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Penny Share Review 227

Monday 22 March 2004

Monday's Independent correctly forecasted the bullish trading statement revealed by Air Music & Media (AMU) today, which owns a string of record labels and a collection of 100,000 easy listening or nostalgic tracks. The paper said there will always be a market for the Greatest Hits of Dave Dee, Dozy, Beaky, Mick & Titch it seems. The market has reacted positively to the announcement so far today, sending the shares 0.75p higher to 7.50p.

The Weekend FT reported on the £3.7m fund raising by privately owned Acolyte Biomedica to finance the development of its test for drug resistant superbugs. BioProjects International (BIP), which was not mentioned in the article, holds a significant stake in Acolyte Biomedica. Shares in BioProjects remained unchanged at 7.25p this morning.

Several newspapers on Saturday briefly mentioned the share rise in Gladstone (GLD) on Friday, following the unveiling of improved interim results. The equity retreated 0.50p to 15.00p on Monday morning.

Andrew Griffiths, writing in the Business believes the shares in Mean Fiddler Music Group (MEF.L) have generated interest in recent months after the sale by founder Vince Power of a 16% stake to fellow Irish promoter Denis Desmond. Knowledge that the forthcoming final results will include figures from the sell out music festivals at Reading and Leeds has also stimulated interest. The article concludes by saying the "results are likely to show the business has turned a corner, the shares may have further to go". Shares in the Group rallied by 5.50p on Monday morning, representing an 11.3% increase, to 54.00p, in response to an announcement today about the launch of a new media division.

The 0.62p rise in the share price of Parallel Media Group (PAA) on Friday, following the acquisition of the remaining 50% stake in Asian PGA Tour, received a small mention in the Saturday editions of the Guardian and Independent. Shares in the Company, stood firm at 4.63p today.

In the 'Taking Stock' column of the Sunday Telegraph, Edmond Jackson said is he dismayed at how events have unfolded at Planestation Group (PTG) after the appointment of new chief executive, Martin May. He seems to doubt that the new CEO can be a long-term company builder, but then said later in the article that Martin May should not be pre-judged yet. Edmond believes the actions resulting from of any strategic review must benefit all shareholders and not just substantial 15% shareholder Prudential. Despite these criticisms, Edmond says he continues to hold the shares. Planestation shares fell slightly by 0.20p to 4.63p on Monday morning.

The Daily Express from Saturday recapped on the results statement from Toad Group (TOA.L) and on soaring sales of its mobile phone hands-free kit since the introduction of the ban on drivers using handsets at the wheel. The Weekend FT also reported on the results. On Monday morning, the shares moved 0.75p lower to 23.00p.

The Weekend FT reported on the results figures from WILink (WLK) last week and of the management's prediction of a return to growth in 2004, after a dip into the red last year. WILink shares dipped 15p lower to 1075p this morning.

NB: Monday morning prices were taken at just after 10.30pm.

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.

Air Music & Media (AMU) - Trading update.
Emerald Energy (EEN) - Final results.
Honeygrove (HYG) - Director declaration.
Maclellan Group (MLG) - Final results.
Matrix Communications (MXC.L) - Technology implementation.
Mean Fiddler Music Group (MEF.L) - New division.
Media Square (MSQ) - Director declaration.
Minco (MIO) - Option agreement.
Multi Group (MLT) - Final results.
Real Affinity (RAF) - Potential acquisition.
ReGen Therapeutics (RGN.L) - Research update.
TripleArc (TPA) - Final results.

Look out for this week

Mon, 22 Mar - Emerald Energy (F), Maclellan Group (F), Multi Group (F), TripleArc (F).
Tue, 23 Mar - Alltracel Pharma (F).
Wed, 24 Mar - Nothing of note.
Thr, 25 Mar - Symphony Plastics (F). Newmark Security (EGM), UK motor vehicle production and BBA mortgage lending.
Fri, 26 Mar - Chelford (F), Stilo International (EGM), UK Balance of Payments for 2003 Q4.

The next Penny Share Review will be posted on Monday, 29 March 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.

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