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Penny Share Review 369

Tuesday 02 January 2007

Saturday’s Guardian reported a slip in the share price of Dermasalve Sciences (DRM), after it raised £125k through a placing. However, the downturn did not spill over into today’s early trading, where the price was unchanged at 13.50p. Geoff Foster’s column in the Daily Mail on Saturday looked back upon his 2006 tip, Earthport (EPO) and how it had fallen from 50p highs, as the online gaming sector fell from grace. However, the piece went on that its new CEO, David Fife, has extended its network and the shares now look oversold. The price remained 21.50p on Tuesday morning.

Saturday’s Independent highlighted an upturn in the share price of Knowledge Technology Solutions (KTS) after it secured over £1.8m in new funds. The shares were unchanged at 1.62p during this morning’s trading.

Netcentric (NCS) was named as the best performing stock of the year by yesterday’s Independent, having risen a huge 884%. The article noted that Howard Crosby’s intervention marked a turn in fortune for the Company and a further upturn of 0.175p was seen during trading earlier today, where the share price reached 1.75p.

The Daily Mail on Saturday reported that shares in Nexus Management (NXS) could be worth watching, as the business is valued at £11m and has a 24% stake in Peach Direct, which is worth around £10m. The share price increased by 0.16p to 1.66p during the early session.

Ian Lyall recommended Oakdene Homes (OKD) (which acquired Honeygrove) in the Daily Mail on Saturday as a hidden gem of the house-building industry. The column highlighted that, given its value of 8-times current year earnings, it is at a 20% discount to its peers. The share price added 13.00p to reach 205.50p during the morning’s trading.

Oxford BioMedica (OXB) appeared in the 2007 forecast section of the Daily Telegraph on Saturday and was rated as “Top Share”. The article suggested the possibility of value enhancing deals for the Company’s Parkinson’s treatment, TroVax and LentiVector offerings during the year. Following this positive attention, the shares added 1.50p to reach 43.25p earlier.

Saturday’s Independent suggested that an upturn in the share price of Petmin (PTMN) was due to the clearing of an overhang. The share price continued to move forwards earlier today and added 0.75p to reach 15.50p.

The Independent on Monday named Smart Telecom (SMR) as the worst performing stock of the year, after the shares bombed when the Company was cut off by Eircom for failing to pay bills and lost a 3G license. The share price was unchanged at 0.27p this morning.

Shares in Tecteon (TEO) were ahead following a move into full-year profit, after a disposal and the Company is optimistic about 2007 sales, according to Saturday’s Independent. The share price fell by 0.125p to 2.50p during early trading.

The prices given above were taken at 10.00am on 2 January 2007.

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.

Cytomyx (CYX): Interim Results.

Eicom (EIC): Result of AGM.

Myratech (MYA): Acquisition and AIM Restoration.

Osmetech (OMH): Holdings in Company.

SRS Technology (SGY): Result of AGM.

Zyzygy (ZYZ): Result of AGM.

Look out for this week

Tuesday 2 January – Interim Results from Cytomyx (CYX).UK Manufacturing PMI (December).

Wednesday 3 January – US ADP Employment Survey (December).

Thursday 4 January – UK Consumer Credit (November) and Mortgage Lending Approvals (November).

Friday 5 January – US Unemployment Rate (December).

The next Penny Share Review will be posted on Monday, 8 January 2007.

Compiled by Chris Richards.



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Risk Warning

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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