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Penny Share Review 447

Monday 30 June 2008

The Daily Mail on Saturday included Galleon Holdings (GON), remarking that the shares had increased after the Company reported maiden interim pre-tax profits and a good start to the second half. There was no further increase during Monday morning’s trading though, where the price remained 21.75p.

In the Save & Spend section of Saturday's The Independent, the faint hearted were warned off shares in Red24 (REDT), the former Arc Risk Management. Nevertheless, the advice to existing investors was to hold, as the Group is "limping towards profitability and there are signs that Red24 is emerging as a serious option." Indeed, the Chairman believes that the shares justify a better rating and to trade on 10-times earnings would be reasonable, but this is rendered largely irrelevant given that the business is currently loss-making. This rather curious reporting seems only to have been read by the faint hearted, then, as the stock was motionless at 3.5p this morning.

Following continued fall in the Company’s shares, Tanfield Group (TAN) rather unsurprisingly attracted several column inches from the weekend’s press. The Daily Telegraph on Saturday featured the headline “Tanfield Sparks panic”, under which it commented that the stock had slumped to a two-year low, due to investors’ jitters brought on by US rival Oshkosh’s profits warning last week. It went on to cite fears that the Company may unveil its own profits warning and news of 130 planned redundancies at its County Durham engineering plant, as well as concerns about poor disclosure and high levels of spending. Meanwhile, Saturday’s Times reported that the fall had prompted talk of a Financial Services Authority investigation and the Daily Express, also on Saturday, noted that the business had failed to reassure investors in its statement in relation to the share price movement. Monday morning’s trading saw some upturn in the stock, which recovered 3.50p to reach 32.50p.

Prices above were taken at around 10:46am on Monday, 30 June 2008.

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.

1PM (OPM): Final Results.

Braemar Group (BRG): Director Shareholding.

CareCapital Group (CARE): Annual Report and Accounts.

Central China Goldfields (GGG): DMH Drilling Results.

DawMed Systems (DSY): Interim Results.

DDD Group (DDD): Annual Report and Accounts.

Delling Group (DLG): Final Results.

FfastFill (FFA): Contracts with JP Morgan.

Glen Group (GLN): Acquisition.

Image Scan Holdings (IGE): Collaboration with British Transport Police.

Intellego Holdings (IHP): Final Results.

Irvine Energy (IVE): Publication of Annual Report and Accounts.

Northern Petroleum (NOP): AGM Statement.

Ovidia Investments (OVD): Suspension of Trading.

PSG Solutions (PGS): Final Results.

Red Leopard Holdings (RLH): Annual Report and Accounts.

Sefton Resources (SER): Operations Update and Equity Dealings.

Servoca (SVCA): Interim Results.

Tepnel Life Sciences (TED): Holdings in Company.

Toledo Mining Corporation (TMC): Appointments and resignations of Non-Executive.

ValiRx (VAL): Final Results.

Van Dieman Mines (VDM): Strategic Investor Provides Loan Facility.

Vision Media Group (VMG): Preliminary Results.

Vivomedica (VVM): Collaboration.

VYKE Communications (VYKE): Posting of Accounts.

Look out for this week

Monday, 30 June – Cagney (GGNY) AGM. BSA Mortgage Lending Data (May). UK Index of Services (April).

Tuesday, 1 July – Kiotech International (KIO) AGM. Nationwide House Price Survey (June).

Wednesday, 2 July – Results from CybIT Holdings (CYH). Venue Solutions (VSH) AGM. Bank of England Housing Equity Withdrawal.

Thursday, 3 July – Bank of England Credit Conditions Survey (Q2). UK Services Sector PMI (June).

Friday, 4 July – Nothing of note.

The next Penny Share Review will be posted on Monday, 7 July 2008.

Compiled by Chris Richards.

Penny Shares Online - penny shares research and information service.




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, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.