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Penny Share Review 245

Monday 26 July 2004

The return from suspension of Fundamental-e Investments (FEI.L) last week received a brief mention in the Independent on Saturday. The shares stood still at 4.00p this morning.

Shares in Knowledge Technology Solutions (KTS) gained 0.38p on Friday, the Independent the next day noted, in response to a purchase of 100,000 shares by the CEO at 5.35p. The stock retreated 0.25p to 5.25p on Monday morning.

The Daily Express on Saturday noted the rise in the share price of Northern Petroleum (NOP) the previous day on hopes that two drilling prospects on the Isle of Wight could "completely transform" its asset value. Shares in NOP moved higher by half a pence on Monday to 6.75p.

Saturday's Daily Express reported that "Traders expect good news" from Motion Media's (MMD.L) acquisition, Scotty Group, which plans to open offices in Beijing to launch a range of products. The stock ticked up by 0.25p to 4.00p on Monday morning.

According to the Mail on Sunday, Top Ten Holdings (TTH) held talks with Gala about acquiring up to half a dozen bingo halls. Shares in the leisure company rose by 0.50p on Monday.

The Daily Mail, noted that shares in Virotec International (VTI) rose on Friday in response to news of the planned launch of its HydroDec technology in Australia on 1 September. The equity fell by 0.25p on Monday.

Ahead of today's announcement, several newspapers reported on the acquisition of television production company, World TV, by Virtue Broadcasting (VTB.L) for £18m. The news sent the stock 0.25p higher to 4.50p.

Further signs of a power struggle at Wigmore Group (WGT.L) received a mention in the Daily Express on Saturday, after Stephen Dean increased his stake to 22.3%, just 7.7% short of Jim Mellon's holding. Shares in Wigmore fell by 30% on Monday morning to 0.19p.

The Independent on Saturday advised readers to "keep an eye out" for new AIM entrant Zambezi Resources (ZRL.L), which is said to have been three times oversubscribed. Shares in the new issue traded at 14.25p at just after 11am on Monday.

Monday morning prices quoted above were taken at just after 11.00am on 26 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.

Accident Exchange(ACE) - Agreement.
Eurasia Mining(EUA) - Initial essays.
Minco(MIO) - Option to acquire company.
Supercart(SC.L)- Commercial order news.
Toledo Copper(TCU.L) - Joint Venture.
Virtue Broadcasting(VTB.L) - Acquisition.
Zambezi Resources(ZRL.L)- First day of dealings.

Look out for this week Monday, 26 July - UK Motor vehicle production.
Tuesday, 27 July - nothing of note.
Wednesday, 28 July - nothing of note.
Thursday, 29 July - UK M4 money supply, consumer credit and mortgages.
Friday, 30 July - nothing of note.

The next Penny Share Review will be posted on Monday, 2 August 2004.

Compiled by JASON ROBERTSON

Penny Shares Online - penny shares research and information service.