NPbet.co.uk

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While having a fairly low Internet bookmaking profile, it looks very much like Durham based “Neville Porter plc” trading online as NPbet have effectively run out money and shut up its online shop.

Since last Friday [11th] a Home Page notice on http://www.npbet.co.uk has stated that……..

DUE TO MAJOR INTERNET SERVER PROBLEMS WHICH WE HOPE WILL SOON BE RESOLVED, WE ARE TEMPORARILY UNABLE TO ACCEPT WAGERS BY INTERNET OR TELEPHONE AT THE MOMENT. WE APOLOGISE FOR ANY INCONVENIENCE AND HOPE TO RESUME OPERATIONS SHORTLY.

However, the Thomson Financial reports service reports today [18th] that…..

LONDON (Thomson Financial) – Neville Porter Plc. said it has requested the suspension of trading of its shares on AIM with immediate effect pending further clarification of the company’s financial position and following continued poor trading conditions.

Prior to the start of the New Year, the Alternative Investment Market [AIM] listed “Neville Porter plc” reportedly raised an additional £350,000 in working capital by means of a leaseback arrangement. Whereby, the company sold to Mr Neville Porter (chairman of the company) a number of UK betting pitches and then leased then back. A further £80,000 was also raised by means of an interest free loan from one named Mr Brian Morton.

It looks very much like that £430,000 didn’t last long enough to turn online things around – though it appears that NPbet’s on course pitches in the UK and Ireland could well be still solvent and holding their own. To the best of my knowledge “Neville Porter plc” do not have any ‘bricks and mortar’ betting shop outlets.

[Wallace]

Not surprised to see this end in tears although it happened much quicker than I expected. The project had more to do with ego building then business building.

[Drone]

On-course they strike me as one of the brighter lights. And good to deal with, so I hope they stay atop their stool.

Course, off-course, internet – similar but different?

[Glenn]

Last matched price for their shares: one tenth of a penny! Braveheart could probably buy a million shares with his last place prize money from last night.

I’d be giving any of these AIM listed companies the body swerve.

[Author]

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