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Penny Share Review 237
Tuesday 01 June 2004
In a full page feature, the Sunday Telegraph profiles Michael Edelson and briefly notes some of the recent companies he has been involved with, including Aerobox (ARX). The shares nudged up 0.75p on Tuesday morning to 20.00p.
At Claims People (CLM.L), Saturday's Independent noted the 0.25p share price rise on Friday to 2.75p, after the Company reassured that its loss adjusting business with Norwich Union would soon be replaced. Claims People shares dropped 0.13p to 2.63p on Tuesday.
The Independent on Saturday briefly noted the drop in the share price of Glow Communications (GLW.L) the previous day, after the publication of "poor results". The stock reversed some of last Friday's losses by gaining 0.02p, to sit at 0.83p on Tuesday.
The Independent on Tuesday posed the question of whether Ofex Holdings (OFX.L) is set to go on the fund raising trail, after it appointed Numis as broker. The paper also says the Ofex market is close to going live within the next few weeks with the introduction of competing market makers. Shares in the Group moved up by 0.75p on Tuesday morning to 25.25p.
Several newspapers over the bank holiday weekend speculated on the publication of the interim results (pre-tax profit of £0.53m) and details of an acquisition by Matrix Communications (MXC.L), which were both confirmed on Tuesday. The Independent and Times on Tuesday also speculated on the possibility of broker upgrades, following publication of the figures. The equity fell slightly lower by 0.01p to 4.20p on Tuesday morning.
On Friday, shares in Planestation (PTG) rose on good volumes, the Daily Telegraph on Saturday briefly noted. Planestation shares traded 0.03p higher to 5.53p on Tuesday.
The Sunday Times reported that Sibir Energy (SBE) is expected this week to tell investors that it will have to absorb a $100m hit on its joint venture in Russia. Sibir's stake had been secretly diluted by joint venture partner, Sibneft, from 22.5% to 1%. The shares have been suspended since 19 April 2004.
Ten Alps Communications (TAL) is featured in the 'Weekend Share watch' of the Weekend FT. Without the latest acquisition of Blakeway Productions, the Group is expected to increase turnover by 20% to £21m and double profits to "about £1m". The article concluded by saying the "real jam tomorrow" will be if the company secures a contract to run a dedicated TV channel for teachers. If the deal comes off, the FT believes Ten Alps will "climb new peaks". Shares in the media company traded 0.75p higher at 38.50p on Tuesday.
Amanda Forsyth, the manager of the Standard Life UK Ethical Fund, explained to the Independent on Saturday about two stocks in her portfolio, the first being Symphony Plastics (SYM) and the second, Virotec International (VTI.L). On Tuesday morning, Virotec International's shares traded 0.44p higher to 18.25p, while shares in Symphony Plastics remained unchanged at 12.75p.
NB: The prices quoted above were taken around 11am 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.
Eckoh Technologies (ECK) - Final Results.
iTrain (IRN.L) - Contract.
iDocumentsystems (IDOX) - Trading Statement.
Matrix Communications (MXC.L) - Interim Results and Agreement.
Tertiary Minerals (TYM) - Drilling Report.
Look out for this week
Tuesday, 1 June - Eckoh Technologies (F), Matrix Communications (I)
Wednesday, 2 June - Consumer credit.
Thursday, 3 June - nothing of note.
Friday, 4 June - nothing of note.
The next Penny Share Review will be posted on Monday, 7 June 2004.
Compiled by Jason Robertson
Penny Shares Online - penny shares research and information service.
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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