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Penny Share Review 438

Monday 28 April 2008

The ‘Week of Dealing’ section of Saturday’s Daily Express noted Ennstone (ENN) shares reaching “rock bottom” a month ago. However, it went on that improvement to the price followed investment by Directors McLeod and Gadsden, and the shares moved better by 0.25p to 30.25p earlier today.

Upturn in the shares of Mediasurface (MSR) was highlighted by Saturday’s Independent, following a preliminary offer approach, and the price increased by a further 0.375p to reach 9.125p this morning.

The Independent on Saturday suggested that recruitment business Networkers International (NWKI) is “bucking the downturn”, after annual results revealed increased turnover and pre-tax profits, though the piece concluded that the market is not looking at the Company differently, rating the shares as a ‘hold’. The price remained 27.00p following this press attention.

Notable increase in Scotty Group (SCO) was reported by Saturday’s Independent, on market rumours of a major contract win. The momentum appeared to spill over into this week, as the shares rose by a further 0.075p to reach 2.075p.

Tanfield (TAN) appeared in today’s Daily Telegraph under the headline “Tanfield loses its lustre as the stock shorts”. The article pointed out that investors are asking whether the story is more hype than substance, and detailed various analysts’ concerns over the high cash-burn rate, whether it can deliver on plans to ramp up production by 2009 and communication with the market. However, Chairman Roy Stanley insists that the bulging order book is not ‘pie in the sky’ and commented, “as a business, we’re in great shape.” Meanwhile, The Times featured the Company on Saturday in its ‘Tiddler to watch” section, despite Investec cutting its recommendation to ‘sell’ with an 87p price target. The shares were 2.50p lower at 94.25p earlier today.

Prices above were taken at around 9.46am on Monday, 28 April 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.

Alliance Pharma (APH): Share Options.

Appian Technology (APH): New Contract.

Earthport (EPO): Strategy Update.

Micap (MIC): Corporate Review.

Renewable Energy Holdings (REH): Preliminary Results.

Sinosoft Technology (SFT): Preliminary Results.

Speymill (SYG): Macau Property New Joint Venture.

Stanelco (SEO): AGM and Interim Management Statement.

Trochus (TRO) (Formerly SRS Technology): Statement re Cancellation.

Vphase (VPHA): Reporting Accounts and AGM.

Look out for this week

Monday, 28 April – Results from Renewable Energy Holdings (REH) and Sinosoft (SFT). Metals Exploration (MTL), Stanelco (SEO) and Stratex International (STI) AGMs. Hometrack UK House Price Survey.

Tuesday, 29 April – Results from Surgical Innovation Group (SUN). UK BSA Lending Figures (March).

Wednesday, 30 April – Nationwide House Prices (April).

Thursday, 1 May – ValiRx (VAL) AGM. UK Manufacturing PMI (April).

Friday, 2 May – UK Construction PMI (April).

The next Penny Share Review will be posted on Tuesday, 6 May 2008.

Compiled by Chris Richards.

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