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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Promethean | PTH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3.125 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.125 | 3.125 |
| Top Posts |
|---|
Posted at 04/10/2003 12:51 by crystalclear are considering options to maximise return....Like the large shareholders form a consortium to bid for the company's assets? And then the less they pay the better, as they are only buying what they already own, and some of the cash would go to the small shareholders. Then when they relaunch things, they will own say 100% instead of say XX%. Maybe they don't like the idea of instututions always bailing out the small shareholders and this represents a chance to get even. Just cynically thinking outloud. Thoughts are based on mistreatment of small investors that I have seen, and is completely unfounded speculation re PTH. Treat it as humour and not as a prediction! |
Posted at 15/9/2003 15:14 by landsker well the market obviously thinks the break up value is worth no more than the current 5p share price, what a shambles of a company this has been, good riddance to the bosses who stepped down today, they are ok they have made a tidy amount out of the ppl venture, more than can be said for its investors |
Posted at 21/6/2003 13:43 by gazzabutty sounds like we tore them apart! McCall didnt get the nod, however a consultation period with shareholders begains next week to decide the company's future.from the Scotsman PPL faces liquidation or sell-off ANDREW BEACH DIRECTORS of PPL Therapeutics, the fallen star of Scotland's biotechnology sector, will begin talks with shareholders next week to choose a future route for the company, with liquidation or sale firmly on the agenda. At what participants called a stormy AGM yesterday - held behind closed doors with the media barred from attending - irate private investors took the company to task over the collapse of its flagship product and the announcement that up to 90 per cent of staff faced redundancy. However, PPL maintained the support of its key institutional investors, which allowed it to see off a challenge from its third biggest shareholder, hedge fund Metage Capital, which had sought the appointment of a new non-executive director, Bill McCall. McCall's election was defeated, with 50.8 million votes against and 27.8 million in favour. However, rogue shareholder Paul Scott, who failed in his attempt to wind up the Dolly the sheep company earlier this year, called the poll result a "major protest vote". "The management can't draw any comfort from that," he said after the three-hour meeting. On Wednesday, the company stunned markets by announcing that German drugs giant Bayer had put on hold a project to commercialise recAAT - a lung disease medicine made from the milk of genetically modified sheep. PPL said it would now concentrate on the development of Fibrin 1, a refrigerated tissue sealant that speeds up blood clotting during operations. After yesterday's meeting, PPL chief executive Geoff Cook told The Scotsman he had outlined to shareholders the company's options for the future. "The first option is to build the business around Fibrin 1. The alternatives are to sell the company, or to liquidate it and return cash to shareholders." He said the company would start a "consultation period" with shareholders next week. Meanwhile, accountancy firm KPMG was working on a strategic review of the business. Tom Sharp, a business analyst from Metage who attended the meeting, said management would have to "put something very coherent in front of shareholders" to justify continuing with the development of Fibrin 1. "The history of PPL is littered with failed products," he said. Cook said that at the meeting he was asked "some very direct questions, many of which related to the valuation the company was given when it floated". He went on: "Some of the criticism was I think a little unfair. The sector as a whole has taken a real battering, and also the current management team has only been in place since the start of last year, and we have worked to extract value from the company. "But there were a lot of pointed questions as to whether we had destroyed the company's value and whether the company had a future. "I laid out the options, and really it is now up to shareholders to decide on the company's future. The company is consulting with shareholders and is looking for a clear steer from them as to what is the preferred route." Scott told The Scotsman that he and other private shareholders at the meeting "absolutely tore into the directors". "The board are clinging on to their jobs - they are laying off 90 per cent of the workforce but not a single director has resigned or taken responsibility." He said the company should look for a buyer as soon as possible. You can't have a listed company with only 25 staff and just one product. The whole thing is a dreadful situation." |
Posted at 22/5/2003 10:41 by dell314 Huge - I'm not sure whether Mr.Gyllenhammer's interests coincide with ours.... (P.S. Times registration is free). ‘Value investor’ lobbies Aortech Victoria Masterson PETER GYLLENHAMMAR, the Swedish “value investor”, is lobbying the board of Aortech to invest its £6m cash pile into his property businesses. He is thought to have told directors of the Bellshill medical device firm that they could reap returns of more than 10% if they moved the firm’s cash out of the bank and into his property companies, which include Montpellier Group and YJL Homes, both UK companies registered at the same address in Cornhill, London. Gyllenhammar, who owns 9.81% of Aortech, claims the firm could make its cash work harder, allowing it to invest more in its Australian Elast-Eon business, which has developed a polyurethane material for body implants. A source close to Gyllenhammar said: “I think it’s important when there is so much cash on the balance sheet in relative terms — £5m to £6m is a lot of money — that in a low-interest, low-inflation scenario you don’t put it on bank deposit at 3%. Property can yield 8% to 9%, so rather than make £200,000 of interest, you can make £500,000 or £600,000 or £700,000 income and get a far better resource to invest in the Elast-Eon business.” An industry source said Aortech was “a medical devices company not a property leasing company,” and added: “) isn’t interested in the business, he’s just interested in the cash.” Another industry source claimed that Gyllenhammar had a classic modus operandi that involved agitating boards to “sell assets to him for less than they’re worth or to buy assets from him for more than they’re worth.” “The question is are these deals being done on commercial terms?” the source asked. Gyllenhammar dimissed these criticisms and insisted any claims of financial pressure were “absolute nonsense”. “I am a business developer and sometimes we act as a catalyst of change,” he said. “Sometimes you initiate consolidation of an industry which is in need of consolidation.” Gyllenhammar said he was interested in buying more shares in Aortech, which has ditched its plans to commercialise a polymer heart valve in a bid to reduce its cash burn. He has also reduced his stake in Murray Financial, the Edinburgh Aim-listed cash shell, from 29% to 10%, but is still thought to be working with Jonathan Rowland, the former dotcom entrepreneur, on a bid to have the company broken up and its cash returned to shareholders. |
Posted at 19/2/2003 11:33 by isis Goodbye, Dolly The untimely death last week of Dolly the sheep has prompted a rapid rethink at the shareholder action group targeting PPL Therapeutics, the biotech company that helped to create her. The group, led by Paul Scott, the serial rebel investor, wants a change of strategy at PPL or the return of cash to investors, and had used SaveDollyThe-Sheep.c A doleful missive from Mr Scott yesterday explained that, for obvious reasons, it has chosen www.RIPDollyTheSheep |
Posted at 30/1/2003 15:21 by tony14 RNS Number:8202GPPL Therapeutics PLC 30 January 2003 Date: Thursday 30 January 2003 Contact: Geoff Cook, Chief Executive Officer Lindsay Dunsmuir, Chief Financial Officer PPL Therapeutics plc Telephone: 0131 440 4777 Alistair Mackinnon-Musson Philip Dennis Hudson Sandler Telephone: 020 7796 4133 Email: ppl@hspr.co.uk PPL Therapeutics plc Update on status of disposal of Regenerative Medicine business As previously announced in the company's Preliminary Results (March 2002), PPL Therapeutics plc (PPL) has been in discussions with a number of interested parties concerning the possible disposal of its xenograft and stem cells programmes in the USA. These discussions continue and PPL has today entered into an exclusive negotiating period with US-based investors to dispose of PPL's interest in the programmes in return for a minority equity stake in the new venture going forward. Both parties are working together with the intention of concluding terms for the disposal as quickly as possible. Ends |
Posted at 21/1/2003 20:04 by crystalclear isisYou are right. Its big game poker. Big players could be wondering about letting it go bust and hoping to buy bits off the receivers, or letting it be refunded, knowing they they could increase their stake where lots of private investors couldn't. It took me some time to realize that if you can afford to maintain your stake, then it doesn't matter what the share price is when refunding occurs: hence its the small guy that gets shafted by dilution and the big guy actaully can benefit by increasing his stake at low prices. The small guy has the advantage that he can buy without moving the price, is never pressured by others to track, match or exceed an index, can take risks which you wouldn't want somebody to do with your pension, etc, so its not all to the same persons advantage. There really is a catch 22. I have seen companies go under because the low price leads to dilution and dilution leads to low prices. When nobody has a stomach for it, including the banks, that's it, game over. I helped out one company that had just a few days cash left. The shares are up because the danger is over, and because the danger is over, others have joined in at a higher price. If the market was not so pessismistic it could almost start a virtuous circle! Back to PPL. The management must know that fund raising is getting harder and if they don't find cash from their own assets they could be filing receivership paperwork sometime - unless they have a dirty deal, a firm offer of finance to the detriment of the small shareholders, which they are planning to use. I'm personally in favour of trusting the management are honest, and hoping they can sell the transpantation stuff to fund Dolly and family. |
Posted at 03/1/2003 16:30 by james8 I can see it continuing to bounce around this level- with institutions offloading stock when they get the opportunity and retail investors buying on the dips. |
Posted at 16/12/2002 00:21 by eugene1234 Small investors threaten to break up PPL ANDREW MURRAY-WATSON amurraywatson@scotsm PAUL Scott, the activist investor at the centre of an attempt to break up Edinburgh biotech firm PPL Therapeutics, upped the pressure on the beleaguered firm yesterday, after his action group became the largest shareholder block. Scott claims the group, which represents disenchanted small investors in PPL, now holds 11.1 of shares - ahead of INVESCP Perpetual UK with 10.9% and Aberforth Partners with 10%. The action group wants to unlock value in the company by returning its cash pile to shareholders and to seek takeover bids from third parties. Scott said: "In the last three days, 22 new supporters have joined, meaning that the group now represents an unprecedented 117 private shareholders in PPL Therapeutics. Furthermore, 18 existing shareholders - including myself - have taken advantage of the lower share price to buy more shares. The widespread buying sent PPL’s shares soaring 33%, or 1.75p, to 7p on the back of some frantic buying. Scott added: "We are expecting a response from the company any day, which has now taken about a month for them to prepare - typical of the disdain reserved for small shareholders at most struggling companies. "PPL badly needs an agent provocateur to make something happen. In the absence of any news from the company we can only assume the worst - ie more cash burn, with no prospect of a return for shareholders." But a spokesman for PPL said: "Paul Scott will be treated like any other shareholder of the company. You can assume that if he requests a meeting, we would very much consider it." Scott has a history of taking the cause of the underdog to break up companies which he perceives are underperforming. In the past he has targeted Expocentric, Actinic, Teamtalk and Protagona. He wants to force PPL to hold an extraordinary general meeting in a bid to leverage the votes of his action group. PPL employs close to 150 people, the bulk of which are based in Edinburgh. Any successful attempt to break up the company would inevitably lead to large scale job losses and deprive Scotland of one of its highest profile biotech prospects - which achieved world renown in 1997 with the cloning, in partnership with the Roslin Institute, of Dolly the sheep. The company is currently valued at about £8m, despite having an estimated £20m in the bank. Scott’s group has already said it will accept a bid for the company of 14.7p per share, or £18m. It is believed that one PPL shareholder has made a tentative approach to German pharmaceutical giant Bayer about a possible bid. The Edinburgh company is working with Bayer on its flagship emphysema treatment, alpha-1 antitrypsin, which is not expected to reach the market until 2007. However City sources yesterday downplayed the likelihood of Bayer being interested in making a takeover approach. One analyst, who declined to be named, said: "Why would they want to take on all the risk?" Geoff Cook, PPL’s chief executive, hopes to raise vital funds by off-loading the company’s US-based xenotransplantation business and by making proteins for other companies. Earlier this year the US division created five ‘knock-outR |
Posted at 13/12/2002 11:19 by responsible lad Hi Hugepants,I have a stockwatch list which is called Hugepants and moiniters all the shares you are into. I started doing this when I reminded myself of how well you did on Protogana and the remarkable performance of Goal in one week, and I have noticed some of your other shares have made 20-100% gains to. Another plan of mine is to jump into the next Paul Scott Action group company straight away. If I kept doing that this year I would of been a wealthy man by now. Investors have to relize that just because they won the last ones a lot quicker, some will take more time. There is no such thing as a sure thing in the short term. Kind Regards Stephen |
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