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Penny Share Review 286
16 May 2005
Press
This weekend’s The Business noted positive results from Chelford (CHR) following recent contract wins for its SAP division. The article reported that the Chairman, William Birkett, told the recent meeting that order intake was ahead but it noted that, when taking the share consolidation into account, Chelford is trading at the same level that it was seven months ago. Nevertheless, the piece concluded that the Company made an interesting takeover prospect. Moreover, Saturday’s Daily Mail noted the Company under its ‘Broker buys’ section, after Charles Stanley tipped the stock, owing to its strong software trading, but regardless of this coverage, the shares remained unchanged at 183.50p during Monday morning’s session.
FfastFill (FFA) appeared in the Sunday Times, which reported on the support demonstrated through various Directors’ share-dealing activities, even in the face of widening losses. Interpretation of this during Monday morning saw the shares 0.25p better at 7.50p.
A rumoured contract win for Image Scan (IGE) was held responsible for an improvement in the share price by Saturday’s Independent. Monday morning’s trading saw no further increases as the price remained at 9.50p.
The Mail on Sunday featured an article on Lupus Capital (LUP) in which the return to the market of Greg Hutchings was noted. The piece commented upon the heavy volumes in the shares, seen last week, and mentioned that rumours of the Company’s first deal being imminent spurned the share price on. There was also notice drawn to the fact that share options, held by Hutchings, have an exercise price of 17.5p and, therefore, hold a significant incentive to make any such deal a swift affair. This view was also mirrored in Saturday’s Daily Mail. Monday morning’s trading saw the shares move 1.50p further to 14.00p.
The Independent on Saturday reported a share price increase for Sira Business Services (SIB.L) further to takeover plans by Securiplan moving closer. The shares remained steady at 16.00p this morning.
An article in The Sunday Telegraph provided commentary on the recent activities of SubSea Resources (SUB). The critique detailed that Mark Gleave, Managing Director, was keen to reassure investors that SubSea is a very real business, as the concept behind it strikes chords of ‘adventure ‘ and ‘treasure-hunting’. The interview emphasised the importance that is placed on research and the major risk that is posed by those who falsify information regarding possible wreck sites. Mention was made that an underwriter agreement has been reached for work on the code-named ‘Ella’ project and that the ‘Celia’ salvage could leave the Company with clear profits after recovery costs. Following this media attention, Monday morning’s trading saw an increase of 1.50p as the shares reached 31.75p.
Monday morning prices above were taken near to 11.00 on 16th May 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.
Cardpoint (CASH) – Interim results.
Croma Group (CMG) – Product launch and update.
Ennstone Plc (ENN) – Completion of disposal.
Eurovestech (EVT) – Director shareholding.
Formation Group (FRM) – Director shareholding.
Gaming Corporation (GMC.L) – Interim results.
London Asia Capital (LDC) – Directorate change.
Mice Group (MEG) – Directorate Change.
Oxford BioMedica (OXB) – Phase II trials of TroVax.
Sefton Resources (SER) – Acquisition.
SubSea Resources (SUB) - Issue of Equity.
Look out for this week
Monday 16th May – Gaming Corporation Interim Results.
Tuesday 17th May – Toad AGM. UK Consumer Price Indices. US Industrial Production.
Wednesday 18th May – UK Unemployment.
Thursday 19th May – UK Retail Sales. Eurozone CPI Inflation. US Jobless Claim.
Friday 20th May – UK BSA Mortgage Lending.
The next Penny Share Review will be posted on Monday, 23rd May 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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