Corin Share Discussion Threads

[cockneytrader] 28/12/2012 16:16

i recieved my cash today and have invested it wisely.

[rs2ooo] 26/12/2012 14:39

Didn't post on this thread as I had nothing to say since it's inception. My original entry is detailed in this post from the old thread:

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RS2OOO - 25 Mar 2011 - 20:27:23 - 264 of 270
I'm a chartist so to speak.

Had a buy signal on this in November 2010 based on my own system rules. I then purchased at 49.25p. This was a risky purchase as a wide stop was required (34p).

Difficult to confidently define S/R on the daily chart. However, a weekly close above 58.8p would give me confidence in continuation of the "breakout". I don't define the current price action as a technical breakout as such, but from a volume perspective it can be classified as such.

Ideal price targets range from 84p - 114p.

A weekly close below 58p next week would have me slightly concerned that we wont see follow through in the short term.

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Price never achieved my target and did go lower than levels I felt comfortable with, but nonetheless the final outcome is satisfactory for me.

Thank you Wan for the thread, I enjoyed reading it and wish you the best with you're next investment.

[investoree] 24/12/2012 08:33

Wan I wish you and all those who read and have contributed to your extremely well researched CRG thread a very happy Christmas and a healthy and prosperous New Year. I look forward to your thoughts on a suitable replacement for these funds when they are eventually released in presumably about a fortnights time? I started trying to follow up on the patent link you provided but then decided it would probably only upset me as I no longer have any interest in CRG.

[wan] 24/12/2012 07:37

It's a done deal!

It leaves me with a lot of considering/researching to do in order to replace the investment.

I wish all readers a happy Christmas and a happy and healthy New Year.

Regards

Wan

[wan] 20/12/2012 07:38

Corin have had another patent published -

Publication date 2012-12-06
Hip prosthesis system

[cockneytrader] 12/12/2012 12:41

wan, take a close look at btg ;-)

[wan] 12/12/2012 07:34

I was hoping for a late bidder/increased offer too. The long term investment case was a good one and I believe it was worth more than the 2iL offer, but it's done now. I can't complain too much I suppose as I was holding virtually 1% of Corin's shares, which were bought at much lower levels.

I now have the task of finding another compelling investment.......that is ISA qualifying!

[cockneytrader] 11/12/2012 22:32

70 pence a share it is :-(

[cockneytrader] 28/11/2012 22:15

I see S&N busy with other M&A.

[cockneytrader] 28/11/2012 17:10

Investoree .. may I suggest you cast your eye over BTG plc. As far as I'm concerned this share has plenty of potential over the longer term - it is perhaps the next Shire.

[investoree] 28/11/2012 16:37

Thanks Wan I am with TD Direct (TD Waterhouse) and will accept the offer tomorrow which is within their deadline unless any last minute bid appears and then ponder on a new home for the funds when they are released. I think we are probably in for a few difficult months even allowing for a possible 'Santa Rally' so there probably isn't any great rush to commit on a whim. Your research and reasoning has been greatly appreciated on the CRG thread and it will be with great sadness that my CRG shareholding will probably be relinquished very shortly. Kind regards IE.

[wan] 28/11/2012 10:49

Investoree...Don't forget to tell your broker that you accept the offer by the 29th of this month though (leaving enough time for them to inform Corin by the deadline). That way you will get the 70p, but still benefit if there is a last minute bid. Given the relatively small overall amount it would take (£33m plus, an extra 7p to you and I), a last minute bid might be a strategy employed, especially if 70p is seen as enough to secure the required acceptances.

Regarding another investment suggestion. I have not put much effort into finding an 'ISA qualifying' replacement yet. I will consider it more, when and if the bid is accepted proper (70% of shareholders need to accept).

[investoree] 28/11/2012 08:54

Wan I think you are right it would probably be wise to hang on until the last minute and then accept their offer if no competing bid appears. Out of interest have you any other investment suggestions in the health/ageing population sector you consider potentially worthy of investment consideration. I lost circa 20K with Southern Cross when they collapsed having been asset stripped prior to being re-floated and the final nail in the coffin appeared when they were stuffed by Local Authorities reducing the fees they were prepared to pay (having closed most of their own homes) and there weren't enough private residents to subsidise them.

[wan] 28/11/2012 08:08

Another 510k approval -

Decision Date 11/21/2012

510(K) Number K122305

Device Name CORIN TRINITY-I ACETABULAR SHELL

Applicant CORIN USA

[flyfisher] 26/11/2012 12:12

Wan , analyst comment from the time of the bid approach.

We highlighted in our note of 26th September why it was time to take a closer look at Corin,with the company coming to the end of a lengthy period of restructuring and the new Hips and Knees range poised to deliver sustained top line growth and margin expansion from the current depressed levels. In our view, Corin is poised to deliver a re-rating over the next 2-3 years. For example, if the shares were to trade at 7.5x EV/EBITDA on our FY14 estimates, the implied share price would be 140p. As such, we view the mooted 70p offer (which we take as our new Target Price) as opportunistic. The announcement may flush out any competing interest and we believe shareholders should sit tight and await developments.

An offer at 70p would value the equity of Corin at £30m and an EV of £35m. On our forecasts, this would imply Dec-13 multiples of 15.4x P/E and 10.0x EV/EBITA but only 4.8x EV/EBITDA, 0.7x EV/Sales and a Price to Book ratio of just 1.0x. We note other transactions in the Orthopaedics space are frequently done at 2.5x EV/Sales and often considerably more.

[cockneytrader] 26/11/2012 11:35

i wish you right. however that ims does not encourage bidders, especially from outside of the industry.

[wan] 26/11/2012 07:52

Let's hope for a late newcomer and an increased offer that's only got to be raised by £3m (10%) to persuade large holders (that have thus far agreed to the offer) to jump ship!

We are about to see probably the most trusted orthopaedics manufacture disappear off the investor radar. An increased offer over £30m, is pocket change for the larger players and although getting more remote, a late bidding war cannot be ruled out yet.

[cockneytrader] 25/11/2012 21:45

let's just hope the deal goes through otherwise these are toast.

no one liked the sound of the mom litigation mentioned in the ims.

[wan] 15/11/2012 08:55

FOR IMMEDIATE RELEASE
15 November 2012
2IL ORTHOPAEDICS LIMITED
POSTING OF OFFER DOCUMENT

[wan] 14/11/2012 11:00

Invetoree...Whilst I understand your frustration, your proposal is a very high risk strategy. If 2IL effectively control the company, your minority share holding could be worth very little i.e. there will be no ready market/buyer for them, except for 2IL and they might not even be interested!

[investoree] 14/11/2012 10:28

Wan myself and other long suffering long term private investors in CRG have clearly been stitched up like kippers by the management and institutions alike in another cosy back room deal. Unless there is some sort of counter offer the best I can do is cause 2IL some minor inconvenience by not selling my shares to them in order to force them to make an application to the High Court when they have received acceptances in excess of 90% of the issued share capital - unless anyone else can suggest another alternative course of action?

[wan] 12/11/2012 10:19

But I note from the latest RNS, that the door is open to a higher bid.

[wan] 12/11/2012 08:48

It would appear that it's a done deal!!