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Penny Share Review 212

Monday 01 December 2003

Shares in Alltracel Pharmaceuticals (AP.L) dropped 2p on Friday, amid talk, according to the Guardian on Saturday, that stockbroker Davy had closed its book on a £2.75m fund raising at the 40p level. Dealers believe the new funds will be utilised to further develop the Group's anti-bleeding drug. The stock dropped half a pence to 41p on Monday morning.

Saturday's Telegraph briefly recaps on the announcement from CMS Webview (CWV) late on Friday, which outlined plans to raise £2.5m through a share placing. On Monday Morning, the stock remained unchanged at 15.25p.

The Times on Saturday briefly mentions that non-executive director, Bill Dobbie at Iomart Group (IOM) sold 2.5m shares at 40p. Shares in the Company traded 0.25p lower at 42.75p on Monday morning.

Ahead of today's announcement, the Monday Financial Times reveals details of Minco's (MIO) £1m fund raising through the placement of shares at 8p. The new funds will be used to finance Minco's projects in Mexico and possible acquisitions. Minco shares were unmoved at 8.63p on Monday.

In the new issues column of Monday's Financial Times, we learn that Oxus Mining (OXS) will this week spin off its subsidiary, Marakand Minerals, to unlock the value of its silver and zinc assets. Shares in the new company are expected to start trading on AIM on Thursday. The stock remained unchanged on Monday morning at 81.75p.

The 'Secret Dealings' column of the Sunday Mail talks about the people behind cash shell Tecc-IS (TEC.L). Property entrepreneur Larry Lipman now controls the firm and could be guiding it into the self-storage market, according to the paper's source, citywire.co.uk. Larry has been joined on the shareholder list by Julian Richer, the founder of the Richer Sounds hi-fi chain, Martin Edwards, former chairman of Manchester United and Sir Victor Blank, the head of GUS and Trinity Mirror. Shares in the Group nudged 0.63p higher to 8.13p on Monday.

NB: Monday prices quoted above were taken just before 11.00am on 1 December 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.

CMS Webview (CWV) - Contract Enterprise Asia (EPA) - New Directorate. Minco (MIO) - Issue of equity. Virotec (VIA) - AGM replacement announcement. Web Shareshop (WSS.L) - Directorate change.

Look Out For This Week

Dec 01, Monday - M4 money supply. Dec 02, Tuesday - nothing of note. Dec 03, Wednesday - nothing of note. Dec 04, Thursday - BOE and ECB interest rate decisions. Dec 05, Friday - US non-farm payrolls.

The next Penny Share Review will be posted on Monday, 8 December 2003.

Compiled by Jason Robertson.

Penny Shares Online - penny shares research and information service.