Faith can move markets… Acorn Computer Group Plc shares soared 13 pence to 54.5 pence – a 31% advance – on the news that its 49%-owned affiliate Advanced RISC Machines Ltd designed the chip around which the 3DO Inc Interactive Multiplayer is designed (CI No 2,082): Acorn shares were just 6 pence back in February […]
Faith can move markets… Acorn Computer Group Plc shares soared 13 pence to 54.5 pence – a 31% advance – on the news that its 49%-owned affiliate Advanced RISC Machines Ltd designed the chip around which the 3DO Inc Interactive Multiplayer is designed (CI No 2,082): Acorn shares were just 6 pence back in February and at this rate, they will soon be sufficiently weighty to make it worthwhile for 89% shareholder Ing C Olivetti & Co SpA to put a few more shares out in the market and make an honest company of it – for years, Acorn has retained its London quotation only by special dispensation from the Stock Exchange after a series of rescues in the mid-1980s left the Italian company with most of the shares; the rules say that at least 10% of the equity must be tradable for a quotation on the Unlisted Securities Market, 25% for the Full List, and at times, insiders have held over 90% of the shares at times.
