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Penny Share Review 336

08 May 2006

Saturday’s Guardian reported that shares in Corpora (CP.L) had moved forward following the announcement of its 75th software contract. The stock remained unchanged at 8.63p during this morning’s session.

The Daily Telegraph today included an interview with Vaughan McLeod of Ennstone (ENN), which reviewed his career and highlighted the fact that the Company is second in size only to Hanson in terms of British quoted building materials groups. The interview raised the question of whether the business would remain independent, but the answer suggested that the takeover of the Company could be inevitable if the offer is too great to refuse. The share price fell by 0.50p to 54.75p this morning.

First Artist (FAN) comprised part of the weekend’s The Business, which commented that the Company is well placed to reap the rewards of World Cup fever. It went on to say that a series of upbeat statements had been dispatched in recent weeks and that the shares look cheap for the kind of growth being delivered. A target share price of 12p was noted and the article concluded with a “Buy” recommendation. The share price rose by 1.38p to 8.50p this morning.

IDOX (IDOX) appeared in Saturday’s Independent, which remarked that the shares were down following a profit warning. This movement continued this morning, as the share price lost 0.25p to 9.25p.

The Observer on Sunday featured NMI Security (NMI) and reported ahead of today’s announcement (please see below), regarding the order from the Stockholm Underground worth €200k. The Company is confident it will take a slice of the worldwide market, estimated at £5bn, and noted that there may be interest from various FTSE 100 companies in buying its product. The momentum continued and carried the shares 0.70p further to 1.90p this morning.

The Daily Mail on Saturday reported positive share price movement for Metals Exploration (MTL), as rumours suggest that it will be announcing resources of 4m oz of gold at its Runruno project next week. The share price added 0.25p reaching 42.00p this morning.

The share price of NWD Group (NWD.L) fell on news that, although losses had narrowed, the start to the year had been slow, according to The Independent on Saturday. Nevertheless, the share price remained unchanged at 1.00p this morning.

Oxford BioMedica (OXB) received attention from The Independent on Saturday, reporting that “mildly positive” news about its Retinostat offering caused that share price to tick higher. The article went on to say that the business still requires a partner in order to finance trials further and that it loses £10m per year, making the market value look “rich”. On this rationale, the piece concluded with an “avoid” rating. However, the share price moved ahead by 0.25p during Monday morning’s trading reaching 30.25p.

The Mail on Sunday noted that Apcims, the stockbroker trade body, had come out in support of Plus Markets (PMK) following its battle with the LSE. The exchange plans to change its rules, making the Company’s offering a less attractive prospect and Apcims will send its response in next few days. The share price was unaffected by this news and remained 36.25p this morning.

Saturday’s Independent noted that shares in Timestrip (TIME) had advanced on news of the Nestle deal, announced last week and this was also reported in Saturday’s Express and Daily Mail, while the weekend’s FT provided more detail. It stated that full-year revenues of £100k and a pre tax loss of £1m are expected in next week’s results and that broker Evolution reckon sales from the Nestle deal could be about £200k per year. The share price was unchanged at 8.88p this morning, despite this press attention.

The Daily Mail on Saturday also included an article by Brian O’Connor, which looked at the old “sell in May and go away” adage. The article looked at which shares to sell if one was to prune their portfolio and the table of these companies included Croma (CMG) (up 0.13p to 5.25p this morning), Galahad Gold (GLA) (unchanged at 10.75p this morning) and Pentagon Protection (PPR) (unchanged at 1.50p this morning). Monday morning prices were taken between 9.00am and 11.00am on 8 May 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.

Beaufort International (BFG): Statement re. Suspension.

DDD Group (DDD): 3D Mobile.

Dermasalve Sciences (DRM): Final results.

Electric Word (ELE): Acquisition.

FfastFill (FFA): Issue of Equity.

Hardide (HDD): Interim results.

London Asia Capital (LDC): Agreement with SUAEE.

NMI Security (NMI): Agreement.

Ormonde Mining (ORM): Preliminary results.

Top Ten Holdings (TTH): Offer talks terminated.

Look out for this week

Monday 8 May – Interim results from Hardide (HDD) and Ormonde Mining (ORM) and final results from Dermasalve Sciences (DRM). Producer Price Index (April).

Tuesday 9 May – BRC Retail Sales Monitor (April).

Wednesday 10 May – Bank of England Quarterly Inflation Report.

Thursday 11 May – Industrial Manufacturing Output (March).

Friday 12 May – Q1 Insolvency Data.

The next Penny Share Review will be posted on Monday 15 May 2006.

Compiled by Chris Richards.

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