PACE: PIC a winner for HDTV, IPTV, VOIP, PVR

I would just like to say that I think it is becoming slightly remiss now, out of politeness if not formally, to have not advised shareholders of the position on the half yearly numbers. Ordinarily we would by now be knowingly expecting the results within a certain couple of weeks, this time we have no information at all. It might be reasonable to expect later reporting, and also better then to consolidate guidance for the year end, but leaving shareholders entirely in the dark is not what I for one would expect from the new management and its style.

Whilst on such matters, if I was Pace right now, and if I had been watching the trades and orders over recent months, then I would be analysing changes in the share register presently. I would be the last person to suggest that anything is amiss or even that this would get one very far given the bulk of nominee holdings, and I would also be even less inclined to provoke talk of predators, but beneath the surface I can sense some careful intent on stake building. It is possible that we are just seeing an institutional investor(s) but there has also been a notable absence of declared holdings. It is also that the scale of the larger orders on the buy side of SETS feels disproportionate to normal investor behaviour.

The last thing I want is an opportunistic predator, and this endorses further my appetite for positive news. The story on trading implied by no news, and assuming progress on gross margins, does imply that the share price could be falling behind the development of the business. The Board should ensure that the shareholders as a whole accrue this value in time and not some third party who feels closer to the likely fortunes of the business than is clear from announcements.

I can only conclude that Pace are holding back on news of interim results for good reasons, and that these include offering meaningful visibility for the full year.