Vocalis slips into the Ninety per cent Club


23-03-2001

Speech recognition company, Vocalis has joined the 'Ninety per cent Club', the term for quoted companies whose shares are currently worth less than a tenth of their peak value.

Vocalis, based at Great Shelford, has seen its share price sink to 54p, compared with 10.57 a year ago.



A spokesman for the company said: 'The Ninety per cent Club was not something we made a conscious effort to join, but it is the way a lot of technology stocks are going at the moment.'



The company issued a losses warning last month, which did not help the share price; but it is business as usual at Shelford, according to the spokesman.



Vocalis employs 100 people and has made no redundancies. Contracts for new business are in the pipeline, although the company said demand has dropped off, especially in the US.



The company was formed in 1993 with funding from Bob Hook of Prelude Trust at Over, and Hermann Hauser, which enabled a buy-out from Logica.