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Penny Share Review 309

24 October 2005

Press

Advanced Medical Solutions (AMS) appeared in the Daily Mail on Saturday. The short article mentioned that brokers Corporate Synergy made a ‘buy’ recommendation at 8.125p due to the quality of its woundcare technology. The shares were unchanged at 8.13p this morning.

The decision by a Non Executive Director to purchase £200,000 worth of Ennstone (ENN) shares was reported by the Daily Express on Saturday, following a drop in the share price over recent weeks. Monday morning’s trading saw no change in the price, however, which remained at 38.75p.

Hill Station (HLL) featured in the weekend’s Financial Times under the Small Cap Briefing Section. The article reminded readers of the Company’s move to acquire Loseley and Granelli McDermott for £5.6m in a reverse takeover and suggested that the hope is for a more broadly based and less niche producer to emerge. This development was also commented on in Saturday’s Daily Express, which noted that the Company plans to move to Loseley’s plant in South Wales and Saturday’s Times. The shares remained suspended this morning, pending shareholder approval of the acquisition, at 3.50p.

The deal with Rapiscan Systems was responsible for the positive share price movement of Image Scan (IGE), according to Saturday’s Daily Express, although this appeared to be short lived, as the shares came off 0.25p to 12.50p this morning.

The Independent on Saturday included a review of Netcall (NET) and the impact of Henrik Bang’s move to the Company last year. The QueueBuster product was featured as a favourable alternative to the frustrating call-queueing that some companies employ and Mr Bang believes the telecoms technology is in place to move forward. The piece concluded that the Company was an…”impressive bet for the long term.” Nevertheless, this press attention appeared unable to impact the share price this morning, as it remained 13.00p.

The Independent on Saturday reported a price slip for NWD Group (NWD.L) following news that merger talks have ceased, but the shares enjoyed a slight increase of 0.02p to 1.09p this morning.

Today’s Independent speculated that Oxford BioMedica (OXB) might be in need of more cash and that this is a worry for investors. The article reckoned that with £17m in the bank and no revenues, the £10m study to prove TroVax’s effectiveness is a high risk. Moreover, Saturday’s Independent rated the shares as a ‘sell’ due to the belief that potential commercial partners may require more data before signing. All the same, the shares enjoyed an increase of 1.50p to 35.00p regardless of this news.

The Times on Saturday included comment on Pipex Communications (PXC.L) stating that KBC Peel Hunt valued the Company at 10.5p following news that BSkyB had made a £211m offer for Easynet Group. The market failed to share this enthusiasm however, as the shares fell 0.13p to 9.25p this morning.

Plus Markets (PMK) received column inches in Saturday’s Daily Mail and Independent. The Mail suggested the provision of a competitive reporting service by the Company could have the LSE ‘twitching’, whilst The Independent expressed that the share exchange could be going somewhere again under Brickles, concluding with a ‘buy’ recommendation. The shares increased 1.00p to 13.38p during this morning’s session.

Max Petroleum, in which Tarquin Resources (TQN) owns a stake, appeared in this morning’s City AM, reporting on the impending AIM floatation of the Company. Max will be the eighth largest float on AIM this year, with a market cap of £90m and focuses on Oil and Gas exploration in Kazhakstan. Tarquin’s share price remained 1.55p during this morning session. Monday morning prices were taken just before 10.30am on 24 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.

Air Music and Media (AMU): Holdings in Company.

Egdon Resources (EDR): Preliminary Results.

Greenwich Resources (GRWA): Response to Press Speculation.

Interactive Gaming Holdings (IGH): Holdings in Company.

Lombard Risk Management (LRM): Commercial Update.

Oxford BioMedica (OXB): License Agreement.

Look out for this week

Monday 24 October – Preliminary Results from Egdon Resources (EDR).

Tuesday 25 October – UK 50-year Gilt Auction.

Wednesday 26 October – CBI Quarterly Industrial Trends Survey.

Thursday 27 October – Final Results from Formation Group (FRM) and Interregnum (ITR.L). British Bankers’ Association Mortgage Lending Data (September).

Friday 28 October – National Institute of Economic and Social Research quarterly economic forecasts.

The next Penny Share Review will be posted on Monday 31 October 2005.

Compiled by Chris Richards.

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