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Penny Share Review 290

13 June 2005

Press

A full page article in this week’s Sunday Times featured Neil Rodford, Chief Executive of Formation Group (FRM) and provided an insight into the challenges that he faces in the sector. The piece reflected on his time as Mohamed al-Fayed’s protégé and as advisor to Kevin Keegan, but surmised that bad press following the Wayne Rooney signing and the dealings of Paul Stretford is what is keeping Formation’s share price low. Rodford’s plan is to turn the Company into the IMG of football and the review noted that the Company is growing fast, although having suffered at the hands of negative publicity. Following this media attention, a 0.12p price increase was seen as the shares moved to 7.38p during Monday morning’s session.

A rise in the share price of Griffin Mining (GFM) was reported in Saturday’s Independent and was attributed to an upbeat trading statement, made at the AGM. Production at its Caijiaying site is to start on Wednesday and a further increase of 1.50p to 32.00p was seen during this morning’s trading.

The Times on Saturday remarked that Gaming Corporation (GMC.L) had enjoyed positive share price movement further to Canaccord Capital clearing an overhang. This movement continued this morning as the shares progressed 0.50p to 14.25p.

Monday’s Independent provided commentary on Intellego (IHP) and mentioned that it could be close to a “breakthrough acquisition” and that the current hole in the training product portfolio for SAP software is possibly to be filled by a re-seller. The Company achieved sales growth of 86% last year, unaided by acquisition, and the article suggested that going forward the plan will be to deepen relationships with existing clients such as T-Mobile and DHL. Monday morning’s trading saw no change in the share price at 5.25p.

Pentagon Protection (PPR) featured in the Daily Express on Saturday, which commented that various contract wins had lifted the Company’s share price. A further improvement of 0.25p was witnessed this morning as the shares reached 4.88p.

An article in the Independent on Saturday, titled “AIM: Five stocks to watch” showcased Tanfield (TAN) and speculated that regulation to produce lower emission vehicles is creating growing markets for the Company. Regardless of this attention however, the share price remained at 18.75p during this morning’s session.

Monday morning prices were taken just after 10.30 on 13th June 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.

African Platinum (APP) (Formerly Southern African Resources) – Positive Prefeasibility Study.

Delling Group (DLG) – Teaming Agreement.

Desire Petroleum (DES) – Directorate Change.

Gippsland (GIP) – Exploration Results.

ILX Group (ILX) – Final Results.

Mano River Resources (MANA) – New License Award.

Matrix Communications Group (MXC.L) – Interim Results.

Metals Exploration (MTL) – Results of Runruno sampling.

Noble Investments (NBL) – Change of Advisor.

Ten Alps Communications (TAL) – Final Results.

Look out for this week

Monday 13 June – ILX Group and Ten Alps Final Results. UK ODPM House Prices.

Tuesday 14 June – UK Consumer Price Indices. US Retail Sales.

Wednesday 15 June – UK Average earnings and unemployment figures. US Industrial Production.

Thursday 16 June – UK Retail Sales. US Jobless Claim.

Friday 17 June – Eurozone Industrial Production.

The next Penny Share Review will be posted on Monday, 20th June 2005.

Compiled by Chris Richards



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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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