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Penny Share Review 360

Monday 23 October 2006

The “Broker Buys” section of the Daily Mail on Saturday reported SQC Research’s rating of shares in Cheerful Scout (CLS) as a buy at 1.1p, being significantly undervalued and this advice appeared to be followed, as the share price added 0.08p to reach 1.10p during this morning’s session.

The Times on Saturday commented that shares in Coffeeheaven (COH) had not reacted to the suggestion by Numis Securities that a trading update next month may trigger upgrades, although the price added 2.50p to reach 31.00p this morning.

The Daily Mail on Saturday picked up on Friday’s news that Hill Station (HLL) has had its facility increase refused by its bankers, but that the Company remains confident of finding funding, completing the move to the new site and turning cash generative. The Independent also remarked that the shares were down, as HLL was struggling to find credit, but the share price remained at 2.75p this morning.

Tanfield Group (TAN) appeared in the Saturday Times under its “Rumour of the day” section, which suggested that the share price has benefited from suspicion that a substantial contract will be announced this week from North America. Although no mention was made of this in today’s announcement (please see below), the Company did announce a placing of £20m worth of shares at 40p and the share price fell back by 1.00p to 43.00p during this morning’s session.

The Mail on Sunday provided a brief review of Western & Oriental (WEST), noting that people spend up to £50,000 on its holidays and highlighting the pedigree of David Howell, being Ex Finance Director of lastminute.com. The piece detailed 5 acquisitions made since coming to AIM and that turnover had been increased, but also that founder shareholders taking profits had caused dip in the share price. It concluded that there is potential for a bit of an adventure with the Company, but not one to “bet your pension on”. Following this press attention, the shares were ahead by 1.50p reaching 15.00p during trading this morning.

The prices given above were taken between 9.16am and 9.37am on 23 October 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.

Access Intelligence (ACC): Director Share Purchase.

Alliance Pharma (APH): Syntometrine Acquisition.

Mediwatch (MDW): Interim Results.

Multi Group (MLT): Final Results.

Tanfield (TAN): Placing and Notice of EGM.

Toledo Mining (TMC): Operations Update.

Look out for this week

Monday 23 October – Interim Results from Mediwatch (MDW). Final Results from Multi Group (MLT).

Tuesday 24 October – UK CBI Quarterly Industrial Trends Survey (October).

Wednesday 25 October – US Existing Home Sales (September) and Interest Rate Decision.

Thursday 26 October – UK Mortgage Advances (September). US Weekly Jobless Claim.

Friday 27 October – US GDP (first estimate) Q3 and Michigan Consumer Confidence (October).

The next Penny Share Review will be posted on Monday, 30 October 2006.

Compiled by Chris Richards.

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