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Penny Share Review 232

Monday 26 April 2004

Saturday's Mail and the Weekend FT noted the resignation of Chairman Chin Kam Chui at Arko Holdings (AKO) after his conviction in Hong Kong for conspiracy to defraud. He is appealing against his conviction. The shares were unchanged on Monday morning at 2.00p.

Positive test results from Colombia by Global Energy sparked an interest in Emerald Energy (EEN), which is also exploring in the South American country, the Express noted as 95m shares changed hands. Shares in Emerald rose by 0.30p to 2.30p this morning.

The Independent on Monday speculates on the possible acquisition by Matrix Communications (MXC.L) of Decorum Networks for £2.3m, which was confirmed by the Company today. Matrix shares continued to rise today, moving 0.35p higher to 4.60p.

In the weekend edition of the Financial Times, John Walter talks about one of the shares in his portfolio, Tandem Group (TND). The Company is following a trend of other companies, such as Hornby and Dyson that are reducing their UK manufacturing and sourcing product from the Far East. He believes the share price should be trading on a p/e of 10 instead of 5, which means the share price should be double its current price of 21p. John believes the operating margin will improve from 3.5%, but noted the high seasonality of the business and possible costs of downsizing the UK manufacturing business. The stock traded 2.25p higher to 22.50p today.

Both the Independent and Mail on Saturday briefly recapped on Ten Alps Communications (TAL) securing a £3m contract from the Foreign and Commonwealth Office for designing, installing and managing the UK stand for Expo 2005. Shares in the Group ticked up half a pence this morning to 33.50p, following the announcement of another contract win today.

NB: Monday Morning prices quoted above were taken at just after 10am today.

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.

Bede - Final Results
Croma Group - Holding.
Hidefield - Drilling Report.
Matrix Communications - Acquisition.
Oxus Mining - Mining Update.
Screen - Final Results.
Ten Alps Communications - Contract Signings.

Look out for this week

Mon, 26 Apr - Bede (F) & Screen (F) results.
Tue, 27 Apr - GFK consumer confidence.
Wed, 28 Apr - Eurasia Mining (F) results, HSBC consumer index.
Thr, 29 Apr - Proactive Sports (F) results.
Fri, 30 Apr - Nothing of note.

The next Penny Share Review will be posted on Tuesday, 4 May 2004.

Compiled by Jason Robertson

Penny Shares Online - penny shares research and information service.