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Penny Share Review 378
Monday 05 March 2007
Saturday’s Independent noted the jump in the share price of Lonhro Africa (LAF) after the Group revealed that one of its 43% owned subsidiaries, Norse Air, had been awarded a two-year contract from the South African government. The paper explained the CEO’s vision to return the Company to its glory days in the 1970s, when under the leadership of tycoon Tiny Rowland, it was one of Africa’s biggest conglomerates. The stock dropped back by 0.5p to 26.25p on Monday morning.
The Daily Express on Saturday briefly noted the small drop in Lupus Capital’s (LUP) share price by 0.5p on Friday after the announcement of a jump in pre-tax profits from £2.43m to £10m. Lupus fell further on Monday by half a pence to 18.75p.
‘Talk of a licensing deal’ lifted shares in ReGen Therapeutics (RGT) on Friday, according to the Daily Express on Saturday. Nevertheless, the shares went into reverse today by 0.075p to 0.95p.
The same paper reported on ‘heavy speculative buying’ in Rift Oil (RIFT.L), moving the stock 0.88p higher on Friday. The oil explorer fell by one eighth of a pence to 6.875p on Monday.
Western & Oriental’s (WEST) prospects are reviewed by the Sunday Telegraph, which highlights the three main challenges of integrating new acquisitions, to buy ever-larger companies and to push up gross margins to 20%. Chairman David Howell plans to complete a £20m fund raising within the next three months to acquire further luxury-end travel companies. He says there is no shortage of acquisition opportunities, but selecting the right one is the difficult part. By the end of 2008, the acquisitions will be done and the management will decide whether to keep the business, move into Europe or sell it. Considering the red day on the markets today, the shares held up well and traded unchanged at 15.5p.
The prices were taken just after 10.00am on Monday 5 March 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.
GMA Holdings (GMA) – Holding.
Maghreb Minerals (MMS) – Interims results.
Media Corporation (MDC) – Advertising update.
Surgical Innovations (SUN) – Notice of results.
Timestrip (TIME) - Patent update.
Toledo Mining (TMC) – Operations update.
Look out for this week
Monday 5 March – UK service purchasing managers index.
Tuesday 6 March – British Retail Consortium retail sales monitor.
Wednesday 7 March – nothing of note.
Thursday 8 March – UK and ECB interest rate decisions at noon.
Friday 9 March – UK industrial production. US non-farm payrolls.
The next Penny Share Review will be posted on Monday, 12 March 2007.
Compiled by Jason Robertson
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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