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Penny Share Review 418
Monday 10 December 2007
Dateline, the dating agency owned by YooMeadia, is being sold and word in the market is that Capital Ideas (CAPT) could be the buyer, according to The Independent today. There has been no confirmation of this and shares in CAPT dropped by 0.05p to 0.175p during Monday morning’s trading.
The Independent today reviewed the progress of companies it has featured in its ‘Small Talk’ section over the year. Chromogenex (CGX) was one such organisation and the article reported its shares had halved since it was tipped in the summer. However, this press attention failed to negatively impact the price further, which remained 4.875p earlier.
The Independent on Saturday said that shares in Discovery Metals (DME) have “been flying” recently, rising by over a fifth this month on rumours of a positive resource update. An update did emerge this morning (please see below), though the share price fell back by 1.00p to 23.50p subsequently.
Today’s Daily Express noted the floating of Zimbabwe focused investment fund, LonZim, on AIM by Lonrho (LONR). The fund is raising £29.61m at 100p and will focus on infrastructure and support services. The article pointed out how turbulent a state Zimbabwe is, with life expectancy of 34, but also commented that LonZim CEO, Geoffrey White, thinks the economy will recover. Shares dipped by 0.25p to 46.25p earlier today.
The weekend’s Financial Times reported that following a fall in the share price of William Ransom & Son, after it had to recall products, broker Daniel Stewart was advising clients to switch to Neutrahealth (NUT), which outsources all manufacturing. However, despite this advice, the shares were unchanged at 10.25p this morning.
Servoca (SVCA) appeared in The Times on Saturday, highlighting its acquisition of International Security and Surveillance and ISS Special Projects. These were announced by the Company on Friday, but the news left the share price unaffected on Monday morning, remaining 44.50p.
A fall in the share price of Venteco (VTO) was picked up on in The Times on Saturday, after the Company warned of order delays. The downturn appeared to spill over into early trading today, where the price fell by 0.75p to 11.00p.
The prices above were taken at 10.53am on Monday, 10 December 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.
Central China Goldfields (GGG): Nimu Business License Granted.
Discovery Metals (DME): Miscellaneous.
Empyrean Energy (EME): Bondi Prospect Update.
Frontier Mining (FML): AIM Admission of Shares.
IDOX (IDOX): Final Results.
Networkers International (NWKI): Trading Update.
Origo Sino-India (OSI): $100m Fund Launch and Exercisability of Warrants.
Oxford BioMedica (OXB): Trovax Phase III Trial.
Renewable Energy Holdings (REH): Agreement to buy Windfarm.
Virotec International (VTI): Sale of Shares in HYR.
Look out for this week
Monday, 10 December – Results from IDOX (IDOX). Rightmove UK House Price Survey (December) and UK PPI (November).
Tuesday, 11 December – UK Trade (October) and UK CML Mortgage Lending Data (October).
Wednesday, 12 December – UK Labour Market Data.
Thursday, 13 December – Global Marine Energy (GME) and Intandem Films (IFM) AGM. UK New Construction Orders (November).
Friday, 14 December – Nothing of note.
The next Penny Share Review will be posted on Monday, 17 December 2007.
Compiled by Chris Richards.
Penny Shares Online - penny shares research and information service.
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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