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Penny Share Review 206

Monday 20 October 2003

The Independent on Saturday said Profile Media (PMD) is in talks that may result in selling a number of its businesses. The shares moved up 10% higher to 3.18p on Monday morning at 10:28 from Friday's closing price.

The Independent on Saturday recapped on Advanced Technology's (AVT.L) fundraising at 10p. The shares were up 3% this morning at 10:34 trading at 16.5p.

The Independent on Saturday mentioned that work had started at Oxus Gold's (OXS) Jerooy gold project in Kyrgyzstan. The Company was also featured in the FT (18/19 October), which recapped the Company's intention to distribute part of its holding in Oxus Minerals Corporation to shareholders on a 1-for-10 basis. The shares were trading at 60.31p this morning at 10:40, up 2%.

The Independent on Saturday and FT (18/19 October) mentioned Multi Group's (MLT) return from suspension having secured £1.57m from a fund raising. The shares were down 0.75p to 5.5p at 10:43 this morning.

FT (18/19 October) featured Grosvenor Land (GVR.L), which revealed an unsolicited cash offer for Oakburn Properties, a shareholder in the Group, by Panther Securities. The newspaper wrote that Panther would be forced to bid for Grosvenor if it wins Oakburn, because of an existing interest in the Company. The shares were up 0.25p this morning at 10:56 at 14.75p.

The Business (19/20 October) rated Mice Group (MEG) as 'Good Value' saying the order book is strengthening and the outlook is positive. The newspaper wrote that analysts forecast profits of £8m for this year and that at 83.5p, the shares are trading at just under 14 times forecast earnings. The shares were up from Friday's closing price of 83.5p to 86.75p this morning at 11:01.

The Sunday Telegraph rated Eckoh (ECK) as a 'Buy' and wrote that it should net at least £100,000 from a deal with BT and TD Waterhouse. The newspaper believes that further growth could come from Intelliplus as the acquisition has made Eckoh into a market leader with a customer base of more than 13,000 small and medium sized businesses. The shares were up 1p at 16.25p at 11:05.

The Daily Telegraph mentioned Noble Investments' (NBL) recent Placing at 23p. The shares were down from 32.5p on Friday to 30.62p this morning at 11:10.

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.

Protec plc (PRC) - Directorate Change.
Dragon Oil (DGO) - Re: Director Shareholding.
Paramount plc (PMN.L) - Director Shareholding.

Look Out For This Week

October 20, Monday- UK: Public finances (Sept), Mortgage lending (Sept); US: Leading indicators (Sept).
October 21, Tuesday- UK: RICS house price survey (Sept), CBI Quarterly Industrial Trends survey.
October 22, Wednesday- UK: MPC minutes (Oct).
October 23, Thursday- US: Weekly jobless claims.
October 24, Friday- UK: GDP (1st estimate) Q3, Retail Sales (Sept).

The next Penny Share Review will be posted on Monday, 27 October 2003.

Compiled by Özlem McCann

Penny Shares Online - penny shares research and information service.