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Penny Share Review 213

Monday 08 December 2003

The latest developments at CMS Webview (CWV) were reported in Saturday's Guardian. It announced a deal with Cinnober, a Swedish company that will see the two businesses collaborate in the sale, marketing and management of Cinnober's over-the-counter trading platform, Cscreen. The shares at 10.32 stood at 13.75p ahead by 1.25p from Friday's close.

Monday's Business puts Electric Word (ELE) under the spotlight noting, "The shares are worth a close look, not least because it is chaired by veteran City entrepreneur Nigel Wray." The paper points out that back in the 1980s Mr Wray built up Carlton Communications, which recently merged with Granada from a small newsletter concern. This time the strategy is different as Electric Word is focusing on publishing newsletters aimed at managers and professional staff in the public sector. Demand is said to be growing strongly, largely as a result of increased government spending. The newspaper concludes, "At 8.5p, the shares are beginning to attract a wider following." The shares seemed to have responded to the recommendation, as at 10.32 they were up by 0.38p to 8.88p from Friday's close.

Investors in Gamingking (GGK) were, according to Saturday's Express, hopeful that "spin-off benefits from the new Gaming Bill out-weighed a widening of half-year losses from £32,000 to £60,000." At 10.34 the shares were unchanged from Friday's close at 1.85p.

The purchase of a 16% stake in Mean Fiddler (MEF.L) by Denis Desmond, Ireland's biggest music entertainment and events organiser is previewed in a couple of newspapers. Monday's Independent quoted Chief Executive Vince Power who said after Mr Desmond agreed to join the board, "Together we can work to deliver value to Mean Fiddler shareholders through increased bargaining power with both artists and suppliers." The Independent noted that the shares in Mean Fiddler have doubled this year thanks to strong festival attendances and the success of its music tour organisation businesses, which most recently brought Justin Timberlake to the UK. Mr Desmond has indicated that he aims to be a "long-term investor". Sunday's Observer commented that for Mr Power the deal "is the next step after a restructuring that saw him sell off non-core assets to raise £4.8m in cash" and that the link-up "will create one of the strongest music-promotion alliances in Europe." The shares were up 4.75p from Friday's close to 34.5p at 10.32.

Saturday's Express reported on the appointment of a chief executive at NetCall (NET). Henrik Bang is the man in question and the paper picked up on expectations that his appointment "would be followed by distribution deals." At 10.33 the shares were down by 1p at 28.5p.

Wigmore Group (WGT.L) was featured in Saturday's Express. In the 'Share Whisper' column it is reported that hopes of a reassuring trading update this week had helped the shares move ahead on Friday. The Express added, "The firm is set to move well into the black next year and there are rumours it could buy an engineering company." The shares were up by 0.25p to 3p from Friday's close at 10.34.

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.

Advanced Medical Solutions (AMS) - Trading Statement and agreement.
Advanced Technology (UK) (AVT.L) - Additional Listing.
Europasia Education (EPE.L) - Update and board changes.
Hereward Ventures (HEV.L) - Interim Results.
i-documentsystems (IDOX) - Final results.
Mean Fiddler (MEF.L) - Notification of shareholding.
Profile Media Group (PMD) - Refinancing Proposals.
Virotec (VTI) - Director shareholding.

Look Out For This Week

Dec 8 Monday - I-documentsystems Group (F), Hereward Ventures (I).
Dec 9, Tuesday - UK trade in goods and services (Oct).
Dec 10, Wednesday - UK pre-budget report.
Dec 11, Thursday - UK CBI industrial trends, US Retail sales (Nov).
Dec 12, Friday - Proactive Sports AGM, Billam EGM.

The next Penny Share Review will be posted on Monday, 15 December 2003.

Compiled by Andrew 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.

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