Alphameric signals a bid may be on the way

Shares in bookies technology supplier Alphameric jumped more than 20% after it revealed what it called a "very early stage expression of interest froma third party."

Takeover interest has been mounting in the company as its joint venture to provide television pictures from race course direct to bookmakers shops has gradually begun to be accepted by the industry.

It now supplies more than 8700 shops with its online terminals and software and hardware for them to run their gambling business, while its TV pictures are shown in 95% of bookmakers' outlets.

The TV venture is jointly owned with a number of the country's leading racecourses and has the rights to show races from 32 courses around the country.

Shares in the group, which has been listed on the stock market since 1984 when it was making keyboards for stockbrokers' dealing terminals and the earliest electronic display signs on Tube platforms, rose to a 12 month high of 35p at one point before slipping back slightly to show a rise of 61/4p at 331/2p. That values Alphameric just over £75 million.

The company added: "These discussions are at a preliminary stage and shareholders should be aware that there is no certainty an offer will be forthcoming."