Bought at: 82p (December 2009)
Sold at: 165p (December 2010)
VELOSI WAS A VERY interesting company that was only listed on the London Stock Exchange AIM market in 2006, as part of the oil equipment, services and distributors sector.
It was a provider of asset integrity, quality assurance, quality control, engineering and HSE services to major national and multinational oil and gas companies. As I understood it Velosi would check oil rigs on an annual basis to see if they were ‘fit for purpose’.
This created a recurring revenue stream – always good news. Meanwhile ever-increasing health and safety legislation meant an ever-increasing market for Velosi. The company was also in a very fortunate position in ...