Sanderson rises

(By Richard Holway 9.00am Wednesday 5th Aug 09) Let me admit right from start that I am a shareholder in Sanderson. This really arose because of a long friendship with Chris Winn (we are both Archers addicts..) and predates the £114.5m Dec 1999 Alchemy deal with the 'old' Sanderson which later saw its various bits spinout into such entities as Civica, Talgentra, Tallyman ...and the 'new' Sanderson.

But the shareholding has not been one of Holway's best. Indeed it has plummeted from its 50p AIM IPO price in late 2004 to just 7p a few days ago as it fell into loss. See our 30th June report - Sanderson - What a difference a year makes. Conversely, I can report a 100% rise in Sanderson shares in the last few days! This is all because they announced that they had finalised new banking arrangements with RBS in the form of a new term debt facility agreement extending the term to June 2014.

I still think that Sanderson will become someone elses consolidation play. Just hope the price recovers a bit before then!