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Penny Share Review 431

Monday 10 March 2008

Access Intelligence (ACC) appeared in the Sunday Telegraph, which provided a review of the business. It commented that the Board may have been ‘sold a pup’ in Management Services, given two contracts that were being relied upon had evaporated. Despite optimism that the business will return to profit this year, its share price continues to fall and it seems difficult to build momentum for growth, according to the article. Interestingly, it was noted that there are various candidates to potentially take over and the paper also included an ‘expert eye’ on the organisation from Killik and Co founder Paul Killik, who raised questions over management’s ability to execute the acquisitive strategy and commented it should only be considered by investors with “voracious risk appetites”. The shares were 0.125p lower at 2.875p earlier today.

The ‘Small Caps’ section of Saturday’s Times noted the £125m fundraising by Polo Resources for acquisitions and that Caledon Resources (CDN) could be a target, after the former had built up a 7% stake in the business. The piece remarked on an increase in the share price, though despite this coverage the price was 2.00p lower at 54.00p on Monday morning.

Further speculation about the potential for oil in the Falklands comprised part of The Daily Telegraph today, particularly discussing Desire Petroleum (DES), among others. The piece cited rumours that the Company’s drilling partner could be Arcadia Petroleum, partly owned by John Fredriksen, the Norwegian-Cypriot shipping tycoon. Furthermore, expectations have been raised that exploratory drilling could soon be under way and the article reported there could be over 14bn barrels of oil offshore of the islands, but pointed out this is a high-risk exercise and that some investors had perhaps got ahead of themselves. Nevertheless, the increase in price continued this morning, as a further 1.25p was added reaching 77.00p.

David Shand’s Market Report section of Saturday’s Daily Express featured Earthport (EPO), noting increases in the share price, as traders reckoned a Middle-Eastern investor was stake building and talk that a big overseas contract was due abounded. The positive momentum continued earlier today, as the shares added a further 1.50p to 70.00p.

The Times on Saturday reported that Elephant Loans & Mortgages (ELEP) had agreed rescheduled terms with Trafalgar Capital, extending the term and deferring capital repayments. The shares were unchanged at 0.325p.

The Daily Express on Saturday detailed that news of Director share-buying lifted the price of Energy Technique (ETQ), though the price was unchanged at 12.25p this morning.

The Independent on Saturday highlighted downturn in the shares of Mission Capital (MCAP) on announcement of a £1.8m full-year loss last week, however the price recovered by 0.5p to 3.875p this morning.

Derek Pain’s ‘No Pain, No Gain’ section of the Independent on Saturday featured Nighthawk Energy (HAWK), commenting that it has been the best performer in the portfolio in recent weeks, after progress in development at the Devon field and increasing landbank at Cisco Springs. The upturn continued on Monday morning, where the shares added 1.00p to reach 62.75p.

Last week’s news of a deal between ice hockey team, the Sheffield Steelers, and Oak Holdings (OAH) for an arena at the YES! Project was reiterated by The Times and Daily Mail on Saturday, though this attention failed to impact the price, which stayed 46.00p.

Oxford BioMedica (OXB) increased ahead of results (announced this morning, please see below), according to The Independent on Saturday, though in actual fact the shares fell back by 0.75p to 27.25p following the announcement.

Saturday’s Independent reported upturn in the price of Teleunit (TLU), as the dispute with Telecom Italia was settled. There was no further change during Monday morning, where the shares remained 3.75p.

Prices above were taken at around 11.23am on Monday, 10 March 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.

DawMed Systems (DSY): Holdings in Company.

Fulcrum Pharma (FUL): Appointment of new CEO.

Imaginatik (IMTK): Holdings in Company.

Northern Petroleum (NOP): Adriatic Resource Update.

Oxford BioMedica (OXB): Preliminary Results, Phase III Trist Study and Board Appointment.

Petmin (PTMN): Interim Results.

Plant Impact (PIM): BugOil Trial Results Update.

Real Estate Investors (RLE): Acquisition.

ReGen Therapeutics (RGT): EU Distributor Appointment.

Stratex International (STI): Final Results.

Synchronica (SYNC): Seal of Excellence Award.

Look out for this week

Monday, 10 March – Results from Oxford BioMedica (OXB), Petmin (PTMN) and Stratex International (STI). UK Producer Prices (February).

Tuesday, 11 March – Results from Advanced Medical Solutions (AMS) and Ennstone (ENN). UK RICS House Prices (February).

Wednesday, 12 March – Results from Ultimate Finance Group (UFG). UK Trade (January) and Budget Speech.

Thursday, 13 March – Bank of England Inflation Attitudes Survey.

Friday, 14 March – Results from Alliance Pharma (APH) and Business Control Solutions (BCT).

The next Penny Share Review will be posted on Monday, 17 March 2008.

Compiled by Chris Richards .

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