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Penny Share Review 252

13 September 2004

On Saturday, the Daily Mail reported that dealers expect a confident return to the market of shares in Air Music & Media (AMU) on Monday, following the publication of details about the acquisition of Redworth. The shares traded at 9.00p on Monday morning, a fall of 0.80p from their pre suspension price.

The Sunday Express explained that Hot Group (HOT.L) plans to become the UK's leading consolidator of niche recruitment sites. Hot Group is ranked about fifth at the moment, but plans to become number one next year, following further takeovers. The paper said the Company is thought to be in negotiations to acquire workthing.com, which is owned by Guardian Media Group. Shares in Hot Group nudged up a 0.25p to trade at 18.50p on Monday.

Several weekend papers reported on the announcement from Friday of Media Square's (MSQ) £22m bid for marketing services company Coutts Holdings. The stock was unchanged at 19.00p on Monday.

The Daily Mail on Saturday briefly noted the publication of a 'Buy' note from SQC Research at 7.5p on Northern Petroleum (NOP), due to 'good management' and 'exciting drilling'. Shares in the oil company moved 0.25p higher to 9.38p.

The Smaller Companies Notebook section of Monday's Independent reviewed Pipex Communications (PXC.L) acquisition trail to date that has led to the Company becoming one of the five biggest broadband internet providers in the UK. Pipex owns part of the spectrum that is being used for a new wireless broadband technology called WiMax, which allows computers to make a wireless connection to the local phone network. The paper says that one investment bank is expected to publish some research on the new technology in the next few weeks and concludes that Pipex could, "be sitting on something rather valuable". Pipex shares remained unchanged on Monday morning at 7.50p.

The Daily Express on Saturday reported on rumours that trading was up on last year at Ten Alps Communications (TAL) and that a TV contract with a US client has been renegotiated, which should be live in four months. The shares staged a strong rally on Monday morning, advancing by 2.75p to 46.50p.

Monday's prices, quoted above, were taken just after 11am on 13 September 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) - AGM Notice.
Air Music & Media (AMU) - Acquisition.
Entertainment Rights (ERT) - Interims results and acquisition.
Deal Group Media (DGM) - Interim results.
MOS International (MOI.L) - Baker marine agreement.
TripleArc (TPA) - Interim results.

Look out for this week

Monday, 13 Sept - Deal Group Media, Entertainment Rights and TripleArc interims.
Tuesday, 14 Sept - Advanced Medical Solutions interims. UK Consumer price Index.
Wednesday, 15 Sept - Hot Group interims. UK unemployment and average earnings.
Thursday, 16 Sept - UK Retail Sales.
Friday, 17 Sept - Nothing of note.

The next Penny Share Review will be posted on Monday, 20 September 2004.

Compiled by Jason Robertson

Penny Shares Online - penny shares research and information service.