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Penny Share Review 469
Monday 01 December 2008
The weekend’s FT highlighted suspension of Legendary Investments (LEG), after the Company announced it might not be able to access the bulk of its cash reserves, following the collapse of its broker Echelon Wealth Management. The piece quoted last week’s statement, “There can be no certainty as to the timing of recovery or amount recoverable of the company’s funds”, whilst Saturday’s Times noted KPMG had been called in as Liquidators for Echelon and it is still unclear why it failed. Shares in Legendary remain suspended.
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.
Albidon (ALD): Managing Director Resignation and Issue of Shares.
Cantono (CTNO): Final Results.
EMED Mining (EMED): Update on Gold Exploration in Slovakia.
Essentially Group (ESN): Trading Update.
Imaginatik (IMTK): Director’s disclosure Update.
Infonic (IFNC): Geo-Replicator Contract Win.
Intelligent Environments (IEN): Directorate Change.
Mincorp (MOP): Final Results.
Nighthawk Energy (HAWK): Holdings in Company.
Renewable Energy (REH): Polish Wind Farm Agreement.
Scotty Group (SCO): Contract Wins.
Seeing Machines (SEE): Change of Registered Office.
VYKE Communications (VYKE): Distribution Agreement.
Look out for this week
Monday, 1 December – Results from Cantono (CTNO) and Mincorp (MOP). Manufacturing PMI.
Tuesday, 2 December – Construction PMI.
Wednesday, 3 December – Nationwide Consumer Confidence Index. BRC Shop Price Index.
Thursday, 4 December – Bank of England Interest Rate Decision.
Friday, 5 December – Results from Oxus Gold (OXS).
The next Penny Share Review will be posted on Monday, 8 December 2008.
Compiled by Chris Richards.
Penny Shares Online - penny shares research and information service.
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.
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