Forum Archive Index - April 2000

["malcolm coleman" <malcolmcoleman@hotmail.com>]

With regard to Qixel, I find it very strange that a company called 
Strathmore, chaired by Phil Norman and 18.5% owned by Advantage, seems to 
have become a forgotten flower at the back of the Advantage garden. I quote 
a news item from December 1999:

"DECEMBER 13, 1999  GROUP'S CAPITAL VENTURE
ADVANTAGE Group decided to enter the venture capital market when they 
committed 10 per cent of the group's assets to an 18.5 per cent stake in 
Strathmore Group.  Chairman Evan Christian plans to use Strathmore - a 
venture capital company for Internet, e-commerce and IT startups - to 
develop businesses that will increase Advantage Group's future earnings. As 
well as finance, Strathmore will offer strategic advice and a network of 
relationships to help leverage IT fledglings into offshore markets.  Plans 
by Strathmore's board to raise $8 million through rights issues have left 
the venture capital company with $10 million to invest in high growth 
Internet and technology businesses.  Advantage Group chief executive Greg 
Cross says the strategic value the Strathmore Group offers Advantage means 
looking well beyond short-term profit.
"Longer term, it means a greater stake in companies that can capitalise on 
the Internet commerce wave. Strathmore is in the prime position to tap into 
the technology sector that has a life of its own outside the general 
economy."  END

I pretty obviously own shares in Strathmore.  This latest announcement  
makes me yet more dismayed at the apparent distancing of Advantage  from 
this company. Are Messrs Cross, Watson and Norman et al. milking just a 
little too much from any 'udder' Dot.com cow they can think of? I have been 
following several venture capital stocks in the UK (10 Group (TGR), Talisman 
(THS) and Durlacher (DUC) ) and believe me they are stopped in their tracks 
at present. I hope Qixel doesn't live up to its word-play equivalent, 'Quick 
Sell'.
M Coleman

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