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Penny Share Review 129

Monday 22 April 2002

The Weekend's Comments

Electric Word (ELE) gets a small mention in Saturday's Independent. Gossip has it that the Company is in the process of launching a significant number of newsletters for the educational sector, its biggest market. At 11.08 the shares were 4.5p, unchanged from Friday's close.

The Sunday Express, commenting on the success of recent new issues, notes that Leisure Ventures (LSV.L) "has enjoyed a lot of interest." Although it singles out Michael Edelson as one of the backers, he is just one of many interested parties in a Company that is headed by Harry Coe, an experienced operator in the travel business. Leisure Ventures is seeking to make an acquisition in the leisure industry, a market that is attracting interest from major firms. The shares were trading at 8.125p at 11.09, unchanged from Friday's close.

The broker buys section of The Daily Mail from Saturday offers encouragement for investors in Mears Group (MER). Old Mutual Securities rates it as a buy at 97p as it has a proven capability of generating strong cash and profit growth. The shares were unchanged at 11.09 from Friday's close of 95.5p.

Propan Homes (PPH.L) receives the attention of the market commentators of Saturday's Independent and Daily Express. News that two major shareholders had sold 6 million shares at 12.25p to ease liquidity problems caused the shares to edge up. Interestingly, Nigel Wray, an investor involved in property developer Burford Group, bought 3 million shares or a 4.9% stake in the Company at the same time. At 11.09 the shares were 18p, unchanged from Friday's close.

The Financial Mail on Sunday reports on one of the unusual legacies of the dot-com bubble as it identifies twelve "former technology high-flyers" that have "stock market values that are less than their bank balances." One such undervalued company is Protagona (PTG) as its discount to cash is reported as being 13%. The Mail also reports that Protagona is expecting trading in the last six months to be in line with forecasts and would end its first half with £14million in cash. The shares were unchanged at 11.09 from Friday's close of 2.375p.

This Mornings 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.

Offshore Telecom (OST.L) - Preliminary Full Year Results and Board appointments
Symphony Plastic Technologies (SYM) - Date of results
Tandem Group (TND) - Preliminary Full Year Results

Look Out For This Week

22 April -
23 April -
24 April - Maverick Entertainment Group full year results
25 April - UK Retail Sales (Mar)
26 April - Gladstone interims, Fortune Oil full year results (expected), UK GDP (Q1 estimate), UK mortgage lending

Compiled by Andrew McLintock



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