Nettec investors demand payout

CORPORATE website designer and operator Nettec is facing investor pressure to return most of its cash pile to shareholders. The firm has £16.1m in cash and assets, compared with a market value of £9.2m.

Issuing its annual results last week, the company said: 'Your board is aware of the group's significant cash balance and will continue to look at ways to maximise shareholder value.'

Some shareholders believe Nettec, which is expected to start moving into profit next year, should return the cash and believe they have the support to force the issue at a special meeting if necessary. An immediate cash return by Nettec seems unlikely since some assets, such as surplus property, could take time to sell.