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Penny Share Review 424

Monday 21 January 2008

Penny Share Review 424 Shares in Artisan (ART) suffered as a result of a warning the credit crunch was hitting sales, according to Saturday’s Times. This was also picked up on by The Independent on Saturday, however, the shares were unchanged at 76.00p during early trading today.

Saturday’s Daily Mail noted St Helens Capital has a target price of 8p on Dermasalve Sciences (DRM) and that the recent deal with MG Advice should lead to a re-rating. Following this coverage, an increase of 0.125p occurred earlier, lifting the share to 4.25p.

The Times on Saturday featured Kleenair Systems (KSI), commenting that the share price had risen after the Company announced Objective Capital analysts issued a 25p price target on the shares, and that Chairman Lionel Simons suggested this was too low. This also comprised part of Saturday’s Daily Express, though there were no further changes to the price earlier today, which remained 22.50p.

Mediwatch (MDW) shares increased in value on confirmation of an approach over a potential offer, according to The Independent on Saturday. A further increase of 2.25p was witnessed during trading this morning, as the price rose to 14.75p.

Upturn in the share price of Synchronica (SYNC) following news of Director buying and a strong trading update was noted by The Times on Saturday, and the momentum appeared to spill over into Monday’s trading, where the price added 0.25p to reach 7.375p.

Tanfield (TAN) appeared in the The Sunday Telegraph, which rated the shares as a ‘buy’, despite the recent decline in price. It commented on the Company’s announcement last week that it knew of no reason for the fall in price and that business was ahead of last year, with orders at the acquired Snorkel ahead of last year. The article concluded, “For the bold long-term investor, this might represent a good opportunity to pick up some stock”, but the price slipped by a further 3.25p to 101.25p this morning.

The prices above were taken at 10.33am on Monday, 21 January 2008.

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.

Alltracel Pharmaceuticals (AP..L): Trading Statement and Possible Offer.

Appian Technology (APN): Contract Win.

Deal Group Media (DGM): Contract Win with Citibank.

Eckoh Technology (ECK): New Contracts.

Galleon Holdings (GON): Re Agreement.

Lonrho (LONR): Bytes & Pieces Update.

Mano River Resources (MANA): Appointment of Non-Exec.

Pantheon Resources (PANR): Change of Offices.

Proventec (PROV): NHS Tender.

Red Rock Resources (RRR): Update.

TomCo Energy (TOM): Letter of Intent Signed.

Look out for this week

Monday, 21 January – Rightmove UK House Price Survey (January) and UK Public Finances (December).

Tuesday, 22 January – UK CBI Quarterly Industrial Trends Survey.

Wednesday, 23 January – UK Services Output (November).

Thursday, 24 January – UK BBA Mortgage, Unsecured Lending Figures (December).

Friday, 25 January – Nothing of note.

The next Penny Share Review will be posted on Monday, 28 January 2008.

Compiled by Chris Richards.

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