UK information company, On Demand Information Plc shocked shareholders by saying that losses for the year to July would not top 2.9m British pounds – but that number compares with the 1.5m pounds the market predicted and shares fell 32 pence to 110 pence on Tuesday and another 20 pence to 90 pence, a slide not calculated to settle the tempers of those that subscribed to the May rights issue at 180 pence a share. The company blames the costs of developing a new Internet product and the fact that a marketing tie-up with British Telecommunications Plc was proving disappointing.
