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Penny Share Review 348

31 July 2006

The easing of the price of Carpathian Resources (CPNR) was noted by Saturday’s Guardian, after the Company’s quarterly update revealed production from Ja3a, its primary well, has been in line with forecasts and is expected to continue. The shares were unchanged at 2.88p in trading this morning.

IDN Telecom (IDN) has been recruited into Derek Pain’s ‘No pain, No gain’ portfolio in Saturday’s Independent. He has been assured that the Company has no plans to consolidate the shares and sales from former directors have “dried up”, although there is the “inhibiting influence” of 12% overhang. He believes the shares are on “far from generous rating”, has cash in the bank and may attract some predatory interest. The shares were ahead by 0.08p in trading this morning reaching 2.10p.

The Questor Column in Saturday’s Daily Telegraph revisited ILX Group (ILX) and noted, “the shares have slipped a bit since being first recommended (late June ’06), but, with the acquisition of CTG, now look even more attractive. Buy.” Despite this, the shares were unchanged at 92p in trading this morning.

Saturday’s Daily Mail featured news of the very poor trading at Global Medics, a business acquired by Multi Group (MLT) back in December ’05. At that time, the vendors appear to have portrayed trading in a much better light, with Multi looking to renegotiate the deal. Global Medics’s Justyn Randall has resigned and the Company fears it will lose money in the year to March ’07. The shares were unchanged at 0.43p this morning.

The Daily Express on Saturday picked up on the profit warning at Netb2b2 (NEB). The stock lost another penny this morning and was trading at 18p.

The prices given above were taken just after 10.00am on 31 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.

Albidon (ALD): Quarterly Report.

Arc Risk Management (ARC.L): Shares purchases, loan notes and warrants.

Centrom (CET): Director shareholding.

CYC Holdings (CYC): Interims.

DM (DMP): Interims.

First Dental (FDT): Notice of results.

Gippsland (GIP): Q4 financial report.

Henderson Morley (HML): Grant of licence.

IDN Telecom (IDN): Holdings.

Mano River Resources (MANA): Placing confirmation.

Oxford BioMedica (OXB): Trovax Update and clarification.

Pentagon Protection (PPR): Contract gain.

Provexis (PXS): Sirco Distribution Gains.

Scarborough Minerals (SCRB): Strategic investment.

Virotec International: (VTI): Result of Scheme Meeting.

Look out for this week

Monday 31 July – UK Mortgage lending (Jun).

Tuesday 1 August – UK Nationwide house price survey (July).

Wednesday 2 August – nothing of note.

Thursday 3 August – UK interest rate decision, ECB interest rate decision.

Friday 4 August – US unemployment.

The next Penny Share Review will be posted on Monday, 7 August 2006.

Compiled by Andrew McLintock.

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