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Penny Share Review 169

Monday 03 February 2003

The Weekend's Comments

In the small cap comment section of the Sunday Telegraph, Alizyme (AZM) receives a 'Buy' recommendation. After raising £15.1m last week in a placing and open offer at 28p, the Group now has sufficient funds to take its three lead products, for colon ulcers, irritable bowel syndrome and obesity into late-stage human trials. The paper goes on to explain that with the looming cash crisis now averted, "the cap on its share price should be lifted". The report, concludes, "Alizyme has a better chance than most biotechs of success". At 9.31, the stock had experienced a 2p rally on Friday's close to 33.5p.

Saturday's Independent briefly comments on the Chairman of Blazepoint (BLA.L), Roger Wadsworth, loaning the Company £800K, which was reported to the market last Friday. The shares remained unchanged this morning at 1.5p.

The Daily Express reports on CEO of Gladstone (GLA), Ben Merrett, snapping up 79,175 shares at 3.5p to increase his holding to 529,737. The shares rose by 0.5p to 4.75p by 10.00 on Monday.

The Sunday Telegraph advises readers to "take a look" at Hereward Ventures (HEV.L), ahead of today's strong set of drilling figures and comments on the link up with Gold Fields, who subscribed for 4.9m shares last year at 7p. Both companies are bidding for some of Navan's Bulgarian assets, which are in the hands of administrators. The paper concludes, "With strong local links, Hereward could be lucky. Buy". The Daily Mail on Saturday also speculates on details of Hereward's next drilling report. At 9.33 this morning, Hereward was up 0.375p at 6.88p on Friday's close.

Osmetech's (OMH) $2.5m net acquisition of Roche's range of blood testing and analysing products is mentioned in several papers. It receives the most coverage in today's Daily Express. The paper reports on the comments by CEO James White, who believes the acquisition will enable the Group to generate $7m in sales in the year, after the deal is completed. The shares had nudged down by 0.34p to 3.00p, at 9.31 on Monday morning from Friday's close.

Today's 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.

Cytomyx (CYH) - Agreement
Hereward Ventures (HEV.L) - Drilling Report.
Hot Group (HOT.L) - Acquisition.
MV Sports (MVS.L) & Tandem Group (TND) - Tandem Offer for MV Sports.

Look Out For This Week

3 Feb - CBI retail survey
4 Feb - Fairplace Consulting results (I)
5 Feb - Nothing of note.
6 Feb - MPC interest rate decision.
7 Feb - Industrial production and in the US, non-farm payrolls.

Compiled by JM Robertson.

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