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Penny Share Review 201

Monday 15 September 2003

In the market report section of Saturday's Independent, Arc Risk Management (ARC.L) receives a small mention following Friday's contract win with insurer Hiscox. Shares in the Company stood firm at 2.25p.

Ahead of today's announcement, the Guardian reports on Mean Fiddler's (MEF.L) windfall of £3.15m from the sale of its FM Radio station for £1.5m and the settlement of an outstanding litigation issue against Islington Council for £1.65m. The Group now plans to focus on its three core divisions of festivals, international touring and live music venues. The stock moved ahead by 5p on Monday morning to 24.75p.

The Sunday Times reports on the appointment of Edgar Bronfman Sr, to the Board of Mobilefuture (MBF.L), which will soon be known as Bella Media. The paper says Edgar is the head of the billionaire whisky family that is also a big player in Hollywood. Mr Bronfman's son is reported to be second favourite to take control of Hollywood film studio, Universal. Commenting on his new appointment and IMAX's potential, Edgar says he is, "looking forward to helping open new opportunities in what I believe will be an exciting period for the burgeoning edutainment industry". The shares were unchanged this morning at 0.285p

The Daily Telegraph reports on the latest winner of its investment competition, 'Desert Beau Golf Club' and its only holding Oxford BioMedica (OXB). On Monday morning, OXB shares nudged 0.50p higher to 26.50p.

NB: Monday morning prices were taken at 10.50am.

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.

African Diamonds (AFD) - Drilling Report.
Mean Fiddler Music (MEF.L) - Trading Update and Disposal.
Oxus Gold (OXS) - Proposed Demerger.
Pentagon Protection (PPR) - New contract.

Look Out For This Week

September 15, Monday - Nothing of note.
September 16, Tuesday - Oxford BioMedica and Wigmore Interim results.
September 17, Wednesday -Bank of England MPC minutes and UK labour market
report.
September 18, Thursday - UK retail sales, public borrowing report,
industrial trends, M4 money supply and M4 lending report.
September 19, Friday - Nothing of note.

The next Penny Share Review will be posted on Monday, 22 September 2003.

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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