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Penny Share Review 243

Monday 12 July 2004

The Independent reported the introduction of three new market makers on the Ofex exchange. Now all shares will have at least two market makers and with testing of new computer systems complete, the newspaper wrote that Ofex (OFX.L) could go back on the road to try to encourage other brokers to sign up as market makers. According to the Independent, rumour has it that Shore Capital could be among the first of the second wave. The stock remained unchanged at 26.75p on Monday.

The FT (10/11 July) noted that Energy Technique (ETQ) is better known as a manufacturer of air conditioning systems, but 'its prospects could be transformed by its Nightingale system', following its first sale into the US. Shares were up by 9.1% on Monday morning at 7.5p.

Paramount (PMN.L) was featured in the Independent on Saturday, which criticises talk of a 35p bid per share by the management for full control. The newspaper said that the bid was too low and 'if the management must bid at such a ridiculous price, it should provide a facility for those who want to stay on the shareholder register'. Shares in the Company were unchanged at 34p on Monday.

The Daily Mail on Saturday mentioned the claims of Earthport (EPO) against Baltimore Tehnologies could top £13.5m. According to the newspaper, Earthport expected to earn more tham £9m over three years from a profit-sharing agreement struck in 2001 and is also seeking interest and costs. The shares were down by 1.1% at 2.31p on Monday morning.

The Daily Express and the Times on Saturday noted the decrease in share price of Aerobox (ARX) despite claims it would strongly contest breaches of contract claims by Watermark with which it has a sales agreement. On Monday, the shares were down by 14.5% at 13.25p.

The Daily Express on Saturday noted the heavy institutional buying in Leisureplay (LPY.L) ahead of an EGM due on 26 July. On Monday, the stock was up by 0.13p at 15p.

The Times on Saturday picked up on the fall in the share price of Matrix Communication Group (MXC.L) in spite of word of a substantial contract win next week. Shares in Matrix were up by 8.7% at 3.45p on Monday.

According to the Daily Telegraph on Saturday, there is word in the market that Profile Media (PMD) is on the verge of signing a contract with Chelsea Football Club. Shares were up by 9.6% at 2p on Monday.

NB: The prices quoted above were taken just after 10.03 on Monday 12 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.

Entertainment Rights (ERT) - Contract.
FFastFill (FFA) - Acquisition.
i-document Systems (IDOX) - Interim Results.
Matrix Communications Group (MXC.L) - Multiple Contract Win.

Look out for this week

Monday, 12 July - UK: Producer Prices Index (June), Government spending review. France: Industrial Production.
Tuesday, 13 July - UK: Consumer Prices Index (June). France: Consumer Prices Index (June). US: Trade balance (May)
Wednesday, 14 July - UK: Average earnings, (May), unemployment (June). US: Retail sales (June).
Thursday, 15 July - Billam (interims), UK: BCC quarterly economic survey (Q3/Q2). Eurozone: GDP (Q1 second estimate). US: Jobless claims (July 10), industrial production (June), PPI (June).
Friday, 16 July - Symphony Plastic (AGM), Eurozone: CPI inflation (June). US: CPI (June).

The next Penny Share Review will be posted on Monday, 19 July 2004.

Compiled by Özlem McCann

Penny Shares Online - penny shares research and information service.