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Penny Share Review 297

01 August 2005

Press

Saturday’s Daily Express reported on rumours that two acquisitions are being lined up for acquisition by Croma Group (CMG). Both targets are believed to be private UK companies and would improve the Group’s position in the overt and covert surveillance market. The shares moved 0.13p higher this morning to 5.50p.

The delay in the intended listing of China-Cat impacted upon sentiment towards its main investor CYC Holdings (CYC). Delays with three contracts at China-Cat has now led to the flotation timetable being moved back, reported the Independent and Guardian on Saturday. CYC shares fell back further on Monday by 0.13p to 1.45p.

The Daily Telegraph on Saturday advised readers to ‘Buy’ Electric Word (ELE) at 7.4p following the recent interim results that showed a 22% rise in organic revenues. The paper believes the shares are a stable investment, as revenues rely on subscriptions rather than advertising. On a 2006 earnings multiple of 11, according to brokers’ forecasts, the shares look cheap. The stock advanced by 0.13p to 7.50p on Monday morning.

The Independent on Saturday noted the two pence rise in the shares of Griffin Mining (GFM) on Friday and believes interest in the stock was sparked after the new broker took the miner on a tour of City institutions. The equity retreated by 0.75p to 38.25p on Friday.

Investors betting on increased demand for Image Scan’s (IGE) x-ray imaging technology in the wake of recent terrorist incidents in the UK, moved the shares 2.25p higher on Friday, the Saturday Daily Express believes. The shares fell back by 0.75p to 10.00p on Monday.

The Guardian on Saturday reckon London Asia Capital (LDC) moved higher on Friday, as disgruntled CYC Holdings investors switched their money into the firm. Today’s Daily Express included a feature on Betex, which is planning to move from OFEX to AIM and raise £9m at the same time. London Asia Capital holds a stake in Betex. The stock traded unchanged at 17.00p this morning.

Slightly ahead of today’s announcement, the ‘Small Talk’ section of Monday’s Independent explained about the planned acquisition by Media Square (MSQ) of two private companies based in London and Leeds involved in printing. As the paper noted, the Group’s appetite for growth is clearly undimmed following the recent aborted acquisition of PR company Huntsworth. Media Square shares were unchanged this morning at 23.50p.

Both the Independent and Guardian on Saturday reported on the news from Pentagon Protection (PPR) on the signing of a deal with a leading security products supplier in Egypt to meet demand for bomb-proof glass. The stock remained at 4.88p on Monday.

News from Scotty Group (SCO) last week of a delay in the completion of trials of its kit for military helicopters was noted by the Guardian and Independent on Saturday. Sales for the year to 31 July 2005 are expected to be £2.5m lower, in the region of £4.5m. Scotty shares traded unchanged at 1.70p this morning.

Monday morning prices were taken just after 10.30am on 1 August 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.

Alliance Pharma (APH) - Holding Notification.

Avionic Services (ASR.L) - Resignation of Non-Executive Director.

Europa Oil & Gas (EOG) - Drilling Report.

Interactive Gaming Holdings (IGH) - Acquisition.

Media Square (MSQ) – Acquisitions and New Launch.

Northern Petroleum (NOP) - Commencement of Drilling at Sandhills-2.

Osmetech (OMH) - Product Launch.

Oxford BioMedica (OXB) - Initial Phase-II trial results.

Pentagon Protection (PPR) - Appointment of Director.

Pipex Communications (PXC.L) - Intel Partnership.

Provexis (PXS) - Product endorsement.

SmartFOCUS (STF) - Product sale.

Stanelco (SEO) - Subsidiary Appointment.

Sunrise Diamonds (SDS) - Kimberlite discoveries.

Look out for this week

Monday 1 August – UK Manufacturing.

Tuesday 2 August – UK Construction sector. Eurozone producer prices.

Wednesday 3 August – Eurozone retail sales.

Thursday 4 August – UK interest rate decision.

Friday 5 August – UK industrial production. US non-farm payrolls.

The next Penny Share Review will be posted on Monday 8 August 2005.

Compiled by Jason Robertson



Penny Shares Online - penny shares research and information service.



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