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Penny Share Review 171

Monday 17 February 2003

The Sunday Telegraph reports that RenEuron (REN.L) has "received a number of informal approaches that could lead to a merger or takeover of the business". The paper identified CellFactors, a privately owned UK business and the US firm, Geron Corporation as potential suitors. Although, the chances of success in RenEuron's field of stem cell technology are described as "slim", the article concludes by saying the shares are "worth holding on to" in the "short term given the prospect of a bid". On Monday morning, in a brief statement, the Group confirmed that it had "received an approach and is in discussions which may or may not lead to an offer for the Company". Shares in the Company, staged a strong rally on Monday morning, moving up 1.50p on last week's closing price, to 5.75p, representing a gain of 31%.

Ahead of today's announcement, the Sunday Telegraph reports on Eurasia Mining (EUA) securing a gold development project in Russia, with a local partner. The paper says how it is unusual for a Company such as Eurasia, to be able to buy into such a well developed project. Prospects look good at Eurasia, we learn due to the high price of platinum at the moment. The article concludes with the comment, "Mining stocks are never a safe bet, but this one is worth a punt". At 10.28, the stock had ticked up half a penny on Friday's close to 7.00p.

The Daily Express on Saturday, briefly mentions Friday's 0.63p rise to 3.25p of shares in Mediwatch (MDW), after the announcement last week of a supply deal with US urological equipment supplier, CR Bard. The shares remained unchanged at 3.25p on Monday morning.

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.

Eurasia Mining (EUA) - Gold exploration deal.
Incepta Group (ITA.L) - Trading Statement.
Proactive Sports (PAS.L) - Trading Update.
ReNeuron Holdings (REN.L) - Statement re press speculation.
SectorGuard (SGD.L) - Placing.

Look Out For This Week

17 Feb - No data scheduled.
18 Feb - Inflation figures for January.
19 Feb - Electric Word - Final results, Bank of England MPC minutes.
20 Feb - Retail Sales (Jan), M4 lending (Jan), CBI monthly industrial trends
survey and CBI economic forecast.
21 Feb - No data scheduled.

Compiled by J Robertson

Penny Shares Online - penny shares research and information service.




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.

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