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Penny Share Review 258

25 October 2004

The Independent on Saturday reported that Eckoh Technologies (ECK) confirmed that it had received a bid approach from a third party. The shares are up by 0.13p at 11.13p from Friday’s close.

The Sunday Telegraph wrote that Southern African Resources (SFU.L) was understood to be close to confirming that it had discovered two substantial resources. According to the newspaper, the shares are ‘risky but worth a punt’. For the same reason, The Times featured the Company in its ‘Smaller Stock to Watch’ section. The shares are up by 4.7% from Friday’s close at 33.75p.

The Independent noted that SmartFocus (STF) joined AIM with a valuation of £5m, rather than the hoped for £14m, but raised the question if the City might have been sceptical of the sales forecasts from Arbuthnot, its broker. The newspaper believes that ‘this is a share that could quickly leap in value’. The shares are unchanged from Friday’s close at 9.38p.

The Independent also recommended to keep an eye on Sopheon (SOP.L) shares this week, as the Company is at a big industry conference in Chicago, where Microsoft is expected to unveil new products to help corporate product development departments sort out their good ideas from their bad. According to the newspaper, the word is Microsoft has been working with Sopheon’s technology in this area. The shares are up 4% from Friday’s close at 6.5p.

Daily Express on Saturday mentioned the speculation that an order from the US for Scotty Group’s (SCO) Carestation product was imminent and that gossips believed this would be followed by a contract win from the German military. The shares were up 3%p from Friday’s close to 4.25p.

Netcall (NET) was featured in the Business (24/25 October), which stated broker Evolution’s price target of 20p. The newspaper recommended the stock as a ‘Buy’. The shares are up 11.3% to 17.25p from Friday’s close.

The newspaper also pointed out that Deal Group (DGM), First Dental (FDT), Namibian Resources (NBR) and Bede (BED) were in an upward breakout, while Bella Media (BLL) and Wigmore Group (WGT.L) were in a downward break out, taking into consideration their current share prices. Deal Group, First Dental, Bede and Wigmore were unchanged at 9.75p, 31p, 36.25p and 0.11p respectively, while Namibian Resources was down by 1p at 27.75p. Bella Media, on the other hand was up 13.6% from Friday’s close at 0.13p.

Edmond Jackson of the Sunday Telegraph wrote about the importance of executives and investor relations, and said that CEO Martin May’s reluctance to meet him makes Planestation (PTG) a candidate to reduce in his portfolio. However, he also mentioned the names of the funds that have backed the shares like Legal& General, Prudential and Artemis and noted that maybe investors simply need to be patient. The shares are down by 1p to 49.5p from Friday’s close.

Monday’s prices, quoted above, were taken around 10.18am on 25 October 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.

Bright Futures Group (BRF) – Placing.

Claims People Group (CLM.L) – New client.

Corpora plc (CP.L) – Change of adviser.

Delling Group (DLG) – Completion of Acquisition.

Eckoh Technologies (ECK) – Relevant Securities in Issue.

ReGen Therapeutics (RGT) – Completion of Acquisition of Guildford Clinical Pharmacology Unit Limited.

Scotty Group (SCO) – Statement re press comment.

Look out for this week

Monday, 25 Oct – Ger: Cost of living (Oct), US: Existing home sales (Sep).

Tuesday, 26 Oct – UK: CBI Industrial trends (Oct), US: Consumer confidence (Oct).

Wednesday, 27 Oct – UK: HSBC Consumer index (Jul), US: Durable goods orders (Sep).

Thursday, 28 Oct – UK: GFK Consumer confidence (Oct), US: Jobless claims, Eurozone: M3 (Sep). Formation Group final results.

Friday, 29 Oct – Namibian Resources AGM, UK: Consumer credit and mortgages (Sep), Eurozone: CPI (Oct), US: GDP (Q3).

The next Penny Share Review will be posted on Monday, 1 November 2004.

Compiled by Özlem McCann

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