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Penny Share Review 194

Monday 28 July 2003

The Sunday Express reported on the new focus at Europasia Education (EPE.L), which was born out of the old Internet investment vehicle, Start-IT. The Group's new strategy is the provision of fee-paying prep schools, language schools and corporate training centres in the UK, China, Hong Kong and Pakistan, with the vision of offering western-style education in the developed world. The shares remained unchanged this morning at 1.50p.

Both the Daily Express and Independent on Saturday briefly commented on the previous day's final results announcement from Gaming King (GGK). The Express believed Friday's quarter of a pence rise was due to talk of further contracts. Shares in the Company were unchanged this morning at 2.13p.

The Daily Express from Saturday believed shares in GB Group (GBG) rose by 1.75p on Friday due to "gossip that a positive trading update was on the way". The stock continued to advance, with a rise of 2.00p to 23.75p this morning.

The Times on Saturday, commented that Griffin Mining (GFM) held steady at 14.5p, "despite whispers of an upbeat announcement" early this week. On Monday morning, the shares nudged up 0.25p to 14.75p.

The 'Small Cap Comment' section of the Sunday Telegraph, recommended Hot Group (HOT.L) as a 'Buy' at 16.5p, ahead of today's announcements of the £5.5m acquisition of Parkside Recruitment and £10.2m fund raising through an Open Offer and Placing at 12p. The paper comments that although the Company is loss making, it is "heading towards breakeven". Hot Group shares moved 1.50p higher to 18.00p on Monday morning.

A brief mention was given in Saturday's Independent of Iomart Group's (IOM) acquisition of Web Genie Internet for £437,000. The shares rose by 18% (3.25p) to 20.75p on Monday morning.

Ahead of today's announcement, The Mail on Sunday reported on Interactive Digital Solutions (IGL) £3m contract gain to supply 25,000 new homes in Malaga with communication and entertainment systems over two years. The stock increased by 1.25p this morning to 4.00p.

Andrew Hore, writing in The Business, reckoned Toad (TOA.L) is 'Good Value'. The Group is adding new services for insurance companies, such as repairing or replacing cameras or computers. Andrew also identified the installation of hands-free mobile phone kits in cars, as another potential growth area. Full year pre-tax forecasts (before amortisation) have been increased from £0.95m to £1.2m, putting the stock on a p/e of 9 for this year and forecast p/e of 6 for next year. On Monday morning, Toad shares edged 0.88p higher to 16.13p.

(NB: Monday morning prices were taken at the time of going to press, at 10.20am)

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.

Cybit Holdings (CYH.L) - AGM statement.
EnnEurope (ENU.L) - Offer update.
Hot Group (HOT.L) - Parkside acquisition and fund raising.
Interactive Digital Solutions (IGL) - £3m contract win.
Iomart Group (IOM) - Director dealing.

Look Out For This Week

July 28, Monday - Nothing of note.
July 29, Tuesday - UK consumer credit.
July 30, Wednesday - Osmetech final results, IDN Telecom interim
results and Gfk consumer confidence.
July 31, Thursday - Nothing of note.
August 1, Friday - UK manufacturing PMI.

The next Penny Share Review will be posted on Monday, 4 August 2003.

Compiled by J Robertson

Penny Shares Online - penny shares research and information service.