Aeorema Comm. Regulatory News (AEO)

16 Aug 2006 11:51

Addworth PLC16 August 2006 16th August 2006Addworth Plc 16th August 2006 Addworth Plc Addworth increases stake in Cheerful Scout Plc Addworth Plc, the AIM 'active capital' investor, has today announced thatfollowing recent purchases of 2,000,000 shares its stake in Cheerful Scout Plc,the multi media company, is now up to 12,000,000 shares, representing 4.89% ofthat company's equity. 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 its interim results forthe six months ended 31st December 2005, showing turnover more than doubled 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). On the sameday it also announced that the Cancellation of Share Premium account eliminatedthe negative balance on the Revenue Account, paving the way for dividends to bepaid from future profits. Since March the company has announced a number ofsignificant contract wins. This information is provided by RNS The company news service from the London Stock Exchange