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Penny Share Review 282

18 April 2005

Press

The Mail on Sunday featured Cardpoint (CASH) in an article, which concluded that things seem ‘to be moving in the right direction.’ A ‘Buy’ recommendation was made and the piece suggested that the Company might well end up in the hands of an American player. The share price enjoyed a 0.50p increase following positive coverage to 133.50p this morning.

The Independent on Saturday noted improvement in the share price of Bits Corp (BIT.L) and attributed this to a deal with Namco to develop a video game. Nevertheless, Monday morning’s trading saw the price 0.63p worse at 7.00p.

An article in The Mail on Sunday followed the endeavours of David Page and Clerkenwell Ventures (CRK). The piece reported on the brands that are targeting a middle class – middle spend consumer and explained that institutions are buying into his strategy. The shares saw no movement at 7.75p this morning.

A price slip for Ennstone (ENN) was pinned on Arlington Group’s disposal of 9.39m shares following the exercise of a put option, according to The Times on Saturday. This has led to an increased stake in Enneurope (ENU.L) to 79%, which has triggered a mandatory offer (see announcement below). Ennstone’s shares remained unchanged at 41.25p this morning, as do Enneurope’s at 17.0p.

This weekend’s Financial Times provided commentary on the progress of Emerald Energy (EEN). The article reported an increase in pre-tax profits and indicated that the Company’s future focus is on South America and the former Soviet Union. Regardless of positive figures, the share price fell 2.50p to 177.50p this morning.

Eurasia Mining (EUA) featured in the Express on Saturday, which commented that the shares remained unchanged regardless of news of an exploration alliance with AngloGold, however, an increase of 0.13p to 7.00p was seen in this morning’s trading.

An improvement in the share price of Gaming Corporation (GMC.L) was attributed to institutional interest in the stock from the like of Fidelity, Gartmore and Jupiter in Saturday’s Daily Telegraph. No change was seen this morning, as the shares remained at 13.50p.

Goldstone Resources (GRL) featured in this weekend’s Financial Times in an article, which reported an increase in the share price following encouraging test results from operations in Guyana. The piece also commented that momentum was assisted by rumours that the Company are in the final stages of negotiations with ‘major player’ in the alumina industry. Trading this morning, however, saw the price unchanged at13.50p.

Disappointing revenues following an inability to close various ongoing deals led to a drop in the share price of shares in Lombard Risk Management (LRM), according to Saturday’s Guardian. The price remained unchanged this morning at 7.75p regardless of this negative coverage.

Saturday’s Daily Telegraph noted a rise in price for Oxford BioMedica (OXB) following recent bid talks. However, this morning’s trading saw the shares come off by 1.25p to 26.75p.

The Independent on Saturday listed a ‘Buy’ recommendation for Pipex Communications (PXC.L), as there is more to the Company than its broadband offerings. This morning trading saw a price slip of 0.50p to 7.38p.

An article in The Independent on Saturday provided an update on recent developments regarding the admission of cash shell companies onto Offex, following a tightening of AIM’s rules. The article suggested that Plus Markets (PMK) could stand to capitalise on these changes, however, the shares remained unchanged at 7.00p this morning.

Saturday’s Independent suggested that MRSA claims, highlighted throughout the election campaign, have indicated the potential for experimental drugs being pioneered by ReGen Therapeutics (RGT). The shares were down 0.10p at 1.55p this morning.

The Express on Saturday commented on rumours that Screen FX (SFX) is seeking more cash from investors, which created downward pressure on the share price. Monday morning’s trading saw the shares down a further 0.50p at 6.50p.

Monday morning prices above were taken near to 11.00 on 18th April 2005.

Announcements

The following companies, in which City Equities customers may have an interest, released announcements to the market this morning. These can be found by entering the relevant company name or ticker code in the search box on this site.

ADDleisure (ADE): Interim Results.

Ennstone (ENN): Put option exercise.

Eurasia Mining (EUA): Alliance with AngloGold.

Europa Oil & Gas (EOG): Interim Results.

Mano River Resources (MANA): Placement.

Minco (MIO): Operating License.

Screen FX (SFX): Dip on cash-call worries.

Timestrip (TIME): Launch with Crown.

Look out for this week

Monday 18th April – Eurozone Inflation Data.

Tuesday 19th April – The Royal Institute of Chartered Surveyors house price survey and UK consumer Price Index.

Wednesday 20th April – British Bankers Association mortgage lending data and US consumer price index.

Thursday 21st April – UK Retail Sales.

Friday 22nd April – UK GDP estimates.

The next Penny Share Review will be posted on Monday, 25th April 2005.

Compiled by Chris Richards.




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddesdon, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.