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Penny Share Review 382

Monday 02 April 2007

Saturday’s Guardian reported on Corpora’s (CP.L) trading update of 30 March. The shares suffered, despite a generally upbeat statement in which we learnt that the Group had made a positive start to the year and had also booked a good level of maintenance revenue. The share fall was because the statement also included the latest on funding and we found out that another tranche of working capital is required, to be found either through an issue of new shares or debt. So far this morning, there has been no further slide and the stock remains at 5.13p-mid.

Oxford BioMedica (OXB) is enjoying more than 15 minutes of fame and featured again in the weekend press, on this occasion in The Sunday Times. A genuinely congratulatory article towards founders Alan Kingsman and his wife, it focused on their landing of a potential £350m deal with Sanofi Aventis, albeit after many years of investors sinking money into the Company. The risk/reward ratio of biotech investing has been amply demonstrated here. Having had a very good run, it looks like profit-taking has continued, as the shares were off 2.25p at 44.75p today.

The rise in the price of Provexis (PXS) shares was noticed by the Financial Times on Saturday, after the Group had announced a long-term collaboration agreement with Unilever, to develop new uses for its patented ‘Fruitflow’ technology. The IP held by Provexis is for a food/drink additive derived from the tomato and is aimed at the heart health market for which the global market is said to be $4bn. The appetite for stock has not diminished and the shares were up an eighth to 3.5p this morning.

The prices were taken between 9.25am and 9.28am on Monday 2 April 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.

Access Intelligence (ACC): Contract win for Joint Venture.

Braemar Group (BRG): Trading Update.

Dermasalve (DRM): International Distribution Agreement.

EnCore Oil (EO.L): Offshore Gas Storage Feasibility.

Hardide (HDD): Change of Adviser.

Highams Systems (HSS): Directorate Change.

Intelligent Environments (IEN): Holding in Company.

Speymill Group (SYG): Notice of Results.

Look out for this week

Monday, 2 April: CBI Quarterly financial services survey, UK Q4 Mortgage Equity withdrawal.

Tuesday, 3 April: Zambezi Resources AGM; Q4 profitability of UK companies

Wednesday, 4 April: UK Nationwide consumer confidence survey.

Thursday, 5 April: UK Feb manufacturing, industrial output; Bank of England rate decision.

Friday, 6 April: BANK HOLIDAY; NIESR monthly UK GDP estimates.

The next Penny Share Review will be posted on Tuesday, 10 April 2007.

Compiled by Andrew Thacker.

Penny Shares Online - penny shares research and information service.




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.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.