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Penny Share Review 408

Monday 01 October 2007

An increase in the share price of Rheochem (RHEP) was noted by Saturday’s Independent, as full-year profits rose. A further increase of 0.25p saw the share price reach 15.50p this morning.

Sareum Holdings (SAR) appeared in today’s Times, commenting ahead of full-year results due tomorrow that analysts expect net income of about £192k, compared to last year’s loss of £624k. Despite this news, the shares were unmoved during Monday morning’s trading at 1.125p.

Subsea Resources (SUB) formed part of the small caps section of The Times on Saturday, reporting a 37% increase in the share price after Phillip Richards of RAB Capital and Christopher Harborne increased their stakes. The price was unchanged at 1.375p earlier.

Saturday’s Guardian highlighted an upturn in the share price of Univision Engineering (UVE.L), following increased full-year profits. This was also picked up by The Independent on Saturday, however the shares were unchanged at 2.75p earlier today.

The prices above were taken between 8.41am and 9.05am on Monday, 1 October 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.

Carpathian Resources (CPNR): Trading Suspension on ASX.

CybIT Holdings (CYH): New Contract Agreement.

Earthport (EPO): Holdings in Company.

Eckoh Technology (ECK): Connection Maker TV Division Sale.

Elephant Loans & Mortgages (ELEP): Appointment of FD.

Matra Petroleum (MTA): Sir Michael Jenkins Appointed.

Mercator Gold (MCR): First Gold Production.

Nexus Management (NXS): Trading Statement.

Regen Therapeutics (RGT): Product Launch.

Servoca (SVCA): Acquisition.

Sopheon (SPE): Contract Win.

Stratex International (STI): Update on Turkish Gold Project.

Look out for this week

Monday, 1 October – UK August Consumer Credit, Mortgage Lending.

Tuesday, 2 October – Final Results from Sareum (SAR). Q2 Profitability of UK Companies.

Wednesday, 3 October – KPMG/REC Report on Jobs.

Thursday, 4 October – Bank of England Interest Rate Decision.

Friday, 5 October – Nothing of note.

The next Penny Share Review will be posted on Monday, 8 October 2007.

Compiled by Chris Richards.



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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.