Aeorema Comm. Regulatory News (AEO)

15 Mar 2006 13:02

Addworth PLC15 March 2006 15th March 2006 Addworth Plc Addworth increases stake in Cheerful Scout Plc Addworth Plc, the AIM 'active capital' investor, has today announced thatfollowing recent purchases of 1,450,000 shares its stake in Cheerful Scout Plc,the multi media company, is now up to 10,000,000 shares, representing 4.08% ofthat company's equity. The average purchase cost of this holding is 0.86p per share. For further information Addworth Plc 020 7638 8750Mark Watson-Mitchell, Executive Chairman www.addworth.co.uk Notes to Editors Addworth (ADW), is an 'active capital investor'. Its focus is upon the growth ofcapital value and the generation of fee income from: establishing and fundingnewly quoted companies on both the AIM and OFEX markets; acquiring anddeveloping companies with growth potential; and taking minority equity positionsin undervalued smaller listed companies. Cheerful Scout (CLS), is a video, events and DVD production company that blendscreativity with experience and technological know-how to create solutions whichmake an impact. On 7th March 2006 the Company announced 7 March 2006 its interimresults for the six months ended 31st December 2005, showing turnover more thandoubled to £1,120,320 (2004: £512,343) with pre-tax profits of £73,903 (2004:loss of £133,886) and cash at bank and in hand of £852,030 (2004: £405,463). Onthe same day it also announced that the Cancellation of Share Premium accounteliminated the negative balance on the Revenue Account, paving the way fordividends to be paid from future profits. This information is provided by RNS The company news service from the London Stock Exchange