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Penny Share Review 239

Monday 14 June 2004

Monday's Independent reported that Air Music & Media (AMU) is mulling over a transformation deal to acquire a low cost entertainment group that will take it into computer games. The paper believes the Group is after a decent back catalogue of classic games for PC's. Observers think Air Music's new purchase is a sizeable deal to swallow. The stock traded 0.25p lower at 9.00p on Monday.

At Constellation Corporation (CST), we learnt from the Daily Express on Saturday of speculation that two blue chip contracts, one of which is with Virgin Atlantic, are set to be rolled out. In addition HBOS is expected to be keen to extend a contract. The shares remained unchanged at 0.27p today.

The Daily Express on Saturday noted the progress of Griffin Mining's (GFM) project in China, after Friday's announcement. On Monday morning Griffin's shares traded unchanged at 22.75p.

In the Business, Andrew Griffiths featured Knowledge Technology Solutions (KTS) in his AIM column and the shares will regain their upward momentum due to the recent launch of the international version of MarketTerminal and the possibility of gaining big name clients. If 1p per share in earnings can be achieved next year, he is of the opinion that the shares will look cheap on a rating of just seven. Mr. Griffiths cautioned that sales growth is critical and until an upward trend becomes clear, the stock will remain speculative. The shares moved 0.38p higher this morning to 7.75p.

Saturday's Independent reported on the results from Flightstore (FLG.L) on Friday and admission from management that progress has been disappointing since floating on AIM last December, due to difficulties in the global airline industry and a flat advertising market. The report concludes with an 'Avoid' rating. The stock traded unmoved at 6.00p this morning.

Shares in Minco (MIO) added 0.75p on Friday, the Independent on Saturday noted on talk that the explorer's Mexican silver project is starting to yield positive results. Minco's shares stood still at 15.75p this morning.

The Independent on Monday noted that Motion Media (MMD.L) is receiving a "sceptical reception" for its planned reverse takeover of German communications company Scotty. The paper believes the Placing price has been slashed from 12p to 4p to get the required £5m cash in.

Institutional buying of Planestation (PTG) from Artemis Fund Management (4.8% holding) is reported by the Guardian and Independent. The stock nudged up by 0.13p this morning to 7.05p.

The Daily Mail on Saturday reported on Friday's news from Virotec International (VTI) that the US Environmental Protection Agency had confirmed the effectives of it technology, which is seen as vital to gain "prize US contracts". The stock moved lower by a quarter of a pence to 29.00p this morning.

Both the Daily Mail and FT on Saturday noted the 'bullish tenor' at Zi-Medical (ZIM.L) of Michael Fort's AGM address of trading so far this year being encouraging and in-line with expectations. The shares moved 0.5p higher on Monday morning to 11.25p.

NB: The prices quoted above were taken at just after 11 am on Monday 14 June 2004.

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.

Advanced Technology (AVT.L) - Suspension and clarification of financial position.
Croma Group (CMG) - Trading Update.
Ennstone (ENN) - Quarry Extension.
Planestation (PTG) - Holding.

Look out for this week

Monday, 14 June - nothing of note.
Tuesday, 15 June - UK consumer price index.
Wednesday, 16 June - Chancellor's Mansion House speech, UK average earnings, Labour market report and unemployment figures.
Thursday, 17 June - Award International interim results, Sefton Resources AGM, UK retail sales.
Friday, 18 June - Cardpoint AGM

The next Penny Share Review will be posted on Monday, 21 June 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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