Investment

4 Jan 2006 07:00

Addworth PLC04 January 2006 4th January 2006Addworth Plc 4th January 2006 Addworth Plc Addworth takes stake in Cheerful Scout Plc Addworth Plc, the AIM 'active capital' investor, has today announced thatfollowing the purchase of 2,000,000 shares @ 1p per share on Thursday 29thDecember 2005, its stake in Cheerful Scout Plc, the multi media company, is nowup to 7,400,000 shares, representing 3.02% of that company's equity. The average purchase cost of this holding is 0.74p per share. 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. 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. At its AGM, held on 22nd December 2005, Chairman Stuart Appleton made thefollowing statement: "2005 has been an exciting year for the Company during which the business hasmoved forward considerably. Our core divisions - producing DVD's for the retailsector and corporate programmes for blue-chip clients - continue to perform wellwith a number of new contract wins and a healthy pipeline of projects for 2006.Additionally, our new nVision technology products are creating a stir in themarket and we have recently managed a number of high profile events usingnVision Presenter. As a consequence we expect turnover in the current year to bematerially ahead of last year's total." This information is provided by RNS The company news service from the London Stock Exchange