Telecom Plus, offering a cheap service to 6,000 customers, got its wires crossed, collapsing 33p to 17.5p on Ofex.
A new major shareholder and chairman failed to offset the shock of a cash raising exercise and mandatory 5p-a-share bid. New chairman, with a 51 per cent, is Charles Wigoder, founder of Peoples Phone, taken over by Vodafone for pounds 77m.
Sock maker Pex is said to be planning a 3p rights issue. The shares held at 3.25p.
Although interim figures were higher, year's out-turn is expected to be disappointing following poor sales in October and November.Reuse content