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Penny Share Review 281
11 April 2005
Press
Saturday’s Daily Mail provided commentary on the recent activities of Aerobox (ARX) in an article that highlighted the reluctance in uptake of cargo containers and the resulting inadequate sales volumes as catalysts of the Company’s pre-tax losses. The piece went on to say that although there was enough cash for 2005, orders needed to be landed and preferable before the AGM, scheduled for May 19th. Despite such negative coverage trading this morning saw the shares unchanged at 14.75p.
News regarding the planned acquisition of a 50% oil interest in Uzbekistan by Black Rock Oil (BLR) was reported in Saturday’s Independent, which also noted positive movement for the shares. A further advance of 0.05p to 2.20p was seen this morning.
Saturday’s Independent reported a decline in the price of CMS WebView (CWV) following its discarded acquisition plans. The shares are unchanged at 2.13p this morning.
Image Scan Holdings (IGE) featured in Saturday’s Guardian, which reported that the Company plans to raise £340k through a share offer in order to sustain the growth in its orders. In spite of this news, Monday morning’s trading in the shares remained unchanged at 9.50p.
The return to television of Muffin the Mule was reported in Saturday’s Guardian. The article commented that the series, from Maverick Entertainment (MVK), is anticipated to find markets abroad for this re-working of the classic children’s programme.
An upbeat article in today’s Independent, which featured Pipex Communications (PXC.L), highlighted the fact that although considered a penny share the Company is actually quite a big business that has been grown through acquisitions. Expectations are for the posting of full-year profits of £5.9m against last years loss of £8.2m, arrived at through cost cutting measures, and there is even mention of a possible increase to £12m next year. Trading reflected positive sentiment this morning and saw an increase of 0.63p to 8.13p. Saturday’s Times and this weekend’s FT both reported on news that a syndicate of investors, comprising of Clear Channel and Denis Desmond, had made an offer to purchase Mean Fiddler (MEF.L) for £36.9m, of which Vince Power will personally received £13m. Increased popularity of the Glastonbury Festival, in which the Company has a 39% stake, is among other factors that has seen an increase in turnover to £49.1m to December 2004 and interpretation of this development has seen the share price improve by 2.75p to 58.00p this morning.
Speculation regarding a possible US deal was held responsible for a price increase to 25.5p for Virotec International (VTI) in Saturday’s Daily Express. Trading this morning’s saw further upward movement to 26.5p.
Monday morning prices above were taken near to 11.00 on 11th April 2005.
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.
Desire Petroleum (DES): Drilling Management Appointment.
Earthport (EPO): Holding(s) in Company.
Galleon Holdings (GON): New Intellectual Property.
Pipex Communications (PXC.L): Final Results.
Sareum Holdings (SAR): Contract Extension.
Stanelco (SEO): Re Agreement.
Look out for this week
Monday 11th April –Pipex Communications Final Results. UK Retail Sales Monitor.
Tuesday 12th April – US Budget Gap.
Wednesday 13th April –UK Labour Market Report.
Thursday 14th April – TripleArc Final Results. UK British Chamber of Commerce Economic Survey.
Friday 815h April – Eurozone Labour Costs.
The next Penny Share Review will be posted on Monday, 18th April 2005.
Compiled by Chris Richards.
Penny Shares Online - penny shares research and information service.
There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.
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