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Penny Share Review 307

10 October 2005

Press

Air Music & Media (AMU), The Claims People (CLM.L) and Croma’s (CMG) chairman John French comes under the spotlight in Monday’s Daily Telegraph, which lets us in on his passion for breeding Arabian horses and also for fast cars. The attention hasn’t sparked any real interest in the stocks as they remain unchanged at 4.25p, 1.63p and 4.63p respectively.

Saturday’s Daily Express picked up on Deal Group Media’s (DGM) chief executive Adrian Moss’ purchase of 1.5m shares at 6.5p, which took his holding to 42.41m or 11.18%. The shares moved forward by 0.25p to 7.00p in trading this morning.

Sunday’s Observer broke the news that London & Boston (LBN) was set to float the Property Search Group with an expected valuation of £20m, which is over twice the value of LBN. Property Search Group was acquired last year and was established in 1997 to provide property searches at less than the cost of the local authority equivalent. It now has over 87 franchisees across the UK generating annual turnover of £37m and has added new products and pricing packages. Confirmation of Property Search Group’s intention to float (see the announcement below) has seen the shares advance by 2.13p to 7.00p.

There doesn’t look like there is going to be a “black gold” rush on the Isle of Wight according to Saturday’s Daily Express following Northern Petroleum’s (NOP) announcement that it had uncovered no significant oil and pulled the plug on drilling. Nevertheless, Northern remains optimistic about prospects on the mainland, with drilling on the Weald basin on the Hampshire-Sussex border expected to begin next year. This optimism hasn’t failed to stop the shares sliding a further 3p this morning to trade at 39.50p.

Monday morning prices were taken just before 10.00am on 10 October 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.

Amphion Innovations (AMP) – Acquires 30% stake in new business.

Centrom (CET) – Holdings.

Corpora (CP.L) – Issue of equity.

Galleon Holdings (GON) – Acquisition.

Gippsland (GIP) – Environmental Impact approval for Abu Dabbab.

London & Boston (LBN) – Subsidiary IPO.

Oil Quest Resources (OILQ.L) – Director Shareholding.

Look out for this week

Monday 10 October – British Retail Consortium sales data.

Tuesday 11 October – August trade figures.

Wednesday 12 October – nothing of note.

Thursday 13 October – nothing of note.

Friday 14 October – nothing of note.

The next Penny Share Review will be posted on Monday 17 October 2005.

Compiled by Andrew McLintock.

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