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Penny Share Review 296

25 July 2005

Press

An improvement in the share price of Accident Exchange (ACE) was attributed to the purchase of 10,00 shares by David Galloway, deputy chairman, by Saturday’s Independent and the shares enjoyed a further increase of 2.50p this morning as the price reached 317.50p.

The Mail on Sunday reported that ADDleisure (ADE) would be unveiling deals to provide exercise equipment, namely the Power Plate machines, to health clubs such as Cannons, David Lloyd and Holmes Place. The machines are marketed by Liberation Fitness, of which the Company owns a 42% stake, and this news was confirmed by today’s announcement (see below). Following this update, the share price gained 0.88p as it rose to 2.75p during Monday morning’s trading.

Earthport (EPO) featured in The Daily Telegraph on Saturday, which reported on a history of litigation and a ‘spectacular’ share price fall. The article did, however, note that the management team are expected to announce that new funds have been secured. Positive movement was seen on Monday morning, as the share improved by 0.08 to 0.48p.

The Independent on Saturday noted a fundraising of £1m through a placing Fundamental-e (FEI). The shares remained at 1.25p this morning.

The Sunday Times informed its readers that Galahad Gold (GLA) is to float its spin-off company, International Molybdenum, on Thursday valuing the firm at about £40m. Galahad will retain more than 80% of the shares, but regardless of this news, the shares remained at 11.13p this morning.

An article in The Sunday Telegraph provided commentary on Tony Reeves of Hotgroup (HOT.L), which surmised that bid interest in the Company from two national newspaper groups and one regional was annoying for him. The short term goal was reported as delivering value to the shareholders and mention was made of the possibility that no-one will purchase the Group. Monday morning saw no change in the share price of 18.25p.

The Guardian on Saturday included a piece on Interactive Gaming (IGH), which suggested that the Rovells private investment vehicle, which increased its holding to 8.3%, is rumoured to be linked to the Tchenguiz brothers. The shares moved further forward by 2.50p to 11.00p this morning.

Shares in Kryso Resources (KYS) improved, after the deputy chairman purchased 700,000 shares on Monday, according to Saturday’s Daily Express. No further movement was seen this morning, as the shares remained at 11.75p. Saturday’s Daily Telegraph invited investors who want exposure to the Chinese market to take a look at London Asia Capital (LDC) due to its Chinese banking license. The involvement of the Framlington smaller companies fund should also provide comfort to those worried about the Chinese bubble bursting. Following this media attention, the shares increased by 1.75p to 17.25p this morning. NMT Group (NMT) appeared in Saturday’s Daily Mail, which reported that a ‘dissident’ shareholder is hoping to engineer a boadroom reshuffle. Monday morning’s picture was no less gloomy for the Group, as the shares fell a further 0.50p at 61.0p.

The Daily Express on Saturday noted that Meriden Group (MRD) shares are close to their lowest levels ever and that the chief executive offloaded a large amount recently. Nevertheless, the shares remained at 1.18p this morning.

Saturday’s Independent detailed an increase for Pacific Media (PCM) following ‘boasts’ of month on month sales growth. Monday morning’s session saw the share price 0.01p better at 0.18p.

The weekend’s FT commented on a ‘healthy start’ for Provexis (PXS) after its first month on AIM and the article continued that the Company had pleased the market with its maiden results. However, despite this attention, the share price remained unchanged at 6.50p this morning. Monday morning prices were taken just after 10.00 am on 18 July 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.

ADDleisure (ADE) – Directors Holding / Update.

AIM Resources (AIMR) – Holdings in Company.

Central China Goldfields (CGG) – Granting of Exploration Licenses.

Motive Television (MTV) – Strategic Investment.

CybIT Holdings (CYH) – Major order from Europcar.

Northern Petroleum (NOP) – Drilling update.

Oxford BioMedica (OXB) – Awarded Research Grant.

Planestation Group (PTG) – Statement re. Suspension.

Sareum Holdings (SAR) – Major Drug Collaboration.

Silentpoint (SLP) – Interim Results.

TripleArc (TPA) – Directorate Change.

Look out for this week

Monday 25 July – Osmetech full year results. Silentpoint interim results. US Existing home sales (June).

Tuesday 26 July – US consumer confidence (July). UK CBI quarterly industrial trends survey (July).

Wednesday 27 July – Electric Word interim results. UK HSBC consumer index. US new home sales (June).

Thursday 28 July – Bede interim results. UK Nationwide house price survey (July). US jobless claim (w/e July 23).

Friday 29 July – UK consumer credit (June) and mortgage lending (June).

The next Penny Share Review will be posted on Monday 1 August 2005.

Compiled by Chris Richards

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