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Penny Share Review 187

Monday 09 June 2003

Claims People (CLM.L) – The Independent on Saturday wrote that the sector rocked by collapse of Accident Group last week. The stock traded at 2p at 10.42am Monday, and remains unchanged so far today.

Incepta (ITA.L) – The Guardian on Saturday reported that the shares added 1.5p to 15.75p on vague consolidation hopes. Incepta shares rose by 1.25p from last week’s closing price to trade at 17p at 10.42am this morning.

Lupus Capital (LUP) – The Guardian on Saturday wrote that Lupus Capital shares firmed 0.38p to 8p on continued speculation that it has received two offers in the region of £20m for its Gall Environmental subsidiary. Because both offers are conditional, dealers reckon the Company does not have to announce them formally to the stock exchange, even though they suggest that Lupus is undervalued. The stock traded at 8p at 10.42am Monday, and remains unchanged so far today.

Mano River (MANA) – The Daily Mail on Saturday stated that the shares held at 3.38p after a proposed placing of 16m shares to raise £400,000. Two new institutions have come on board and the cash will be used to explore its gold and diamond interests in Sierra Leone. The shares were trading at 3.63p at 10.43am on Monday, indicating a 0.25p rise from Friday’s closing mid-price of 3.38p.

Web-Angel (WEB.L) – FT on Saturday reported that Durlacher’s 1-for-40 share offer for Web-Angel would value the Company at £4m, representing a premium of 313% above Thursday’s closing price of 0.75p. By 10.42am on Monday the shares had advanced by 0.5p to 3.38p, representing a rise of 17% since Friday. (Also in The Independent, The Daily Telegraph, The Guardian and Daily Mail- all on Saturday.)

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.

Osmetech (OMH.L) – Change of registered office address.
Billam (BLLM.L) – Preliminary results.

Look Out For This Week

June 09, Monday- UK: Gordon Brown announces Euro entry decision, producer price inflation (May), manufacturing output (Apr).
June 10, Tuesday- UK: Trade in goods and services (Apr).
June 11, Wednesday- UK: unemployment (May), US: Federal Reserve Beige Book.
June 12, Thursday- UK: ECB- Monthly Bulletin. US: weekly jobless claims, retail sales (May), business inventories (Apr).
June 13, Friday- US: producer price inflation (May), international trade (Apr).

The next Penny Share Review will be posted on Monday, 16 June 2003.

Compiled by O McCann

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