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Penny Share Review 130

Monday 29 April 2002

The Weekend's Comments

The Independent from Saturday notes that shares in Gladstone (GLD) were off 3.5p to 8.5p, following Friday's announcement that it was planning to move from the main list to AIM. At 12.20 the shares were unchanged from Friday's close.

Leisure Ventures (LSV.L), according to The Sunday Telegraph, was on the verge of completing its first acquisition. The newspaper advised investors to buy in ahead of any deal but they were given little chance as the Company announced this morning that it had entered into negotiations to buy The International Academy, a specialist leisure company providing holidays combined with sports training (See the link to the announcement for more detail). Trading in the shares was suspended on news of the acquisition.

The Daily Express from Saturday comments that shares in Miller Fisher (MFG.L) moved up on a positive trading statement from Friday. The Times from Saturday has a similar report. The shares were up 0.25p to 3.625p at 12.21 from Friday's close of 3.375p.

Shares in Surgical Innovations (SUN) rose 1p to 3.75p on news that "it was well placed for a substantial spending programme", The Daily Express reported on Saturday. The Independent from Saturday also comments on Friday's bullish trading statement. At 12.21 the shares were down 0.5p to 3.25p from Friday's closing price of 3.625p.

Tandem (TND) received a positive write-up in Saturday's Independent. The shares are "worth tucking into the saddle-bag" as the strategy of diversifying into golf and snooker looks like it is beginning to pay-off, according to the report. At 12.21 the shares were unchanged at 5p from Friday's close.

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.

Birchin International (BIR.L) - Acquisition and relisting.
Fairplace Consulting (FCO.L) - Joint venture with The Pronet Academy.
Leisure Ventures (LSV.L) - Acquisition announcement.
MediWatch (MDW) - new product launch.
Mice Group (MEG) - Preliminary results for the fourteen months to 28 February 2002.
Northern Petroleum (NOP) - Acquisition, Italian licence award and appointment of new director.
Virotec International (VTI) - Quarterly cash flow report.

Look Out For This Week

29 April - Mice full year results
30 April - Eurozone unemployment and inflation (March)
1 May -
2 May - European Central Bank interest rate announcement
3 May - Eurozone business and consumer confidence (April), US non-farm payrolls (April)

Compiled by Andrew McLintock



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