Publicly-listed trading software firms have seen some
interesting share activity in recent weeks, prompting renewed
speculation on the much-predicted but slow to materialise
consolidation in the sector.
Patsystems is in the process of completing its scheme of
arrangement, returning approximately £9.9m of its cash
pile to shareholders. The Pats share-price plummeted,
reflecting the 7.5p per share payout, despite having only risen
4p when the plan to return cash was announced last year. Shares
were trading below 5p at press time, compared with 8p before
the scheme was announced. Prior to the scheme, the firm was the
centre of speculation regarding a possible takeover, with the
surplus cash-pile being one of the key attractions to potential
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