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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Morson - Framework agreements underpin white collar recruiter

April 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Morson, a leading provider of skilled white collar personnel toindustries such as aerospace & defence, power and rail is likely toenjoy a successful debut when it floats on AIM on 30 March. Thanks toits use of multi year framework agreements with key customers, Morsonhas a strong financial record and has seen sales growing every yearsince 1999 while operating profit has increased from £4.6m to £6.9m. Asa result, we expect strong institutional interest in the fund-raisingin which Morson hopes to raise £35m net of expenses via a placing ofnew shares in order to reduce gearing and provide firepower to furthergrow the business, both organically and through acquisitions. BrewinDolphin is acting as Morson’s broker. Market value is exp ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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