Shares: Taking Stock

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The Independent Online
ATLANTIC Caspian Resources, born out of the old Wedderburn property group, is hoping to emerge as a niche oil player. It is betting heavily on developments in Kazakstan where its first field should start producing in a few weeks. Chairman Peter Catto, an accountant, believes ACR can prosper by concentrating on fields the oil majors regard as too small. Kazakstan, he says, is the last great oil lottery. The company, which should announce a near break-even result soon, will later raise more cash, around pounds 3m through a private placing. It has an ADR but wants to upgrade its US share presence. The AIM-traded shares are 22.25p.

TRING International, the budget music group, is planning a cash raising exercise at 5p a share. Once 151p, the shares rose 3p to 8p. The company suffered a pounds 2m loss last year although once exceptional items were stripped out it made profits of pounds 300,000.