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Penny Share Review 326

27 February 2006

Press

Saturday’s Daily Express picked up on Apace Media’s (APA) chief operating officer’s share purchase earlier in the week. Chris Rowlands added a further 250,000 shares. The shares were ahead by 1.50p in this morning’s trading, reaching 20.50p.

Saturday’s Guardian noted that Formjet (FMJ) led the small cap gainers after news Weighbridge Trust, a Guernsey based fund had purchased 5.25m shares or just over 6% of the Company. The shares continued their forward move this morning as they were up by 0.13p to 2.50p.

Finance for the purchase of Schlegel, a maker of seals for doors and windows, is expected to be finalised by Greg Hutchings of Lupus Capital (LUP) this week, according to Monday’s Independent. The deal is believed to be around £84m, of which Lupus is looking to finance £60m via an equity placing at 14p, with the remainder in debt. Following the acquisition the Group will move from the main list to AIM, it was reported. The shares remain suspended.

Real Affinity (RAF), according to Monday morning’s Small Talk column in the Independent, has approached via its lawyers, Langbar International, with a request for compensation for costs following the collapsed takeover bid for the marketing services group. The shares were unchanged in trading this morning.

Rumours abounded the market on Friday that Scotty Group (SCO) was set to announce a multi-million pound Eurocopter satellite communications contract, noted Saturday’s Daily Express. However, it was the Independent on the same day that put some flesh on the size deal, suggesting it could be worth £32.5bn. It looks like there remains an appetite for the rumours, as the shares were ahead by 0.05p, trading at 1.83p.

The Sunday Telegraph reported on news of a £250m fundraising for a new real estate investment fund by Speymill (SYG). The fund is planning to invest in the German residential property sector, which apparently has higher rental yields and is more affordable and is targeting a running return of 7.25%. Around 35% of the fund will be spent in the East of Germany in areas such as Leipzig, Berlin and Dresden. The shares were ahead by 2.00p this morning, trading at 73.50p.

Stanelco (SEO) edged ahead, noted Saturday’s Daily Mail on news that its Greenseal RF technology is to be used by Wal-Mart. However, the shares were off by 0.50p to reach 15.50p in trading this morning.

Three directors of Subsea Resources (SUB) bought £30,000 of shares, as the stock picked up from a 52-week low, noted Saturday’s Daily Express. The shares were up again this morning by 0.75p to reach 28.00p.

Bosses at World Television (WTV) sold stock to each other on Thursday reported Saturday’s Daily Express. The chief executive acquired 10m shares at 1p, with a third of these being old shares sold to him by the founders. The shares were unchanged at 0.83p.

Monday morning prices were taken around 10.00am on 27 February 2006.

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): Disposal of Liberation.

Apace Media Group (APA): Senior Creative Appointments.

Griffin Mining (GFM): Production increases.

Hidefield Gold (HIF): Alto Ventures Drilling Report.

Intelligent Environments (IEN): Contract win.

Karelian Diamond Resources (KDR): Initial Drilling results.

Mano River Resources (MANA): Resource Update.

Petards Group (PEG): Contract gain.

Look out for this week

Monday 27 February – Hometrack house Price Survey and BBA Mortgage Lending (January).

Tuesday 28 February – Nationwide house prices (Feb).

Wednesday 1 March – UK Consumer credit, mortgage lending data (Jan).

Thursday 2 March – nothing of note.

Friday 3 March – nothing of note.

The next Penny Share Review will be posted on Monday 6 March 2006.

Compiled by Andy McLintock

Penny Shares Online - penny shares research and information service.




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There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

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