24 Jul 2006 11:05
Addworth PLC24 July 2006 24th July 2006Addworth Plc 24th July 2006 Addworth Plc Starvest Plc increases stake in Addworth Plc Addworth Plc, the AIM 'active capital' investor, announces that on 20th July2006 Starvest Plc acquired a further 2,670,000 shares in the Company. Thatpurchase increased its stake in the Company to 10,670,000 shares, representing16.41% of the Addworth Plc equity. For further information Addworth Plc 020 7638 8750Mark Watson-Mitchell, Executive Chairman www.addworth.co.uk Notes to Editors Addworth (ADW), is as an 'active capital investor'. Its focus is upon the growthof capital 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. Starvest (SVE), since January 2002, the business of Starvest has been to investin small company new issues and to trade in pre-IPO stocks. The business ismanaged by Bruce Rowan, Chairman and CEO. During the last four and a half years, Bruce Rowan has taken Starvest from beinga dot.com heading for liquidation with a mere £400,000 of cash to a successfulinvestment business with a declared portfolio value net of borrowings of £17.7m. Allowing for new cash raised, the total return during this period has been over1000%. This information is provided by RNS The company news service from the London Stock Exchange