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Penny Share Review 405

Monday 10 September 2007

A quite extensive article and associated commentary on Croma Group (CMG) featured in The Sunday Telegraph, the upshot of which was that if John French and his other incumbents don’t start to get the tills buzzing in double-quick time, then a bidder may come along to see if it can do better. Described as a “trading opportunity for braver investors”, it goes on to say that, “Either French…will deliver better numbers triggering a re-rating, or a rival will convince its investors that they can do a better job and try to get away with a cheeky bid. Either outcome should result in an improved share price.” However, there was little reaction to the article and the shares remained at 3.63p this morning.

The Times on Monday picked up on Fulcrum Pharma’s (FUL) partnership with Lorenz Life Sciences and the anticipated advances in virtual modelling for drug development. Despite the feature, the shares have failed to respond and were unchanged at 3.5p at the time of the announcement and again today.

According to The Daily Telegraph on Saturday, Interactive Gaming Holdings (IGH) has stopped taking bets altogether, after the proposed funding line from General Capital Venture Finance failed to arrive. The Group has a problem of non-payment by two high-roller clients, which it cannot enforce under law. In addition, if account holders are having difficulty getting their money back, the outlook for shareholders seems depressingly bleak. The shares are suspended.

The Midas column of the Financial Mail on Sunday followed up its tip on Plus Markets Group (PMK), with an update advising readers to “Hold on.” Midas believes that its year high of 32p will be seen again “within the year”, as Plus attempts to grow and rival the LSE at many levels. A modest 0.25p rise was seen in early trading, the stock now standing at 24.25p.

Today’s Daily Telegraph highlighted the failure of takeover talks at World Television (WTV), with an apparent offer of 0.3p per share being rejected. Controlling shareholders and management, supposedly, would not accept any less than 1p and the offerors would only go as high as 0.5p. Meanwhile, the shares have been cancelled from trading on AIM at 0.14p, so anyone still in will have to bear with their off-market paper in the hope that a cash bidder reappears.

The prices above were taken at 10:36 on Monday, 10 September 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.

Delling (DLG): Interim Results.

Desire Petroleum (DES): Option exercise.

Griffin Mining (GFM): Drilling Results.

Intellego Holdings (IHP): Holding in company.

Minco (MIO): Drilling Results.

Newmark Security (NWT): Trading Statement.

Pentagon Protection (PPR): Private Placement off New Ordinary Shares.

Stanelco (SEO): Interim Results.

Synchronica (SYNC): Interim Results.

ValiRx (VAL): Cancer Research Technology trials update.

West African Diamonds (WAD): Drilling results.

Zambezi Nickel (ZNI): AGM and change of name to Lithic Minerals and Energy Limited.

Look out for this week

Monday, 10 September – Interims from Delling (DLG), Stanelco (SEO) and Synchronica (SYNC); UK August PPI and July house prices.

Tuesday, 11 September – Interims from Alltracel Pharma (AP.L) and Oxford BioMedica (OXB); UK July trade.

Wednesday, 12 September – Interims from Alliance Pharme (APH), Amphion Innovations (AMP), Ennstone (ENN), and Mavinwood (MVW); UK labour market report.

Thursday, 13 September – UK RICS August house prices, Retail Sales, Bank of England/Gfk August inflation attitudes survey.

Friday, 14 September – Finals from Coffeeheaven (COH), EGM for Red Rock Resources (RRR).

The next Penny Share Review will be posted on Monday, 17 September 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.

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