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Penny Share Review 242

Monday 05 July 2004

The Daily Mail on Saturday mentioned broker Numis' 'Buy' recommendation on Invox (INX.L) at 317p, saying that the shares remain 'good value'. The stock remained unchanged at 320p on Monday.

The newspaper also noted the continued price increase in Leisureplay (LPY.L) as punters continued buying after hearing Terry Ramsden had acquired an 11.1% stake in the Company following a restructuring. Shares were up by 12% on Monday morning at 10.5p.

Bede (BED) was featured in the FT (3-4 July 2004), which said that with sales expected to almost double to £8m in 2004, this could be the year that the sector's needs catch up with the Company's innovative technology. However, the financial paper also said that to make a profit the Company must grow, and with projected pre-tax losses of £2.4m in 2004 and £600,000 in 2005, the stock is not for the 'faint-hearted'. Shares in the Company were up by 1.8% at 28.5p on Monday.

The Guardian on Saturday noted the increase in the share price of Air Music & Media (AMU) due to the rumours that a transformation deal was in the pipeline. The shares are still suspended 10p.

The Daily Mail on Saturday mentioned the appointment of John Hand as chairman of Elite Strategies (ETS.L) and the outcome of the Group's recent placing. Griffin Securities, part of AIM quoted Griffin Group (GFF.L), now holds 14.4% of the Company. On Monday, the shares were down by 15% at 0.09p.

The Daily Mail on Saturday wrote that an investment recommendation lifted Symphony Plastic (SYM) shares. On Monday, the stock was down by 0.5p at 14.75p.

The Business (4-5 July 2004) featured Cardpoint (CASH) in its AIM Investor section, recapping the acquisition of some 816 cash machines from HBOS. The newspaper noted the increase in the Company's average charge per withdrawal to £1.66 and issued a 'Buy' recommendation on the expectation of regular future cash generation with the possibility of greater margins. On Monday morning the shares were up by 1.2% at 126.5p from last week.

The Independent believes that London Asia Capital (LDC) is looking to change its broker and adviser, and is planning to raise up to £5m for a portfolio of new investments in China. The newspaper also wrote that the Group wanted to appoint broker Collins Stewart, which said that London Asia was too small for them as a client, but that they would consider taking over the Company. The Independent said that London Asia refused. The stock traded unchanged at 14.25p on Monday.

The Independent on Saturday tipped Matrix Communication Group (MXC.L) as a 'Good Buy' as it has had a series of high-profile contract wins, including one from Vodafone, and as the interim results showed that the Company's turnover and profits were rising. However, the newspaper also noted that the recovery in the sector remained fragile and that Matrix could be vulnerable. Shares in Matrix were down by 2.8% at 3.48p on Monday.

The Independent on Saturday also tipped Top Ten Holdings (TTH) as a 'Good Buy'. The newspaper cited the government's proposals on gambling giving a boost to bingo, and the expectation of the new laws that could come into effect in 2005 to reduce the threat to traditional bingo clubs from aggressive casino operators, as main reasons for the recommendation. Shares in Top Ten Holdings stood firm at 7.88p on Monday.

NB: The prices quoted above were taken just after 10.52 on Monday 05 July 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.

Air Music & Media (AMU) - Final Results.
Black Rock Oil (BLR) - Issue of Equity.
Earthport (EPO.L) - Claim.
Netcall (NET.L) - Director Shareholding.
Web Shareshop (WSS.L) - Holdings in Company.
Oxford Biomedica (OXB) - License Agreement.

Look out for this week

Monday, 05 July - Eurozone: Finance Ministers meeting. UK, Germany, Italy: PMI services.
Tuesday, 06 July - UK: Industrial production (May). Ger: Unemployment (Jun)
Wednesday, 07 July - Ger: Manufacturing orders (May).
Thursday, 08 July - UK: Bank of England meeting. US: Consumer credit (May) Ger: Industrial production (May).
Friday, 09 July - UK: Trade in goods and services (May), Ger: Trade balance (May). US: wholesale inventories (May).

The next Penny Share Review will be posted on Monday, 12 July 2004.

Compiled by Özlem McCann


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.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.