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Penny Share Review 432

Monday 17 March 2008

Ennstone (ENN) appeared in the Daily Express on Saturday, noting Chairman Vaughan MacLeod’s acquisition, building a 2.7% holding. Despite this however, the shares were 0.25p lower this morning at 28.50p.

The Daily Telegraph today included a market profile on John Smith, CEO of First Artist Corporation (FAN). The piece commented that with a strong football transfer market, the expectation might be that the Company is ‘in vogue’, however Mr Smith noted Fund Managers’ aversion to microcaps at the moment. Apparently, he has looked into a management buy out in the past, but this is not on the cards for now. The football side of the business is performing well, hitting targets during the January transfer window, and the contacts built up from this side are useful in light of other activities, though this press attention failed to impact the share price, which remained 66.50p.

The Independent on Saturday rated Oxford BioMedica (OXB) as a ‘Cautious Hold’, highlighting its emphasis on TroVax and that Investec analysts advise selling, as final trial results will not be available for some time. The shares were 0.75p lower at 22.50p earlier.

Scotty Group (SCO) appeared in Derek pain’s “No Pain, No Gain” section of Saturday’s Independent. Mr Pain commented on the possibility of profit exceeding £1m this year and a good order book, going on that the shares could be suffering from punishment of all small caps, as some are switching into what they believe to be safer havens. Another contributor may be that ‘false dawns’ from the Company might have blunted enthusiasm. Mr Pain believes SCO could become a takeover target, though a bid could be little comfort to longer-term shareholders, but following this press attention, the shares added 0.085p to 1.26p.

Saturday’s Times reported that Vision Media Group (VMG), formerly Screen FX, had raised more than expected in a recent Placing that totalled £940,000. This was also pointed out by Saturday’s Express. Nevertheless, the share price was 0.50p weaker at 7.50p during earlier trading.

Prices above were taken at around 10.36am on Monday, 17 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.

Albidon (ALD): Uranium Targets Namakande and Issue of Incentive Options.

Carpathian Resources (CPNR): Directorate Change.

DawMed Systems (DSY): Memorandum of Understanding.

Empyrean Energy (EME): Partner Announcement.

IMS Maxims (IMX): Acquisition.

Matra Petroleum (MTA): New License Award in Hungary.

Range Resources (RRL): Half-Yearly Report.

Scotty Group (SCO): Contract Win – Diamond.

Tarquin Resources (TQN): Change of Advisor.

Tepnel Life Sciences (TED): Final Results.

Van Dieman Mines (VDM): Holdings in Company.

Vision Media Group (VMG): Sale of TrainFX Assets.

Look out for this week

Monday, 17 March – Results from Range Resources (RRL) and Tepnel Life Sciences (TED). Bank of England Quarterly Bulletin.

Tuesday, 18 March – First Dental Laboratories (FDT) AGM. UK CPI (February).

Wednesday, 19 March –UK Labour Market Data and CBI Industrial Trends Survey (March).

Thursday, 20 March – Results from Cheerful Scout (CLS). UK Retail Sales and CML Mortgage Lending (February).

Friday, 21 March – UK Bank Holiday.

The next Penny Share Review will be posted on Tuesday, 25 March 2008.

Compiled by Chris Richards .

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