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Penny Share Review 396

Monday 09 July 2007

According to the Daily Express on Saturday, shares in Angel Biotech (ABH) had improved following the deal with Material Medica Holdings, though no further change to the price occurred earlier today, which remained 0.325p. Saturday’s Independent noted an increase in the share price of Coffeeheaven International (COH), as 21% growth in the first quarter was announced. However, the price was 0.25p lower this morning at 41.50p.

Parallel Media (PAA) was reviewed by today’s Independent, suggesting the golf-focused business is perhaps a “cannier bet” than Monty ever winning a major. The piece remarked that the market has somewhat ignored a string of positive newsflow from PAA and that some say the sponsorship deal with Omega, for the Mission Hills World Cup, is the largest deal in Golf history. It concluded that the Company looks to be emerging from the ashes of its past and could be well placed to benefit from the explosion of interest in golf in Asia. A 0.125p gain was witnessed earlier today, where the share price reached 1.50p.

Derek Pain’s “No Pain, No Gain” section of Saturday’s Independent featured Nighthawk Energy (HAWK). Mr Pain explained that, although he tended to steer clear of resources companies, he may be tempted to add HAWK to his portfolio. Highlighting that there are men involved with the business whom he had known for many years and talk suggested the Company has sufficient resources for the shares to be worth over 100p, the article gave an upbeat view of the organisation. It went on that, unusually for a resource play, it is operating in a politically stable and friendly environment, being the US, and has already achieved considerable gas success, with more discoveries predicted. There are high hopes it will be making a profit within 18 months, but despite this positive coverage, the share price dropped by 0.75p to 48.00p earlier.

Saturday’s Express highlighted a surge forward in the share price of Oxford BioMedica (OXB) on news of its license agreement with Children’s Hospital Boston, before falling back a little. The momentum did seem to spill over though, as the shares added a further 0.75p to reach 41.25p during this morning’s session.

The prices above were taken between 9.38am and 10.18am on Monday, 9 July 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.

Braemar Group (BRG): Issue of Equity.

Caledon Resources (CDN): Listing of Loan Notes.

Claims People (CLM): Group Corporate Update.

Company Health Group (CHT): Admission to PLUS Markets.

Emed Mining (EMED): Public Drilling Report.

Global Marine Energy (GME): Statement Re 2007 Results.

IDOX (IDOX): Interim Results.

Kryso Resources (KYS): Result of AGM.

Matra Petroleum (MTA): Successful Gas Test.

Proventec (PROV): Final Results.

Quonnectis (QTI): Re Joint Venture.

Tepnel Life Sciences (TED): Acquisition.

Tertiary Minerals (TYM): Statement Re Suspension, Interim Results and AIM Restoration.

Look out for this week

Monday, 9 July – Results from Proventec (PROV), IDOX (IDOX) and Tertiary Minerals (TYM). UK PPI (June).

Tuesday, 10 July – UK May Trade Data.

Wednesday, 11 July – Nothing of Note.

Thursday, 12 July – Mano River Resources (MANA) AGM. UK RICS House Price Survey (June).

Friday, 13 July – Nothing of Note.

The next Penny Share Review will be posted on Monday, 16 July 2007.

Compiled by Chris Richards.

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