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Penny Share Review 310

31 October 2005

Press Air Music & Media (AMU) appeared in an article comprising part of Today’s Independent under its ‘Small Talk’ section. The critique drew particular attention to the Company’s missed forecast, after a poor trading period and John French’s dwindling relationship with broker Seymour Pierce. French blamed poor communication with the City, but downward price pressure on DVDs and CDs together with the slump in physical music sales were noted as likely causes for this performance. New forecasts from Seymour Pierce are now awaited, but the fear is that performance will not be up to last year’s levels. Despite this attention, however, the shares remained unchanged at 3.38p.

The Independent on Saturday reported gains in the share price of Croma Group (CMG) and attributed this to reports from the Company of ‘robust’ trading in the first three months of the year. This momentum appeared to spill over into Monday morning’s trading, as a further rise of 0.63p was witnessed lifting the price to 4.38p.

The Sunday Telegraph reported that, following previous shortcomings regarding Northern Petroleum’s (NOP) activity on its Isle of Wight prospects, many investors had decided to abandon ship, but that this selling activity might present a buying opportunity. Furthermore, the piece suggested that a former BP executive is to head up the Company’s Dutch operations and further agreements may be reached regarding the Guyane area with Hardman. It concluded with a rating of ‘Risky Punt’ and trading activity this morning saw a positive movement of 0.50p, as the shares reached 42.0p.

Monday morning prices were taken just before 10.30am on 31October 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.

African Diamonds (AFD): Exploration Update.

Bede (BED): Third Quarter Results.

Coolabi (COO): Change of Registered Office.

ID Data (IDD): Result of AGM.

London & Boston Investments (LBN): Interim Results.

Minco (MIO): Bankable Feasibility Study.

Net b2b2 (NEB): Final Results and Change of Advisor.

NMI Security (NMI): AIM Suspension/Report and Accounts.

Northern Petroleum (NOP): Guyane Operations Update.

Virotec (VTI): 1st Quarter Results.

Look out for this week

Monday 31 October – London & Boston Investments (LBN) and Bede (BED) Interim Results, Net b2b2 (NEB) Final Results. September Mortgage Lending and Consumer Credit.

Tuesday 1 November – CBI Monthly Distributive Trades Survey and Manufacturing Purchasing Managers Index.

Wednesday 2 November – Construction Purchasing Managers Index.

Thursday 3 November – Service Industry Purchasing Managers Index.

Friday 4 November – Nothing of note.

The next Penny Share Review will be posted on Monday 7 November 2005.

Compiled by Chris Richards.

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