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Penny Share Review 233

Tuesday 04 May 2004

In the Independent from Tuesday, we learnt that reporter Stephen Foley has heard on the grapevine that Advanced Technology (AVT.L) has been planning another equity fund raising. He said that the company has fallen on hard times and its attempts to negotiate a long delayed contract with Ghana's water company. Advanced Technology shares traded 1.75p lower on Tuesday at 19.75p.

The recent 'Buy' note from broker Numis Securities for Albidon (ALD) received a small mention in the Daily Mail on Saturday on hopes that the explorer could increase its nickel resource in Munali, Zambia. Albidon shares rose by 0.50p on Tuesday morning to 22.00p.

Tuesday's Independent reported on news that Artisan (ART) has settled a two-year legal battle over the sale of its subsidiary, Bickerton. The High Court has found that the claims fail and that Artisan's counter claim for deferred payments totalling £502,000 has been successful. The Company confirmed the news today. Shares in the Group increased by 0.13p to 2.88p on Tuesday.

Ahead of the announcement, Tuesday's Independent reported on the trading update from Croma Group (CMG) and that its two recent acquisitions have performed strongly, with a combined order book of £1.4m. The stock moved 0.25p higher to 6.25p on Tuesday morning.

The Financial Times today reported on the three-year contract win by Eckoh Technologies (ECK) from UCG Cinemas for an information and booking system across its 42 cinema chain. The stock rallied by 0.50p on Tuesday to 12.25p.

Both the Independent and Telegraph on Saturday noted the 0.75p rise in the share price of Energy Technique (ETQ), following its move from the Official list to AIM. The shares moved a penny higher (19%) on Tuesday to 6.25p.

According to the Mail on Sunday, PlaneStation (PTG) is expected to announce the sale of derelict land in Merseyside that once hosted the Liverpool Garden Festival. The paper also reported that the PlaneStation shareholder action group has asked the Financial Services Authority to examine the events that led up to the departure of Oliver Iny. Shares in the Group notched up a 0.15p rise to trade at 4.47p on Tuesday morning.

The Sunday Times reported on news that Sibir Energy (SBE) has asked advisors to look into whether it is able to launch a criminal or civil action against Russian oil group Sibneft. The dispute centres on its 50% joint venture with Sibneft called 'Sibneft-Yugra', which is claimed to have been secretly diluted. Analysts say that it could be a long time before any case is heard in the Russian courts. The paper also said that Nicolas Berry, who sold out of Atlantic Telecom at the top of the dotcom boom, before its collapse, has also sold out of his stake in Sibir. The article concludes that once trading in the shares resume, the shares could fall by 20%. The stock is currently suspended.

NB: Tuesday morning prices quoted above were taken at just after 10.30 am 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.

Artisan (ART) - Legal outcome.
Aukett Group (AUK) - Appointment.
Croma Group (CMG) - Trading Update.
Eckoh Tech (ECK) - Contract win.
Motion Media (MMD.L) - Contract.
Proactive Sports Group (PAS.L) - Director dealings.
Sefton Resources (SEF.L) - Final Results.
Scipher (SIP.L) - Disposal.
Trio Holdings - Interim Results.

Look out for this week

Tue, 4 May - Sefton Resources (F) & Trio Holdings (I).
Wed, 5 Apr - Consumer credit and M4 lending figures.
Thr, 6 Apr - UK interest rate decision.
Fri, 7 Apr - Nothing of note.

The next Penny Share Review will be posted on Monday, 10 May 2004.

Compiled by Jason Robertson

Penny Shares Online - penny shares research and information service.




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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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