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Penny Share Review 217

Monday 12 January 2004

Cardpoint (CASH) is featured in Saturday's Daily Mail 'Broker Buys' section. The broker in question, Evolution Beeson Gregory, recommends to 'Buy' at 104.5p as it's rating is "still undemanding". Since then the shares have continued to move forward and this morning at 10.38 they were ahead by another 7p from Friday's close at 127.5p.

Saturday's Independent picked up on the five new corporate clients who signed up for CMS Webview's (CWV) ProphetX real-time market display product. The shares were unchanged from Friday's close at 10.38.

The latest developments at Fundamental-e Investments (FEI) are previewed in Monday's Daily Express. The paper revealed that Simon Eagle, who officially took over as chairman last week, would announce his first deal involving a computer games company called Proactive Games. The Company are set to pay £150,000 for Proactive once certain performance targets have been met. The new business is involved in buying up the intellectual property rights to existing games, rebranding them and then selling them through supermarkets in the UK and Europe at budget prices. The shares were unchanged from Friday's close of 4.63p at 10.39.

SectorGuard (SGD) is now a constituent of active investor Peter Temple's portfolio, which was featured in the Weekend FT. He concluded that the Company has "built up a record of profits growth, it operates in an unglamorous business and is too small to be researched by City analysts" and showed up well in his screening process. He also added that results due this month "will point up the shares' modest valuation and spark more interest." His timing is impeccable as the final results for 2003 were announced this morning (see below). The shares were unchanged from Friday's close of 4.75p at 10.39.

Talk in the market that Sibir Energy (SBE) "will soon issue a positive drilling update" from its Upper Salym field in western Siberia had, what The Independent on Saturday described as, "hot money" flowing into the stock. The shares were unchanged from Friday's close of 20.5p at 10.40.

The Sunday Telegraph's Edmond Jackson chose to write about communications between shareholders and companies. He picked up on the role of the AGM, amongst other things, and noted that it should be a forum in which a company's objectives and plans should be set out. He highlighted the situation at Wiggins (WGG.L), who at their AGM on Monday 5 January failed to provide shareholders with a presentation. The Company put this down to constraints placed upon them by the UK Listing Authority not to reveal any more detail than that that was in the open offer document. Despite his disgruntlement he added, "I care less about the short-term share price; what matters is for Wiggins to sell properties and make its airports profitable. The group has been renamed PlaneStation and there will be investor presentations at Manston airport in Kent, which shows a willingness to be open." Elsewhere, Wiggins also features as a new addition to active investor Peter Temple's portfolio. Writing in the Weekend FT he noted that the Company has had "a very chequered history" and consequently it has "many disillusioned investors who bought the shares well above the current 5p." He expects that progress in the shares to be in fits and starts, as potential sellers get out, "but I am prepared to be patient." The shares were unchanged from Friday's close of 4.25p at 10.38.

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) Distribution deal.
Alizyme (AZM) Completion of Clinical Trial, New Patient Application.
Chelford (CHR) Period-End Trading Statement.
Fundamental-e Investments (FEI) Investment.
Paramount (PMN.L) Trading Statement.
SectorGuard (SGD) Final Results.
Ten Alps (TAL) Subsidiary merger/ relaunch.

Look Out For This Week

Jan 12 Monday - SectorGuard (F), Cytomyx EGM.
Jan 13 Tuesday - UK industrial output (Nov).
Jan 14 Wednesday - UK Labour market report (Nov-Dec).
Jan 15 Thursday - Nothing of note scheduled.
Jan 16 Friday - Nothing of note scheduled.

The next Penny Share Review will be posted on Monday, 19 January 2004.

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.

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.