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Penny Share Review 529

Monday 01 February 2010

The Times on Saturday drew attention to the move by Alltrue Investments (ATR) to put its stockbroker, Montague Pitman, into administration, pointing out that this followed a review by the FSA into its activities relating to higher risk securities. Alltrue shares remain suspended.

The Mail on Sunday pre-empted news from Circle Oil (COP) regarding licenses in Morocco – please see below – going on that this is expected to be followed by an update that the Geyhad-2 well is hooked up to a pipeline and has begun producing. At 32.75p, the shares were 1.00p higher during early trading.

The weekend’s Financial Times pointed out Non Executive Director of Earthport (EPO) and former Tory MP, Lady Olga Maitland’s acquisition of shares in its ‘Directors’ Deals’ section, commenting that at less than £5,000, this was “hardly a show of confidence”. The stock was unchanged at 13.50p earlier today.

Saturday’s Daily Express reported a fall in the share price of Imaginatik (IMTK), despite news of a new contract. There was no change to the price on Monday morning, which remained 5.50p.

“Rumour of the day” in The Times on Saturday featured PetroNeft Resources (PTR), suggesting that the Company would be “worth watching” early this week in anticipation of news regarding the Ledovy license. This duly emerged - please see below – but the shares were 0.25p lower at 21.25p after this.

Plus Markets (PMK) appeared in today’s Independent, which reiterated admission of a difficult 2009, though optimism for the coming year, according to the Company’s head of capital markets. The piece concluded that, “if small caps are the bread and butter of the UK economy, it will be interesting to see how the PLUS market fares this year, as the economy starts to recover”. The shares were unchanged at 5.25p this morning.

The Sunday Telegraph provided coverage of Ten Alps (TAL) and its acquisition of Asian assets from Reed Elsevier – please see below. The article quoted CEO Alex Cannock that this was all part of the plan to roll out its multi-platform offer, though the price was unchanged at 27.50p earlier today.

The Independent on Sunday provided an overview of Toumaz Holdings (TMZ), suggesting that its wireless digital plaster could save medical providers millions of pounds. Detailing the background of co-founder Christofer Toumazou, it concluded that if sales go to plan, the business could well attract some suitors. The price was unchanged at 6.875p.

The prices above were taken at around 10:43am on 1 February 2010.

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.

Carpathian Resources (ASX – CPN): Quarterly Activities Report.

Cinpart (CINP): Memorandum of Understanding with SEC.

Circle Oil (COP): New Moroccan Permits Signed.

EMED Mining (EMED): Quarterly Report.

Empyrean Energy (EME): Sugarloaf Project Update.

Formation Group (FRM): Final Results.

Hartest Holdings (HTH): Extension to PUSU Deadline.

ILX Group (ILX): Notification of Major Interest in Shares.

Mediwatch (MDW): Final Results.

Petra Diamonds (PDL): Appointment of RBC Capital Markets.

Petroneft Resources (PTR): Ledovy License Update.

Renewable Energy Holdings (REH): Carnegie Announcement.

Rheochem (RHEP): Santos Offshore Contract Extension.

Synchronica (SYNC): Trading Statement.

Ten Alps (TAL): Acquisition and Expansion of Multiplatform Model.

Timestrip (TIME): Contract Win – Toothbrush Order.

Twenty (TWE): Acquisition / Issue of Equity.

Look out for this week

Monday, 1 February – Hometrack Monthly National House Prices Survey (January). CIPS Manufacturing PMI (January). Final Results from Formation Group (FRM) and Mediwatch (MDW).

Tuesday, 2 February – CIPS Construction PMI (January).

Wednesday, 3 February – Nationwide Consumer Confidence Index (January). Shop Price Index (January).

Thursday, 4 February – Bank of England UK Interest Rate Decision.

Friday, 5 February – UK Producer Prices (January). Halifax House Price Index (expected around now – January).

Diary items source: Fidessa.

The next Penny Share Review will be posted on Monday, 8 February 2010.

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.