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Penny Share Review 184
Monday 19 May 2003
Cardpoint (CASH) - Andrew Griffiths, writing in Sunday's The Business, picked up on improvements at Cardpoint, one of the leading independent operators of cash machines on the Link network. The Group's estate has risen to 450 machines (and should reach 600 by the year-end), achieving on average a transaction charge of 160p, without loss of custom. Broker Numis Securities has set a 75p price target and expects profits of £800,000 in the year to September 2004. "Cardpoint looks attractive," said Mr Griffiths, adding that the shares, "should make good progress this year." The stock reacted to the tip and was 1.5p higher at 57.5p at 10:09.
Host Europe (HER) - The bizarre goings-on at Host Europe appear to have reached 'end-game', with the resignations of the majority of the Board coming only a matter of hours before a potentially damaging EGM. Their climb-down included a statement of regret for the airing of matters relating to Chief Executive Abby Hardoon's private life. Now that Mr Hardoon has regained control and installed his new team, he has the job of finding a replacement Nominated Adviser, in order for Host Europe's shares to be re-admitted to AIM. The shares are currently suspended at 1.2p.
Legendary Investments (LEG) - A small note on the recent share price rise in David Shand's summary section of Saturday's Daily Express. Rumours of stakebuilding in Moss Bros by Shami Ahmed pushed their shares higher and Legendary has already been linked to potential reverse takeover activity, however it is not clear whether Mr Ahmed would pursue Moss Bros through Legendary itself, rather a personal route. Legendary's shares were unmoved at 0.79p.
Netcall (NET) - Today's Financial Times got itself ahead of the LSE's Regulatory News Service, by pre-empting an announcement of a contract win with BT for the Company's QueueBuster call centre software (for full announcement follow the instructions below). The shares reacted well to the news and were trading 1p better at 16.5p-mid at 10:08 this morning.
Petrel Resources (PET) - The Sunday Telegraph ran a very interesting article titled, "Where are Iraq's missing oil million?", in which David Horgan, Petrel's Chief Executive, was quoted. The editorial focuses on the UN's Oil for Food programme and investigates claims that billions of dollars that should have paid for aid was actually siphoned back into the hands of Iraqi Ministry officials. Mr Horgan explained that his company had declined an oil lift under the scheme, as "he could not find a legal way of doing the deal." Meanwhile, Petrel hopes that its groundwork before hostilities began will bear fruit with the award of licenses in Iraq's Western Desert. The shares were unchanged at 10.25p today.
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.
Country & Metropolitan (CRY.L) - Board Appointment.
Cytomyx Holdings (CYX) - Interim Results (six-months to 31 March 2003).
Mean Fiddler Music (MEF.L) - New Concerts for Justin Timberlake.
Mice Group (MEG) - Final Results (year ended 28 February 2003).
Netcall (NET) - Contract with BT.
ReNeuron Holdings (REN.L) - Cancellation of Listing following cash offer.
Look Out For This Week
19 May - Mice Group (MEG) Final Results, Cytomyx Holdings (CYX) Interim Results, US leading indicators (April).
20 May - UK RPI (April), RICS monthly housing survey, US weekly retail chain store sales index.
21 May - UK Minutes of MPC May meeting, CML mortgage lending statistics, UK M4 lending (April).
22 May - UK motor vehicle production (April), UK Q1 provisional business investment, UK Retail Sales (April), UK CBI monthly industrial trends.
23 May - UK Q1 GDP 1st revision.
The next Penny Share Review will be posted on Tuesday, 27 May 2003.
Compiled by A Thacker
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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