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Penny Share Review 346
17 July 2006
Derek Pain’s column in Saturday’s Independent provided a review of his “No Pain, No Gain” portfolio, which contains Access intelligence (ACC). The piece noted that he remained relatively happy with the shares and that the Company was faring reasonably well, with interim figures due soon. The shares were unchanged at 6.00p this morning.
Fundraising news upset the share price of Mano River (MANA), according to Saturday’s Telegraph, however, no further decline was witnessed this morning, as the shares remained at 9.25p. Oakdene (OKD) appeared in The Independent on Saturday, which reported that the acquisition of Honeygrove had accelerated the Company’s expansion. Announcing at its AGM that it would look to sell sites outside its catchment area from Honeygrove’s portfolio, thus contributing to profitability next year, the Company added that the South East market has recovered in the first half of the year and that half two is expected to be greater still. The share price was unchanged at 147.00p during this morning’s trading.
Saturday’s Daily Mail detailed forward movement in the share price of Oak Holdings (OAH), following news that it may be close to planning permission approval on the YES! project. The share price was unchanged at 2.00p during Monday morning’s session.
The Saturday Telegraph noted that Pipex (PXC.L) was performing strongly, despite being less visible than other larger brands. Broker Collins Stewart upgraded its EBITDA forecast from £10.5m to £12-13m for half 1, following a trading update and the article concluded that the shares offer some value. Following this press attention, the share price added 0.11p to reach 9.19p this morning.
Seeing Machines (SEE) featured in the Healthcare Technologies supplement of today’s Times, in a section regarding glaucoma. Widening public awareness of the Company’s device to measure and test visual defects, the report reiterated its status as having developed “many revolutionary computer vision products”. The share price was unchanged at 3.50p this morning.
Stanelco (SEO) comprised part of the weekend’s FT, which highlighted deepening losses causing the share price to slip, despite news of its addition to Wal-Mart’s supplier list. Take-up of the Company’s technology has been disappointing and pre tax losses more than doubled, compared to the corresponding period last year. Turnover rose strongly, due largely to the inclusion of six months worth of sales from Biotec, which was acquired last year. The piece noted that FD, Clive Warner, said it was uncertain when more cash would need raising. The share price drifted by a further 0.17p to 5.68p this morning.
An upbeat trading update at the AGM of Symphony Plastics (SYM) drove the share price forward, according to the Weekend’s FT, noting that the legal dispute with Environmental Products Inc has been seen off. However, the share price fell by 0.25p to 12.50p this morning. The prices given above were taken between 9.00am and 10.00am on 17 July 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.
Eckoh Technologies (ECK): Offer Update.
e-pay Asia (EPY): Major alliance in Pakistan.
Tanfield (TAN): Trading Update.
Look out for this week
Monday 17 July – Eurozone Inflation (June).
Tuesday 18 July – UK RICS House Price Survey and Inflation (June).
Wednesday 19 July – US Inflation (June).
Thursday 20 July – UK Retail Sales and Mortgage Lending (June).
Friday 21 July – UK GDP (first estimate) Q2.
The next Penny Share Review will be posted on Monday, 24 July 2006.
Compiled by Chris Richards.
Penny Shares Online - penny shares research and information service.
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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