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Penny Share Review 210

Monday 17 November 2003

The 'Taking Stock' column of the Sunday Telegraph notes that shares in Advanced Technology (AVT.L) have nearly doubled since a 10p placing, despite little commentary on bulletin boards, compared to companies such as Superscape which receives bullish mentions on such media. The author of the article believes that while it can pay to follow early momentum in the case of Superscape, there are also times to be contrarian. The shares ticked 0.25p higher on Monday morning to 19.75p.

According to the Daily Mail on Saturday, speculation that a leading airline has agreed to use Aerobox's (ARX) containers helped the stock rise 2p on Friday. Aerobox continued to rise, adding 1p to trade at 31.75p on Monday.

Under the headline, 'I seek pearls in shell companies', Kevin Goldstein-Jackson comments on the shell companies in his portfolio for the weekend Financial Times. One such company is AWG Services (AWG.L) , which recently reported on its plan to reverse into property development company, Oak Holdings. Kevin concluded that he hopes Oak will prove to be a valuable asset in the AWG shell. The shares remained unchanged at 2p on Monday.

Conroy Diamonds & Gold (CDG) receives a mention in the 'At a Glance' column of Saturday's Daily Mail. The paper says the rising gold price gives the company hope as it searches for gold in the Irish midlands. The equity traded unchanged at 7p on Monday morning.

Ahead of today's interim results, Saturday's Daily Mail briefly comments on Mice Group's (MEG) penny rise on Friday. The market seems to have reacted negatively to Mice's results so far, dropping 5p to 81.5p.

In this morning's Financial Times we learn of Pentagon Protection's (PPR) £1.5m acquisition of solar and security window film specialist, FilmTek. The paper says the purchase will double Group revenues and is set to be financed by a Placing of 21m shares at 4.75p to raise £997,500. Pentagon shares remained unchanged at 6.75p on Monday.

Saturday's Express reports on brisk trading in the shares of Pipex Communications (PXC.L), as more than 12 million shares changed hands, with dealers said to be "talking up" the company. Shares in the company traded unchanged at 7.50p on Monday Morning.

The Saturday edition of the Express reckons the 2.38p rise in the shares of Southern African Resources (SFU.L) on Friday was due to presentations by US institutions being "well received". The stock experienced a 0.25p fall to 12.25p on Monday morning.

NB: Monday prices quoted above were taken just after 10.30am on 17 September 2003.

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.

Air Music & Media (AMU) - Directorate change.
Pentagon Protection (PPR) - Acquisition and Placing.
Ten Alps Comms (TAL) - Interim Results.
Top Ten Holdings (TTH) - Result of Open Offer.
Stanelco (SEO) - Agreement.
Virotec Int (VTI) - Acquisition.

Look Out For This Week

Nov 17, Monday - Ten Alps Comms interim results.
Nov 18, Tuesday - Wigmore final results, inflation figures.
Nov 19, Wednesday - nothing of note.
Nov 20, Thursday - Cardpoint final results, MPC minutes.
Nov 21, Friday - nothing of note.

The next Penny Share Review will be posted on Monday, 24 November 2003.

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