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Penny Share Review 198

Tuesday 26 August 2003

Upbeat comments from Intel, the US microchip giant, helped to boost the shares in Bede (BED), according to Saturday's Daily Express. Intel raised its third-quarter revenue and profit margin forecasts above analysts expectations amid hopes that an upturn in IT spending is underway. The shares were ahead by 5.25p to 32.5p from Friday's close at 11.06.

The Weekend FT reported on the most recent fundraising by The Claims People Group plc (CLM.L). A Placing of 25.1m shares at 1.5p, which was announced on Friday, raised £372,600 (before expenses). The proceeds, the paper added, are to be used for expansion through acquisition and to provide working capital. At 11.10 the shares were down from Friday's close by 0.13p to 1.75p.

GB Group's (GBG) contract win from Directory Enquiries featured in Saturday's Independent. The three-year deal is worth £500,000 and the Company is providing a tailored version of its GB Accelerator product to capitalise from opportunities arising from the recent deregulation of directory enquiries. This follows very closely on the heels of news that CPP Group plc, a firm that provides assistance products, including those associated with debit/credit cards, mobile telephones, keys and home emergency repairs, had extended its contract with the Company for a further twelve-months generating revenue of £400,000. The shares were off by 1p at 22.5p from Friday's close at 11.07.

Motion Media (MMD.L) receives some attention from Saturday's Independent and Daily Mail on the back of long-time supporter and shareholder Colin Blackbourne raising his stake to 15m shares. The Independent points to Cisco's interest and adds that IBM, BT and others are testing the Company's versatile IP videophone and concludes, "A speculation on further recovery could be rewarding." The interest in MMD appears to be continuing as the shares at 11.07 had gained another 2.75p from Friday's close and were trading at 16p.

Staffing Ventures (STF) gets a brief mention in Saturday's Daily Express. Rumours that a deal that will transform the Company "had punters piling into the recruitment outfit" the tabloid noted. At 11.09 the shares were up by 1.5p to 36p from Friday's close.

Toad's (TOA.L) recent price move was put down to speculation that the group would use its technology for mobile phones, according to Saturday's Daily Telegraph. It added that volumes were heavy again with 3.5m shares traded. At 11.06 the shares were unchanged from Friday's close.

The Guardian on Saturday picked up on the news that TransEDA (TRA.L) had agreed to sell the business to Valiosys for £1.15m. The paper quoted from Friday's announcement that the price accepted was "mindful of current trading conditions and the cash balances available to the Company." This effectively leaves TransEDA as a cash shell, a point noted by Saturday's Daily Express. The shares were down 0.13p to 1.13p from Friday's close at 11.10.

Saturday's Daily Telegraph commented on "traders' talk" that Virotec International (VTI) is about to sign a new contract. This may be what is fuelling this morning's interest, as the shares at 11.08 were ahead by 1.25p to 15.88p from the close of business on Friday.

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.

Axiomlab plc (AXM) - Temporary Suspension.
EnnEurope (ENU.L) - Offer Update.
Mears Group (MER) - Acquisition.
Oxus Gold plc (OXS) - Mining update.
Parallel Media Group (PAA) - Proposed Subscription.
Proactive Sports Group (PAS.L) - Cancellation of Shares.
Symphony Plastic Technologies (SYM) - Distribution Agreement.

Look Out This Week For

Aug 26, Tuesday - US consumer confidence.
Aug 27, Wednesday - None scheduled.
Aug 28, Thursday - UK consumer confidence, BBA mortgage lending data (August), US GDP (Q2).
Aug 29, Friday - Eurozone inflation.

The next Penny Share Review will be posted on Monday, 1 September 2003.

Compiled by A. McLintock

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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