or `Block Shield') Block Shield grant of two new Patents Block Shield Corporation plc (BLS.L) a leading provider of innovative electromagnetic shielding products for radio frequency emissions, is pleased to announce that it has received Notices of Allowance from the US Patent Office for the issuance of two new Patents relating to equipment and methods for producing metallized thermoformable EMI shielding material and EMI shielding for electronic component packaging. The granting of these two new patents brings the total number of patents granted to Block Shield to ten. The applications covered by the patents are of major commercial importance for addressing, securing and protecting the higher volume markets of electronic equipment and components respectively. The first patent provides Intellectual Property coverage in industrial processes in order to provide solutions for full volume automation in the production of shields against electromagnetic interference (EMI). These innovations are highly advantageous for applications in high throughput production processes, which are typically required in the case of electronic equipment manufactured for professional and consumer use, where the challenge is profitable products within competitive prices. The second patent covers solutions identified for EMI protection of integrated circuits. The growth in the sophistication of processes for integrated circuits has resulted in their being a major source of EMI. The increasingly compelling and effective solution to this problem is to shield the whole integrated circuit. The process covered by this patent is particularly suitable for the purpose. Dr. Pier Antoniucci, CEO of Block Shield, commented: "The electro magnetic compatibility (EMC) solutions offered by Block Shield are gradually expanding towards markets of large volume equipment with competitive pricing. The challenge of the high volume profitability is met with manufacturing automation and miniaturization. These patents protect not merely our proprietary EMI components and integrated circuit casings, but also the equipment and processes for the automated and industrialized manufacturing of those items. As a result, our confidence in being able to effectively satisfy the market requirements is significantly increased". The Company expects its preliminary results to be published on 15 June 2005.
katylied: The good news (for me) is that I have figured out what this company actually does, have had a look at the patents (except the 2 RFID applications, as they don't appear to be published yet) and have more or less seen where the company is coming from... and going to... On the whole I like what I see, but... While actual current growth remains unknown, the share-price (or rather 105p) is in fact, the logical price for these shares. The chart shows why, but more to the point another chunk of shares at 105p are due to be listed by end of year (though not necessarily so - debt repayment/conversion). It seems that the shares are now likely to sit at this level, unless some good reason not to, arrives out of the blue... So, while in the past, I have been indecisive about such situations, this time I am not so sure... doh!
tyranosaurus: This board has gone deathly quiet. Share price has come down a bit and I now think this company looks interesting. Results due in about a month. Any thoughts ?
dibbs: Very interesting company. Technology, partners and potential market size imply great possibility for share price growth. Other than wave zero website and RNS it seems hard to find much company info. Does anybody have any pointers towards more? Dead BB also a good sign! Level 2 extras show a large amount of stock in few hands. Has anybody spoken to the company? Thanks in advance Dibbs
mark watsonmitchell: This morning SQC Research has published a profile on Block Shield Corporation following its latest results announced last Thursday (also see the latest news announcement about RF-ID Tags). I hope that readers find it of interest. Principal activities: The Company's principal activity is the provision of patented solutions and products for shielding electronic components from electromagnetic radiation. FT Sector: AIM EPIC Code: BLS Price: 106.5p 52 Week Trading: High: 113.50p Low: 88p Shares issued: 25.55m ordinary shares of 1p each Market Cap: £27.2m Gearing: Net assets at Admission: $4.27m and cash of $3.88m (see text). Results: Finals – March Interims – September AGM - May Marketability: Three market makers deal in up to 10,000 shares on a 5p spread Brokers: Teather & Greenwood (020 7426 9000) Company Contact: Michael Fitzgerald, Non-Executive Chairman (00377 93 25 67 19) or Dr Pier Antoniucci, Chief Executive Officer (00 1 408 745 0561 EXT: 104) Year T/o $ PTP $ EPS c DPS 2004 Est 2,000 (3,700) (0.15c) Nil 2005 Est 17,000 2,500 0.10c Nil CONCLUSION 'Early stage opportunity of world-class potential' Block Shield is an exciting new company, possessing patented technology to solve the problem of electronic interference in a better, cheaper and more environmentally acceptable way. It has just started commercialising its technological advantages and is aggressively targeting a huge $2bn plus global market. Based in the United States and led by experienced management with a successful record of developing leading technology into substantial shareholder value, Block Shield today represents an early-stage investment opportunity in a potentially world-class company. We understand that the Company is close to breaking even, certainly before the year end. We consider that the market has yet to recognise the Company's potential, there is massive upside for its shares. We confidently set a six-month Target Price of 150p. COMPANY BACKGROUND The Company was formed in 2000 to bring together a highly experienced management team from the United States electronics industry to introduce new technology into the global electronic shielding industry. At foundation the Group owned an existing decorative metallising business and acquired key patents for its technology. Block Shield Corporation is a member of a group of companies of which it is the holding company. It has three wholly owned subsidiaries, WaveZero Inc, New WaveZero Inc and VPI Inc, all of which are incorporated in the Unites States. The activities of the Company are currently primarily in the United States where it has headquarters in Silicon Valley, California and production facilities in Wisconsin. The Group is now in a mature stage of development and is beginning to commercially exploit its range of patented technological solutions. It listed on AIM on 27th April 2004. The Company chose to list on a stock market in London rather than in the United States as it has ambitions to be a global supplier. The principal shareholder is Australian entrepreneur Michael Fitzgerald, who is a successful investor in and manager of technological and biotechnological companies. DIRECTORS Michael Fitzgerald. Non-Executive Chairman, aged 45 Michael is a qualified lawyer and has authored numerous articles on banking and company law. He has founded or co-founded a number of healthcare, material science and medical device companies. He was co-founder and Chairman of Gemini Genomics plc prior to its successful merger with Sequenom Inc which valued Gemini Genomics at $239m. Dr Pier Antoniucci. Chief Executive Officer and President, aged 62 Excited by Block Shield's potential Pier, who has more than 30 years of technical and business leadership experience from the electrical manufacturing sector, has returned from semi-retirement to become CEO of Block Shield. He is the former President and Chief Operating Officer of P-Com. While at P-Com, yearly sales grew from $700,000 to about $200 million and the company went public in 1996. Prior to joining P-Com, he launched and led as President the Granger-Telettra JV, a US provider of digital microwave systems, successfully sold to Alcatel Network Systems in 1992. Dr Rocky Arnold. Chief Technical Officer, aged 55 Rocky is a founder of Block Shield. He has five degrees and a broad background in electronic product development and the commercialisation of technology. From 1995 to 2000 he was employed as a consultant and then business development director and manager of radio frequency design at Logical Service Inc. He has worked with the US Army on three research products involving EMI shielding and for Ford Aerospace and Communications Inc (now Loral, Inc). He also has significant start-up and turn-round management experience. Kenneth Judge. Non-Executive Director, aged 49 Kenneth is a qualified barrister, experienced in the technology and natural resource sectors. He is a director of other AIM-listed companies including Brazilian Diamonds and Hidefield and Alto Ventures, listed on the Toronto Stock Exchange. Richard Gadbois. Non-Executive Director, aged 46 Richard is President and founder of Vantis Capital Management, a Los Angeles and New York asset based management company. He has held senior positions with Merrill Lynch, Prudential Securities and Shearson Lehman Hutton. The Group intends to appoint a Finance Director in the near future. COMPANY ACTIVITIES Block Shield and its subsidiaries use their know how and proprietary and patented processes to create innovative solutions to eliminate, reduce or contain electromagnetic interference (`EMI') within electronic devices, as well as to guide component generated electromagnetic radiations along targeted transmission paths. With operating facilities in Sunnyvale California and manufacturing facilities in Mauston, Wisconsin, the Company addresses the consumer electronics, communications, medical and military markets. The Company's Electro Magnetic shielding innovations provide solutions to an increasing number of applications brought about by the ever expanding types and families of electronic equipment, such as data and telecom devices and their expanding speed and range of processed electrical signals. Whilst the Company's products are increasingly needed also to meet a growing set of environmental regulations to contain Electro Magnetic pollution, they themselves meet all existing and promulgated international standards for environmental compliance, such as the European Waste Electrical and Electronic Equipment Directive ('WEEE'). THE ELECTROMAGNETIC INTERFERENCE (EMI) MARKET All electrical devices generate electromagnetic radiation. EMI is unwanted and/or disruptive electromagnetic radiation which has to be shielded, ie suppressed or contained. An electronic device or product which is not shielded will emit outgoing interference which will disrupt the proper function of other electronic devices nearby. Also it will be subject to possible incoming interference from other devices. Moreover, the increasing complexity of modern electronic devices and products has meant that each product will incorporate several separate sources and types of EMI, each of which must be shielded from the other for the whole product to function correctly. For example a modern washing machine will incorporate an electric motor and electronic programmers and controls which will, if individually unshielded, interfere with the proper functioning of the other components. A computer will have a power supply and substantial number of individual printed circuit boards which must be shielded individually. The traditional technologies to effect shielding are: 1. Metallised injection-moulded plastic outer housings with the plastic incorporating metallic elements; 2. Sheet metal enclosures made entirely from metal, usually aluminium; 3. Die-cast metal enclosures; 4. Heat stakeable plastic cups; and 5. Painting, spraying or lining plastic casings with metallic film or paint REGULATORY CONSIDERATIONS The market has been driven by legislation throughout the world which prohibits the marketing and sale of products which do not comply with minimum standards of electromagnetic compatibility (EMC). These standards are becoming more onerous over time. The most stringent EMC regulations have been enacted by the European Union. However, all manufacturers will have to conform to the most stringent regulations enacted anywhere in the world as the cost of making special products for different jurisdictions with differing regulations is prohibitive. Additional to shielding standards is the need to dispose of electrical equipment safely after its useful life is over. In 2002 the EU enacted both WEEE and the Restriction on Hazardous Substances Directive (RoHS). Manufacturers will be prohibited from using specified materials (eg mercury and lead) within electronic products and will be required to recycle certain products containing specific metals (eg copper and gold). This will affect the choice of shielding technology leading to a legal or de facto prohibition on the use of existing technologies which are lead-based paint or contain gold and copper. ELECTRONIC PRODUCT CONSIDERATIONS Other factors affecting the EMI market include: • Increasing complexity of electronic products which are required to perform more functions; • Miniaturisation of products, eg mobile phones and PDAs; • Ever higher frequencies being used, especially for science and military applications; • Increasing use of plastics over metal due to cost and ease of design and manufacturing; • The growing number of electronic products being produced; and • Increasingly, manufacturers are designing in electronic shielding at product design stage. MARKET SIZE Block Shield estimates that the total market size for the global EMI market is currently around $2bn. Of this the Company's estimate for the two largest segments is approximately $1.6bn: the EMI shielding service market is today worth $900m; and the shielding materials market was $700m in 2000. Block Shield is involved in both these markets. Examples of industries which need to employ EMI shielding include consumer electronic products, IT hardware, telecommunications, automotive, instrumentation, medical devices, aerospace and military. BLOCK SHIELD's SOLUTIONS Block Shield's principal product solution is marketed under the Form/Met registered name. Its shielding products are made from vacuum metallised thermoformed plastic. Polymer films chosen by Block Shield include PC, PETG, PBT or PVC based films which are, typically, only 10 mil thick. The patented process involves the vaporisation and deposit of a thin film of 99.8% pure aluminium onto the polymer film. The finished Form/Met film is readily shapeable into any desired form to suit a wide range of electrical and electronic components and products. Having such a flexible product, Block Shield has pioneered the concept of an Insertable Shield. Typically this will effectively envelop individual components in shaped Form/Met film. It will also provide an insertable wrap for a product between the circuitry and the outer housing. The principal advantages of Block Shield's solution are that: • The shielding is thinner and lighter than traditional solutions, eg some 20% of the weight of steel. • Form/Met shielding is cheaper than traditional solutions. Fast prototyping, low tooling costs and reduced logistical costs can provide a saving of 30% to 50% in producing the shield and attaching or inserting it into the electronic component or product. Manufacturing labour costs can be reduced; for example the cost and time usage of painting or spraying outer plastics can be saved with the simple insertion of a Form/Met shield. • The product equals the best of traditional solutions at 75dB shielding effectiveness. However, with the use of double-sided metallisation, the level of shielding can be raised to provide extra levels of shielding where required, for example where high frequencies are involved. • As the Form/Met insertable shield is detachable from the product component(s), it allows easy removal and re-installation for repairs. • Form/Met shielding is compliant with all existing legislation and it is expected that this will apply in the future. The insertable shield can easily be detached or removed prior to the product being recycled or disposed of. The shield itself is separately recyclable. • The EMI shielding can be planned in at the product design stage. Currently, product design is normally done first and EMI solutions are added later in the design stage when the need for EMI shielding is identified. This gives OEM's greater control over the manufacturing process, shorter product cycle times and times to market. PRODUCT DEVELOPMENT The Company has been developing additional solutions for special applications including, so far, shielding for cables, vacuum metallising of complete printed circuit boards, shielding of connectors, applications where airflow systems are involved and a reflective shield for use in vehicle headlights. Each application has its own trademarked product. The Company continues to develop special solutions for further shielding markets. PATENT PROTECTION Block Shield acquired three pieces of intellectual property from Mr Jack Grabower, the original inventor of the process of metallising thermoformed plastic. Mr Grabower is still employed by the company. The Company has a policy of fully protecting its intellectual property. There are now five patents owned covering both processes and design elements. Patent protection applies until 2015 for three of the patents so far granted and until 2020 for the others. A total of 24 patent applications are pending and provisional filings have been made for 7 further applications. COMPETITORS 3M, Chomerics, Laird Group and W L Gore are the largest providers of EMI shielding products and/or services. Product companies manufacture materials, for example conductive paint, metals or plastics. Service companies apply the materials and tooling or fabricate materials. Block Shield will be involved in both product and services. CUSTOMERS Early adopter clients include Siemens Medical Bose, OCLI/JDS Uniphase, Rockwell, Sun Microsystems and Orasure. The early acceptance of and expressions of interest in Block Shield's EMI solutions by these leading global companies in the electronics industries is impressive and indicates that the solutions will be taken up by a range of further customers. FINANCES Over $12m has been invested in the company to date. The Company has raised $5.2m prior to listing on AIM and was considered to have adequate assets to finance working capital during its initial launch and development phases. SQC Research estimates that the current net cash balances are circa $750,000. SHAREHOLDERS The Company has less than 100 shareholders. There are 25.55m ordinary shares of 1p each in issue. Major Shareholders (as at 30th September 2004): Cloverleaf Holdings Ltd (dup), 14,168,254 shares (56.11%); Michael Edward Fitzgerald (dup), 14,168,254 shares (56.11%); Salina Investments, 1,125,000 shares (4.46%); Westwood Venture Partners LLC, 1,113,648 shares (4.41%); and Umbria Investment Corp, 787,500 shares (3.12%). Director Rocky Richard Arnold holds 194,877 shares (0.772%). CORPORATE STRATEGY The Company has a manufacturing capacity, VPI in Wisconsin, which produces prototypes, limited production orders and proves scalable production. It also has a five-year strategic partnership with WaveZero Manufacturing, a private company set up by the CEO of Sigmatron, a Nasdaq contract electronics manufacturer, to manufacture longer production runs of vacuum metallised films and products. In relation to very high volume manufacturing, which cannot be handled by VPI or WaveZero, the Company will licence out manufacturing to contract manufacturers or other appropriate Manufacturers. The Company initially sub-contracted its sales operations in order to put in place a broadly based sales network for the aggressive rapid penetration of key markets and access to a substantial number of customers. QuinTec, a newly formed sales organisation was established to market Block Shield products and services to the United States electronic industry. QuinTec was appointed exclusive distributor in North America and aims to have in place around 100 sales representatives by the end of 2004. QuinTec was acquired by Block Shield on the 1st September 2004 (see below). Initially manufacturing and marketing operations will be tested in the United States markets prior to expanding on a global scale. ACQUISITION OF QUINTEC (announced 2nd September 2004) Through its US subsidiary WaveZero on 1st September Block Shield acquired the 70% of the issued share capital of QuinTec LLC not already owned by the Company and accordingly QuinTec has become a wholly owned subsidiary of Block Shield. QuinTec is Block Shield's Master Sales Representative Organisation responsible for appointing, co-ordinating and training sales representatives for the Company's products throughout the USA. Pursuant to the acquisition arrangements, the consideration is to be satisfied by the issue of 300,000 fully paid ordinary shares of £0.01 each (at a deemed value of £1.10 per share). These shares are to be held by a nominee of the vendors and may not be sold or otherwise disposed of prior to 1st September 2005, without the consent of the Company. As a consequence of the purchase: • warrants granted to QuinTec by Block Shield in respect of not less than 900,000 ordinary shares will be cancelled; • all key employees of QuinTec will join the Block Shield group; and • the Company will become entitled to retain for its own profit an amount equal to 5% of its gross revenues which QuinTec was entitled to receive. As part of the arrangements Block Shield has also transferred its 30% holding in M-Inence LLC (the Northern California sales representative company for Block Shield's products) to the controllers of that company. The Company does not envisage that QuinTec will require additional working capital from Block Shield. For the 7 months to 31st July, 2004 the unaudited management accounts of QuinTec show that it had turnover of $503,140.22 and made a profit before tax of $4,220.86. As at that date it had net assets of $897,493.13. Block Shield's Chief Executive Officer, Dr. Pier Antoniucci, commented: 'I am very excited by the acquisition. QuinTec has done an excellent job in identifying and training sales representatives for Block Shield throughout the USA. Block Shield and the management of QuinTec believe that, as product demands increase, customer satisfaction with our products and services can be more efficiently and profitably achieved by having our sales organisation working together with our other subsidiaries under the same corporate umbrella. This should also, obviously, permit us to make further savings through shared costs of operations. We are very happy with the manner in which QuinTec operates and have no intention of interfering with this methodology.' LATEST RESULTS (Interims – announced 30th September 2004) The Interim Statement for the eight-month period ending 31st August 2004 showed turnover of $622.911 against $1,034,898 for the twelve month period to December 2003. Research and Development expenses for the eight-month period were $1,375,985 against $300,786 for the twelve months to December 2003. The period's loss fell from $2.70 to $0.19 per share. The first eight months of 2004 proved to be an exciting, highly productive and transforming period for the Group. In addition to the Company's floatation on the AIM market, the Group has been increasingly active and successful in: identifying and securing new and potential customers, for both existing and expanding product lines; strengthening its R&D by continuing to create new product and expand engineering capabilities; and solidifying the Group structure with the reported appointment of a new CEO in July and the acquisition of QuinTec and its direct sales organisation in August. Importantly, during the reporting period, the Company experienced a significant shift in the general approach of customers, who now embrace the capabilities and advantages of its products and have turned their focus towards the methodology of incorporating those products into their devices. Product adoption is starkly evidenced by the dramatically increased level of prototyping, pre-production and production orders which the Group is currently enjoying. In relation to sales developments, the Company's customer market penetration has grown rapidly. During the reporting period, the Group received production orders – or commenced working on specific projects with – a number of important high volume business customers. These include Bose (consumer electronic devices), Siemens Medical and Watkins Johnson (medical electronic devices), Sun Microsystems (personal computers) and Juniper/Celestica (data communications equipment). The extension of its network of sales representations now covers major industrial areas of the USA. A total of 10 representative groups, with about 70 Block Shield trained representatives, have been engaged so far, covering 36 USA states and territories. Post the reporting period end the Company acquired its Master Sales Organization, Quintec Inc., on terms believed to be highly beneficial and advantageous to the Group. Those recent milestones and achievements in the Company's marketing and sales growth constitutes a solid base for the expectation of a substantial increase of both orders and order size for shielding products with consequent ramp-up of revenues in the next six months. On the research and development front, the Company continues to focus on creating new and innovative products, solutions and applications both on its own initiative and in conjunction with its customers in response to their requests. The growing acceptance of the applications of its products and the increasing adoption of its technology has led to customer requests for assistance in creating automated assembly solutions suitable for attaching the products in a volume sub-assembly manufacturing phase. This is seen as a satisfying indicator of the reliance which customers increasingly place on its technological capability to propose related industrial solutions. Efforts in this regard have been successful and consequently the Company has researched, developed and validated solutions to the challenges. They have comfortably fulfilled customers' requirements and have entitled the Company to seek patent protection for those processes. CURRENT TRADING AND PROSPECTS The Company has put in place all the elements to found a successful development of its technology, including research and development, manufacturing and marketing. The promotion of Pier Antoniucci to Chief Executive Officer has Dr Rocky Arnold, previously CEO of the Company, to focus on driving the group's technical innovation to continue the creation of further products and applications for customers. The acquisition of the initial list of Tier 1 customers by the marketing team augurs well for the adoption of the Company's technology by the electronic manufacturing sector, initially in the US and progressively throughout the world. On Friday 30th July the Company announced its first update on trading since its Admission to AIM in April 2004. Since April 2004, the Company has secured production orders from leading OEMs including Siemens Medical, Sun MicroSystems, OCLI-JVS Uniphase, Bose, Harmonic, Refraction Technologies, B. Braun and others. These orders are for the retrofitting of Form/Met shields to existing devices and for fitting Form/Met shields into new devices. Retrofitting requires the shield to be built and attached within a pre-existing design with little or no room for compromise. These constraints require an efficient method of attaching the shield to the device, most commonly a printed circuit board. In promptly addressing this novel attachment issue, the Company has been successful in developing a proprietary form of electrically conductive adhesive, which has been shown to offer OEMs a simple, cost effective attachment method which provides higher levels of shielding, adhesion and ease of fabrication. The Company has continued to expand its representative network of sales agents to new regions including Los Angeles, Pacific North West, Boston and the Minnesota-Chicago area and estimates completing its network of US representatives within the next three months. Finally, as previously announced, the Company appointed Dr. Pier Antoniucci as Chief Executive Officer on 28th June 2004. He brings with him more than thirty years of technical and business leadership experience in the electrical manufacturing sector. Commenting on these recent developments, Dr. Antoniucci said: "The Company has developed a compelling and increasingly necessary technology. Although I have just joined the Company, I am very excited and impressed by the quality of our customers and the level of market acceptance, which has exceeded my expectations. Being involved in the design process for new devices is obviously very rewarding, but particularly exciting is the demand for retrofitting of existing devices. This demand evidences the shortcomings of traditional solutions and valuably provides us with the opportunity to become familiar with our customers' design processes for future devices. Successfully tackling the attachment concerns of OEMs demonstrates the Company's ability to react quickly to customer needs and produce innovative and effective solutions which enjoy high margins." Successfully addressing the attachment issues referred to above, meant that trading in the first half of the year was behind the Directors expectations, nonetheless the Directors are confident that the lost ground will be made up in the second half. Consequently, cash balances are lower than forecast but, together with the facilities available to the Company, the Company has sufficient working capital to take it through to cash break even. As electronic devices become more complex and miniaturised, and importantly, as traditional shielding methods become prohibitively threatened by onerous and looming regulation, shielding requirements and constraints are becoming elevated to a significant problem which needs to be addressed at the design level. The progressively increasing growth trends in both customer numbers and initial orders during the last eight months have solidified the Board's view that the Company is well placed and well advanced to provide the new and lead solutions which the industry needs. It is optimistic about its ability to continue to gain acceptance and significant sales during the remainder of this year and beyond. CONCLUSION: 'New technology in the right place and at the right time – Block Shield offers early stage opportunity of world-class potential' Block Shield is an exciting new company, possessing patented technology to solve the problem of electronic interference in a better, cheaper and more environmentally acceptable way. It has just started commercialising its technological advantages and is aggressively targeting a huge $2bn plus global market. By 2005, Block Shield expects that 80% of EMI will be 'on the board'. The Company's electronic shielding solutions aid electronics manufacturers in moving the shielding nearer the source of interference. This is an additional overall factor in making Block Shield's technology a compelling choice for the huge global electronics industry. The Company seems destined to capture a commanding share of this market and reckons that market drivers will give it a tail wind over the next few years. Nowhere is this more true than in the field of regulatory compliance where traditional competitors have been disadvantaged and Block Shield offers an elegant solution to new constraints. Block Shield's flotation on AIM has already witnessed a 37% rise in its share-price and this out-performance looks to continue in the future. Based in the United States and led by experienced management with a successful record of developing leading technology into substantial shareholder value, Block Shield today represents an early-stage investment opportunity in a potentially world-class company. We understand that the Company is close to breaking even, certainly before the year end. We consider that the market has yet to recognise the Company's potential, there is massive upside for its shares. We confidently set a six-month Target Price of 150p.
the deal: I shall be placing an order for these in the morning, assuming they're up and running and the price isn't in monopoly money. From Sunday's Independent: "Blakes Clothing, the poorly performing menswear retailer whose shares were suspended last month at 7.75p, will this week make a triumphant return to the stock market at a price expected to be more than 10 times higher. Dealers forecast that when the shares resume trading, probably on Tuesday, they will change hands for as much as 100p. Their performance may even eclipse those of Knutsford, the former leather company whose shares leapt almost 150 per cent on their return from suspension in November. The reason for Blakes' dramatic reversal of fortunes is the intervention of Luke Johnson, the entrepreneur who brought PizzaExpress, the restaurant chain, to market. Mr Johnson has teamed up again with Hugh Osmond, chairman of Punch Taverns, to convert Blakes into E-xentric, a shell company which will become the home of a private internet operation. But even before a suitable online company has been found to reverse into Blakes, their investment is well into profit. A 100p share price would value Mr Johnson's stake at £2.4m and Mr Osmond's at more than £7m. E-xentric's fortunes will depend on the state of the stock market following last week's turbulence. Several quoted online concerns suffered heavy losses last week, although most recovered some ground on Friday. Mr Johnson has already made a small fortune from another internet venture, New Media Spark, while Mr Osmond's greatest coup so far was Punch's acquisition of Allied Domecq's pub estate from under the nose of Whitbread. Although Mr Johnson is not joining the new board, Charles Nasser, founder of Claranet, the internet service provider, and Alan McIntosh, Punch's finance director, will sit alongside Mr Osmond. The management team will be completed by Edward Spencer-Churchill, son of the Duke of Marlborough." rgds trd
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