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Penny Share Review 291

20 June 2005

Press

Good news may be on the horizon for Corpora (CP.L) following a disappointing run of late, according to The Guardian on Saturday, which noted that Traders believe work in the US has recently been won. The share price remained steady at 11.75p this morning despite these rumours.

Today's Times reported on the acquisition of Full Bredde (see below) by Delling Group (DLG) at a cost of £300k, roughly three times FB's annual pre-tax profit, and mentioned the joint venture with Lucent Technologies announced last week. Positive interpretation of this news has seen the share price move forward 0.25p to 22.50p this morning.

Suggestion that Apax Partners may be planning a £200m takeover offer for Entertainment Rights (ERT), the owners of Postman Pat, and merging it with HIT Entertainment, which Apax acquired last month, appeared in today's Times. This news seems to have been well received, as the shares enjoyed a rise of 3.75p this morning to 31.75p.

Saturday's Daily Mail provided commentary on the ongoing saga regarding Paul Stretford, formerly of Proactive Sports Management, which later became Formation Group (FRM). The results of the investigation could lead to a substantial fine and also the possible loss of his license. Formation's shares were unchanged this morning at 8.25p.

The Independent on Saturday reported that Griffin Mining (GFM), unlike other exploration companies on AIM, does not have a management team who fall into the 'hype' trap. The piece noted the opening of a new mine in China this week and concluding that the Company is a 'speculative buy'. Following this positive media attention, the shares improved by 2.00p to 35.25p this morning.

NWD Group (NWD.L) featured in The Times on Saturday, which attributed a fall in the share price to Framlington selling its 11.5% stake. Monday morning's trading saw a slight improvement, as the shares increased 0.08p to 0.70p.

Rumours of a contract win with a consumer goods manufacturer were unable to push the shares of Vianet (VIA) forward, according to The Times on Saturday and Monday morning's session saw no change in the price of 5.00p.

Monday morning prices were taken just after 10.30 on 20 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.

Delling Group (DLG): Acquisition.
Glen Group (GLN): Interim Results.
Griffin Mining (GFM): Production at Caijiaying.
IDN Telecom (IDN): Interim Results.
IDOX (IDOX): Interim Results.
Matrix Communications (MXC.L): Directorate Change.
Media Square (MSQ): Holding(s) in Company.
ReGen Therapeutics (RGT): Research Update.
SectorGuard (SGD): Interim Results.

Look out for this week

Monday 20 June - Interim Results from IDN Telecom, Glen Group and IDOX. Ffastfill AGM. UK BBA Lending.
Tuesday 21 June - Zambezi Resources AGM. Germany Bundesbank monthly report.
Wednesday 22 June - UK Bank of England MPC minutes.
Thursday 23 June - Interim results from Bede. US Jobless Claims.
Friday 24 June - Symphony Plastic AGM. US New Home Sales.

The next Penny Share Review will be posted on Monday 27th June 2005.

Compiled by Chris Richards

Penny Shares Online - penny shares research and information service.