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Penny Share Review 211

Monday 24 November 2003

Cardpoint's (CASH) founder and chief executive Mark Mills features in an article in the Financial Mail on Sunday about smaller quoted companies and stimulating investors interest. The general point is that small companies have to be dynamic in attempt to keep investors interested by making them aware of each piece of good news as it happens. Mr Mills remarks, "It's all about marketing your company…You have got to be open with investors and create a proposition that will excite them." He continued, "Investors are putting up risk capital, but if you can help them understand how your company works and how your prospects will minimise the risk, you will interest them." At 11.27 the shares were unchanged from Friday's close at 85p.

Expectations of strong interim results on Tuesday moved CybIT's (CYH) shares north on Friday reported Saturday's Daily Express. The shares were down 0.13p at 3.70p from Friday's close at 11.26.

The Financial Mail on Sunday got the inside line on the fundraising by Eurasia Mining (EUA) that was announced earlier this morning. The Placing will see 14.6m shares be issued at 7p bringing £1m to the Company's coffers, along with some high calibre investors, according to Managing Director Christian Schaffaltzky. Eurasia has signed agreements to acquire exploration interests and drilling work is expected to start early next year on its Kola project in Russia. The aim will be to assess the extent of the platinum reserves in the region. Monday's FT adds a little bit more detail noting that the Placing was oversubscribed and that investors who subscribed for the 7p Placing also acquired, on a pro-rata basis, shares at 5p from the disposal of the 29.9% stake held by the Framlington Russian Investment Fund, which was recently wound up. At 11.28 the shares were up 1p at 7.50p following confirmation of the Placing this morning.

The announcement by Galahad Capital (GLA) that its name change to Galahad Gold, following the takeover of mining finance and development company Shambhala Gold had been rubber-stamped at the EGM was picked up by Saturday's Daily Express. The renamed company is to be admitted to trading on AIM on December 23. The shares were unchanged at 16p from Friday's close 11.27.

Seymour Pierce (SYP.L) features in a few of the weekend's papers, all of which at some point raise the question that shareholders have been pondering over for some time; when will the 'special dividend' be paid? Of course no-one in the fifth-estate knows the answer, but Saturday's Times and the Weekend FT highlight that shareholders are to be sent a circular detailing various options as to how the return of cash, which apparently is around about £20m, is to be organised. The Company has been trying to arrange the sale of the asset management business, Pavillion, but recent negotiations with New Star Asset Management were terminated when MGM Assurance, one of Pavillion's biggest customers, informed all parties that it decided not to proceed with the proposals. The FT speculated that the deal was worth around £20m. The word from the Company is that the sale is unlikely to go ahead now and that Pavillion along with the portfolio management advisory business, Rowan, will form the ongoing plc, which is to be renamed Investment Management Holdings. The shares had moved forward by 0.13p by 11.24 this morning.

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) - Interim Results.
Cater Barnard (CRB.L) - Corporate Developments.
Eckoh Technologies (ECK) - Notice of Results.
Envesta (EVS) - Appointment of Auditors.
Eurasia Mining (EUA) - Issue of Equity.
Oxus Gold (OXS) - Holdings in Company.
Proactive Sports (PAS.L) - Holdings in Company.
Ten Alps Comms (TAL) - Contract gain.
Voss Net (VOS) - Interim Results.

Look Out For This Week

Nov 24, Monday - UK CBI Industrial Trends (Oct).
Nov 25, Tuesday - CybIT (I).
Nov 26, Wednesday - UK GDP report (Q3 revised)
Nov 27, Thursday - UK BBA mortgage lending survery (Oct).
Nov 28, Friday - Nothing of note.

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

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.