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Penny Share Review 221

Monday 09 February 2004

The 'People' section of Monday's Financial Times, which details new appointments, reports on Alliance Pharma's (AP.L) new non-executive director Michael Gatenby. Shares in the pharmaceutical's company remained unchanged this morning at 24.5p.

'Good news could be on the menu' at Alizyme (AZM.L) claims Saturday's Daily Mail. The paper believes the biotech company is close to concluding a licensing deal in the US for its ATL-962 obesity drug. Alizyme shares ticked up 3.5p to 195p on Monday morning.

Saturday's Daily Express believe that hopes of a positive update by EIRx Therapeutics (ERX) drove the shares higher last Friday by 1.63p. On Monday morning the equity moved a further 1p higher to 11.5p.

Honeygrove's (HYG) drop into the red for the year by £1.7m receives a brief mention in Saturday's Independent. Honeygrove shares advanced by half a pence to 9p on Monday morning.

Saturday's Independent speculates on the possibility of a forthcoming trading update from IDN Telecom (IDN). The Daily Mail from the same day also mentions the publication of a 'Buy' note from SQC Research at 2.375p. Following today's trading statement the shares notched up a 0.85p rise to 3.83p this morning.

The Times on Saturday reports on the departure of Chief Executive John Howson and the profits warning at Maverick Entertainment (MVK). The finance director Sookra Raveendran says the two events are not linked as Mr Howson is 63 and doesn't want to deal with the City anymore. The stock remained unchanged at 1.75p on Monday morning.

Institutional investors are said to be digging in on hopes that Northern Petroleum (NOP) will "strike it rich" when drilling commences on its Isle of Wight licences, reports the Daily Mail on Saturday. Shares in the exploration company, increased by 0.63p to 6.50p this morning.

Underneath the headline, 'Drugs make a fashion comeback', the Daily Express from Saturday briefly comments on director buying at Osmetech (OMH) last week of 330,000 shares at 4.5p. On Monday morning, Osmetech shares nudged 0.08p higher to 4.80p.

Shares in Patsystems (PTS) firmed by 2.25p to 23.75p on Friday, due to a series of well-received presentations to institutions, according to the Daily Express on Saturday. The advance continued on Monday morning, with a 1.5p increase to 24.50p.

The Independent and Daily Mail from Saturday briefly recap on the announcement from Sopheon (SPE) that it knew of no reason for the recent sharp rise in the share price. Shares in the software company, fell by 1.75p to 36.75p this morning.

NB: Monday morning prices quoted were taken at the time of going to press at just after 11am.

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.

Country & Metropolitan (CRY.L) - Trading Update/Notice of results.
Gladstone (GLD) - Notice of EGM.
Henderson Morley (HML) - Croma Pharma update.
IDN Telecom (IDN) - Trading Statement.
Ofex Holdings (OFX.L) - Subsidiary Appointment.
Quiktrak Networks (QTR.L) - Director Change.
SectorGuard (SGD) - Additional Listing.

Look out for this week

Monday 9 Feb - UK industrial production (Dec).
Tuesday 10 Feb - Nothing of note scheduled.
Wednesday 11 Feb - UK unemployment (Jan), Bank of England inflation
report.
Thursday 12 Feb - Nothing of note scheduled.
Friday 13 Feb - Nothing of note scheduled.

The next Penny Share Review will be posted on Monday, 16 February 2004.

Compiled by Jason Robertson

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.