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Penny Share Review 397

Monday 16 July 2007

The weekend’s FT featured African Diamonds (AFD), noting a drop in the share price despite an outperform rating from RBC. The article suggested short selling might be at work “damping prices, with talk of potential bidders”. However, the share price remained unchanged at 95.50p this morning.

The Independent on Saturday reported an upturn in the share price of Bede (BED), as the Company announced it was in talks with an unnamed bidder, commenting that the shares had taken a “hammering” since listing at 101p. The momentum appeared to spill over into Monday morning’s session, where the shares added a further 0.25p to reach 7.00p.

Peter Temple’s portfolio column in the FT at the weekend extolled the virtues of getting ‘out and about’ and visiting companies in which investments are held. One of these was CareCapital (CARE) and Peter visited its health centre in Berlin, an activity he regarded as important given that the business has similar operations on its books. Following this press attention, the share price added 0.75p to reach 31.25p during Monday morning’s trading.

Saturday’s Daily Express remarked that a positive update from the Margarita Project lifted the share price of Empyrean Energy (EME) and a further increase of 4.00p occurred earlier today, where the price reached 51.50p.

Tanfield Group (TAN) appeared in the Mail on Sunday, which provided a review of the business’s activities, noting the transformation of Upright International since its acquisition. The article commented that the aerial access market is expected to grow by 8-10% per annum until 2012 and CEO, Darren Kell, thinks the Company can gain a 10% global market share within three years. The article concluded that TAN has huge potential and rated the share as a ”Buy and Hold”. The share price added a further 2.75p, reaching 196.50p during trading earlier today.

The prices above were taken between 10.01am and 11.01am on Monday, 16 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.

Albidon (ALD): Issue of Incentive Options.

Ariana Resources (AAU): Holdings in Company.

Appian Technology (APN): Change of Advisor.

Encore Oil (EO..L): Drilling Commences.

Maghreb Minerals (MMS): Additional Fundraising.

Media Corporation (MDC): New Office Launched.

Meriden (MRD): Director Declaration.

Newmark Security (NWT): Final Results.

ReGen Therapeutics (RGT): Re Contract.

Tepnel Life Sciences (TED): Extends License Agreement.

Look out for this week

Monday, 16 July – UK Government House Price Data (May).

Tuesday, 17 July – UK CPI (June).

Wednesday, 18 July – UK Labour Market Report.

Thursday, 19 July – UK BBA Mortgage Lending Data (June) and Retail Sales (June).

Friday, 20 July – UK Preliminary Q2 GDP.

The next Penny Share Review will be posted on Monday, 23 July 2007.

Compiled by Chris Richards.

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