Penny Share Review:

• Issue 474 : 05 Jan 2009
• Issue 473 : 29 Dec 2008
• Issue 472 : 22 Dec 2008
• Issue 471 : 15 Dec 2008
• Issue 470 : 08 Dec 2008
• Issue 469 : 01 Dec 2008
• Issue 468 : 24 Nov 2008
• Issue 467 : 17 Nov 2008
• Issue 466 : 10 Nov 2008
• Issue 465 : 03 Nov 2008
• 2009 Archive
• 2008 Archive
• 2007 Archive
• 2006 Archive
• 2005 Archive
• 2004 Archive
• 2003 Archive
• 2002 Archive

Penny Share Review 225

Monday 08 March 2004

Broker Evolution Beeson Gregory’s buy recommendation on Eckoh Technologies (ECK) featured in Saturday’s Daily Mail. The paper spotlighted the alliance with BT and how it is going some way to realising the “huge potential” of the speech recognition technology. The shares at 09.50 were up 0.25p from Friday’s close and stood at 15p.

Saturday’s Independent picked up on rumours surrounding Northern Petroleum (NOP) and the recommencement of drilling at the Avington field in Hampshire, in which the Company has a 5% stake. Hereward Ventures (HEV.L) and Black Rock Oil and Gas (BLR.L) also have an exploration interest in this area. At 09.50 the shares were down 0.13p to 9.13p from Friday’s close.

Offshore Telecom (OST.L) moved ahead, according to Saturday’s Daily Express, in anticipation of a bullish annual meeting this week. The shares were up 0.10p to 2.83p from Friday’s close at 09.50.

Oxford BioMedica (OXB), The Independent from Saturday reviewed its commentary from earlier in the week, which reckoned that the Company, “is working on science so new, so exciting that Cancer Research UK and US National Cancer Institute are bankrolling big human trials of its new drugs.” If the drugs work then the paper believes it could be “sitting on a goldmine”. Moreover, over the shorter-term the Company is a “prolific generator of news, which ultimately drives the shares price in this highly speculative sector”. At 09.50 the shares were up 0.25p to 26.75p from Friday’s close.

The latest developments at PlaneStation Group (PTG) came under review in two of the weekend’s newspapers. The Weekend Financial Times picked up on moves by the some of the larger shareholders to replace chief executive Oliver Iny at today’s (Monday) EGM. Prudential, the largest shareholder is said to be calling for Mr Iny’s head after rumours broke that Robert Ware, the former MEPC executive, proposed a break-up of the company at 10p a share. This would value PlaneStation at about £200m. However, Edmond Jackson in The Sunday Telegraph took a dimmer view of the goings-on at a time when the airports-to-property business model “could really start to generate value”. He concluded his small piece on the Company by noting, “…it concerns me that action to remove the chief executive may presage a carve-up bid that throws away long-term potential.” At 09.51 the shares had moved ahead by 0.70p to 5.58p from Friday’s close.

The proposed fundraising by SRS Technology (SGY.L) is mentioned in Saturday’s Daily Express. Several directors have given the Company a vote of confidence by taking part in the £1.3m placing. At 09.51 the shares were unchanged from Friday’s close.

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.

Communisis (CMS) - Holdings in Company.
IDN Telecom (IDN) - Final Results.
London Asia Capital (LDC) - Expansion of Singapore Operations.
London & Boston (LBN) - Acquisition.
MOS International (MOI.L) - Opening of a Middle East Sales Office.

Look out for this week

Mon 8 Mar - IDN Telecom (F), ODPM House price index (Jan).
Tue 9 Mar - Ennstone (F), UK Industrial/ Manufacturing production (Jan).
Wed 10 Mar - US trade balance (Jan).
Thur 11 Mar - nothing of note scheduled.
Fri 12 Mar - Fairplace Consulting (I), US consumer sentiment (Mar).

The next Penny Share Review will be posted on Monday, 15 March 2004.

Compiled by Andrew McLintock

Penny Shares Online - penny shares research and information service.