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Penny Share Review 387

Tuesday 08 May 2007

The Independent on Saturday commented that investors had given a “belated thumbs down” to Enterprise Asia (EPA) after the company announced it would de-list its shares from AIM. The piece went on that a big seller on Friday got traders attention, after little notice was initially given to the announcement and the shares lost half of their value by the close. However, no further decrease was seen in the price this morning, remaining at 9.50p.

Galleon Holdings (GON) was The Times on Saturday’s “Tiddler to Watch”, reporting on the strengthening of its relationship with PepsiCo (please see the announcement below). Following this press attention, the shares added 1.25p to reach 12.00p on Tuesday morning.

Saturday’s Express included Intelligent Environments (IEN) under its “Week of Dealing” section, which noted “smart dealing” on the part of CEO Phillip Blundell, who sold 594,000 shares at 11p having paid 2.5p for them in 2002. The share price was 0.125p off at 10.50p earlier today.

The Daily Telegraph today highlighted rumours that Oakdene Homes (OKD) will announce a £15m fundraising alongside results tomorrow. According to the paper, the funds are thought to be for expanding its land bank in the South-East of England and for acquisitions. Shares in the Company were 3.00p weaker at 207.00p during this morning’s trading.

Scarborough Minerals (SCRB) appeared in the Daily Mail on Saturday, which provided a review of the Company. It noted that putting the business together with Mineral Securities will hopefully bring strength and that the star of MineSec’s portfolio is its 16% stake in Platmin, which has 4 platinum projects in South Africa. According to the article, Keith Liddell, MineSec Chairman, thinks that this has the ability to produce 600,000 oz a year. The shares increased by 3.25p, reaching 57.25p earlier.

Today’s Daily Telegraph reported a scam concerning investors in a number of AIM companies, under which shareholders have been receiving unsolicited calls from people pretending to be Corporate Financiers. The callers make out that they are putting together a bid for the company and offer to buy the shares at inflated levels, after money is handed over to them to cover insurance and shareholders who have been targeted include those of SectorGuard (SGD). The Company’s share price remained at 4p this morning.

Saturday’s Independent noted a downturn in the share price of Tecteon (TEO), as its Managing Director resigned. The price was unchanged at 1.125p during Tuesday morning’s session.

The prices above were taken between 09.39am and 10.27am on Tuesday 8 May 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.

Artisan (ART): Investment Strategy and Pre-let of Industrial Unit.

Galleon Holdings (GON): Re Contract.

Gippsland (GIP): Appointment of London-based Director.

ID Data (IDD): Group Acquisition.

Oxford BioMedica (OXB): Development of OVA System.

Provexis (PXS): Additional Listing.

Seeing Machines (SEE): Glaucoma device Demonstrated.

Virotec (VTI): Director Shareholding.

Look out for this week

Tuesday, 8 May - ReGen Therapeutics (RGT) AGM. UK RICS April House Price Survey.

Wednesday, 9 May - Alliance Pharma (APH) AGM. Bank of England Inflation Report.

Thursday, 10 May - UK Q1 Housing Statistics.

Friday, 11 May - UK April Retail Sales.

The next Penny Share Review will be posted on Monday, 14 May 2007.

Compiled by Chris Richards.

Penny Shares Online - penny shares research and information service.




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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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