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Penny Share Review 412

Monday 29 October 2007

An upturn in the share price of Earthport (EPO) was highlighted in Saturday’s Daily Express, attributed to speculation surrounding strengthening links with IBM and anticipation of a bullish trading update. Earlier today, the share price dipped by 1.50p to 40.50p.

Saturday’s Times highlighted news from Elephant Loans and Mortgages (ELEP) last week that full-year profits are likely to be below forecasts as a result of the credit crunch. However, despite difficulties, the Company said it expected a significantly improved second half, following record levels of enquiries. The article noted downturn in the share price following this news and quoted Ray Boulger, Director of mortgage broker Charcoal, who suggested the market may take a while to turn round and the question was whether people who thought they qualified for prime loans will be prepared to accept sub-prime rates. The share price was unchanged at 0.75p this morning.

Feedback (FDBK) appeared in The Times on Saturday under its “Deal of the day” section, which reported both a fall in the share price as bid talks ended, and upturn on news that Non Executive Director, John Westcott, bought 25,000 shares at 2.75p. Further improvement in the price was witnessed during Monday morning’s trading, where the shares added 0.375p to reach 3.375p.

The Independent on Saturday interestingly reiterated its previous standpoint on PLUS Markets (PMK) by including the same article it featured last week. The piece suggested that the shares are worth hanging on to, as the business looks set “to embark on a major expansion programme”, despite the collapse of talks with project Turquoise. The share price was unchanged at 23.75p this morning.

A downturn in the share price of Synchronica (SYNC) was reported in Saturday’s Independent, on plans to issue new shares revealed last week. However, the price was unmoved at 6.75p during early trading today.

The prices above were taken at around 9.55am on Monday, 29 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.

Amphion Innovations (AMP): Wellgen Series C Financing.

Cambridge Mineral Resources (CMR): Bulgarian Joint Venture.

Cantono (Formerly Hamsard) (CTNO): Holdings in Company.

Carpathian Resources (CPNR): Notice of EGM.

Clerkenwell Ventures (CRK): Holdings in Company.

Discovery Metals (DME): Annual Report and Accounts & AGM Statement.

EMED Mining (EMED): Further Drilling in Slovakia.

Lithic Metals & Energy (Formerly Zambezi Nickel) (LMY): Directorate Change.

Northern Petroleum (NOP): Change of Registered Office.

Real Affinity (RAF): Issue of Equity.

ReGen Therapeutics (RGT): Holdings in Company.

Renewable Energy (REH): CETO Update.

Twenty Plc (TWE): Contract Win.

Look out for this week

Monday, 29 October – UK September Consumer Credit/Mortgage Lending.

Tuesday, 30 October – CBI Monthly Distributive Trades Survey.

Wednesday, 31 October – Nationwide October House Price Index.

Thursday, 1 November – UK October Manufacturing PMI.

Friday, 2 November – UK October Construction PMI. UK Q3 Insolvencies and Mortgage Repossessions.

The next Penny Share Review will be posted on Monday, 5 November 2007.

Compiled by Chris Richards.

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