Market Report: Taking Stock

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The Independent Online
Carlisle, a long standing reverse takeover candidate, firmed to 12p as stories strengthened it could be the vehicle for the return of Michael Ashcroft, a controversial businessman who netted pounds 154m when his ADT security group was taken over. Dev Pritchard, founder of the Takare nursing homes chain, is said to be prepared to sell his 29 per Carlisle cent stake. Mr Ashcroft could be working with Tony Berry, ex-Blue Arrow, to reverse a recruitment business into Carlisle where entrepreneur Nigel Wray is chairman.

Intriguing developments at Farlake, the fund manager which has attracted two new shareholders. With EMS Capital sitting on 25.47 per cent and Derwent, thought to be related to Monaco-based David Rowland, on 14.89 per cent, the Eaglet small company investment trust disclosed it had lifted its interest to 27.12 per cent. There is talk Derwent wants to go 29 per cent. Farlake, with pounds 2m cash, is capitalised at pounds 6m at 255p.

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