Lessons to be learned fromsplit caps

Splits have had a poor press recently and some of it has been well justified. A number of splits are looking into the abyss and some, like Framlington NetNet and European Technology, have already plunged. But what have been the main causes of the problems in the sector and what lessons can be learned for the future? These are the main issues on which we will be concentrating in this article. To answer these questions and get a real understanding of the issues, it is important to know a little of the history behind splits and the rationale behind some of the structures today. Splits ...