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Penny Share Review 260

08 November 2004

Several of the weekend’s newspapers reported on 1st Dental Laboratories (FDT) acquisition of Benchmark last week, including the Financial Times. The papers noted that Benchmark is the Group’s seventh acquisition since joining AIM more than two and a half years ago. More may follow, as the Chairman Andrew Garner said he is in talks with another twenty laboratories in the UK. Broker Corporate Synergy forecasts a small profit of £0.224 before goodwill in the year to 30 November 2004, compared to a loss of £0.2m on sales of £4.3m last year. The shares remained unchanged at 31.00p today.

Both Saturday’s Guardian and Express noted the upward movement in shares of African Diamonds (AFD) last Friday, in response to positive exploration news from its De Beers joint venture in Botswana. On Monday morning the stock remained unchanged at 45.00p.

Saturday’s Express and Independent briefly reported on how buying by directors last week at Bright Futures Group (BRF) buoyed the share price. The shares were unmoved at 7.00p.

Monday’s Independent reported that Cheshire Police will today say that it will not be prosecuting Paul Stretford of Formation Group (FRM) for perjury. Mr Stretford stepped down from the Board last month, but remains as a key employee. The papers noted that his troubles may not be over, as the Football Association may look into his right to continue as a licensed agent. Shares in the Group nudged ahead by 0.13p to 6.88p.

The announcement of three contract wins for a total of over £600,000, lifted the shares in Pentagon Protection (PPR) higher by 10% last Friday, the Guardian on Saturday noted. Pentagon’s shares stood firm at 7.88p this morning.

The Saturday Express briefly noted how a £1m contract by Telephone Maintenance Group (TEL) moved the shares higher. The stock traded unchanged on Monday at 3.75p.

Dealers believe shares in Warthog (WHOG) could be a “good recovery punt” reported Saturday’s Daily Mail. This follows on from the acquisition of the Group’s subsidiaries, intellectual properties and assets by Tiger Telematics. The shares in Tiger Telematics, which the Group gained from the deal, could be worth at least 3p per share, the paper speculated. The shares stormed up 0.19p higher to 0.83p this morning.

Monday’s prices, quoted above, were taken just after 10.30am on 8 November 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) – Director change & Agreement.

Aquilo (AQL) – Possible Acquisition.

Billam (BLLM.L) – Holding.

Deal Group Media (DGM) – Issue of Equity.

Delling Group (DLG) - Agreement.

London Asia Capital (LDC) – Agreement.

Patsystems (PTS) – Trading Update.

Multi Group (MLT) – Director Change.

Top Ten Holdings (TTH) – Interim Results.

ZI-Medical (ZIM.L) – Product update.

Look out for this week

Monday, 8 Nov - Top Ten Holdings interims.

Tuesday, 9 Nov – Retail Sales Monitor.

Wednesday, 10 Nov – BOE Inflation Report and US interest rate announcement.

Thursday, 11 Nov - nothing of note.

Friday, 12 Nov – nothing of note.

The next Penny Share Review will be posted on Monday, 15 November 2004.

Compiled by Jason Robertson

Penny Shares Online - penny shares research and information service.