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Penny Share Review 440

Monday 12 May 2008

Saturday’s Times drew attention to increase in the share price of Mercury Recycling Group (MRG), following release of its results last week, though the shares were 2.25p lower at 23.50p during trading on Monday morning.

The ‘Market Profile’ section of today’s Daily Telegraph featured Roy Stanley, Chairman of Tanfield (TAN), noting that he has come under fire recently regarding standards of disclosure and transparency at the business. The article went on that Mr Stanley is determined to carry on doing deals despite criticism, and has been working on a large reverse takeover for AIM listed Darwen. Readers were reminded of Comeleon, which he floated during the ‘dotcom bubble’ and eventually ran out of cash, but concluded with the quotation, “Although its tempting to take the money and run, I believe I’m just coming into my most creative years.” The shares added 1.50p to reach 92.25p earlier today.

Timestrip (TIME) appeared in today’s Independent, reviewing the technology and how it came about from consumers’ confusion over best before dates. Whilst suggesting the Company’s share price performance since it floated was ‘miserable’, the article did report joint CEO Rueben Isbitsky’s belief that the business is beginning to gain traction, observing contracts with Procter & Gamble and Nestle. Apparently, the product can be adapted to show excessive heat exposure, for use in the medical and food transportation industries. The share price was unchanged at 2.875p this morning.

Prices above were taken at around 9.21am on Monday, 12 May 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.

Advanced Medical Solutions (AMS): Holdings in Company.

Alltracel Pharmaceuticals (AP.): High Court Sanction of Scheme.

Cantono (CTNO): (Formerly Hamsard Group): Statement re New Order.

Cinpart (CINP): Final Results.

Encore Oil (EO.): Drilling Update – Cobra.

Intellego Holdings (IHP): Acquisition.

Northern Petroleum (NOP): Unaudited Preliminary Results.

Plant Impact (PIM): Distribution Agreement.

Tepnel Life Sciences (TED): Abcam Distribution Agreement.

Look out for this week

Monday, 12 May – Results from Cinpart (CINP) and Northern Petroleum (NOP). Proventec (PROV) EGM. UK PPI (April).

Tuesday, 13 May – UK BRC Retail Sales Monitor (April). UK CML Mortgage Lending Data (March).

Wednesday, 14 May – UK Labour Market Report.

Thursday, 15 May – UK Insolvency Petitions Data (Q1).

Friday, 16 May – UK Insolvency Petitions Data (Q1).

The next Penny Share Review will be posted on Monday, 19 May 2008.

Compiled by Chris Richards.

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