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Penny Share Review 224

Monday 01 March 2004

The Sunday Telegraph highlighted the value opportunity of engineering concern, Dickinson Legg (DKL) in comparison with technology companies with much higher market caps and ambitious profit projections. The paper said the Group's "sound cash generation" may eventually prove an appetising target for a private equity buyer. The article concluded by saying that as the Group faces tough markets this year, the shares "may bump along sideways, but at 26.25p, this is a special situation to be noted." Shares in the engineering company moved upward by 1.50p and not sideways on Monday morning to 28.75p.

In a review of director dealings over the last week, Saturday's Daily Express reports on the £100,000 worth of shares acquired by directors at Gladstone (GLD) at just above 10p. The paper highlighted that directors at other software companies have been taking profits after the sector's rise of 70%, while others at companies such as Gladstone have continued to plough their money into their companies. At just before 11.00am on Monday, the equity staged a 0.75p rise to 12.25p.

Saturday's Telegraph briefly noted the heavy volume at PlaneStation Group (PTG), with 56m shares changing hands and a 0.88p rise in share price. Planestation edged along the runway on Monday Morning by 0.50p to 5.25p.

The Independent on Saturday reported on rumours that Sibir Energy (SBE) is close to making a major acquisition in Russia. The shares remained unchanged this morning at 26.75p.

A small mention is given to Supporta (SOR) in the Independent and Daily Express on Saturday, along with its 6.75p gain on Friday, following confirmation that talks are taking place to buy an NHS support services company. This morning, the equity nudged ahead by half a pence to 47.50p.

Ten Alps Communications (TAL) is widely covered in the weekends' newspapers, following the acquisition of factual TV producer, 3BM Television, for £630,000. The Daily Express on Saturday described how the purchase is part of the Group's strategy to expand its TV production arm, which already makes political and social affairs programmes. Shares in the Group advanced by 0.75p to 29.75p on Monday morning.

NB: Monday morning prices quoted were taken at the time of going to press at just before 11.00am.

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.

African Diamonds (AFD) - Agreement.
Black Rock Oil (BLR) - Joint venture.
Coffeeheaven (COH) - Fund raising.
Conder Environmental (CDE) - Trading Statement.
Grovesnor Land Holdings (GVR.L) - Changes of advisor.
Keyworld Investments (KWI) - Directorate change.
Northern Petroleum (NOP) - Drilling Update.
Silentpoint (SLP) - Final results.
Tepnel Life Sciences (TED) - Funding Agreement.

Look out for this week

Monday 23 Feb - Silentpoint (F), UK Manufacturing (Feb) and UK Mortgage Lending (Jan).
Tuesday 24 Feb - UK CBI Retail Sales Survey (Feb).
Wednesday 25 Feb - Oxford BioMedica (F) and Services (Feb).
Thursday 26 Feb - County & Metropolitan (I), UK and ECB interest rate decisions.
Friday 27 Feb - US non-farm payrolls (Feb).

The next Penny Share Review will be posted on Monday, 08 March 2004.

Compiled by Jason Robertson

Penny Shares Online - penny shares research and information service.