Alltracel Pharmaceuticals Share Discussion Threads

[james t kirk] 05/4/2008 07:43

Looks like 68 small shareholders turned up to vite against, but GB must have voted for teh scheme, which is a shame. Not sure who the 200+ were who turned up to vote for the scheme but I'd suggest every employee of Alltracels who owned shares was probably given a 3 line whip.

Very sad end to all this and well done for putting up a fight.

[supernumerary] 04/4/2008 21:55

Wes - I've reposted it on iii.

It sounds as though the real battle is likely to take place in front of the courts.

[coincall] 04/4/2008 21:43

The numbers for people attending the court meetings looks mighty strange, were they not allowed to attend both meetings?
from the RNS...

First Court Meeting


Shares Shareholders (either in person
or by proxy)
Number % Number %
For 65,604,327 94.60 228 77.03
Against 3,746,011 5.40 68 22.97





Second Court Meeting


Shares Shareholders (either in person
or by proxy)
Number % Number %
For 1,999,807 100 5 100
Against Nil - Nil -

[wes1] 04/4/2008 21:19

Times journalist is interested in hearing from someone who went to the meeting.

send an email to me - edit - just put "alltracel" as subject and I will send back details including his direct phone number.

If anyone is registered on other boards perhaps you could tell them about this post.

[4web] 04/4/2008 19:07

must have been quite a show. How can these percentages be true.

Scre. Tony Richardson and the rest.

[lbo] 04/4/2008 16:43

So its a done deal!

[2kennyg] 04/4/2008 16:31

EGM 96% for 4ish % against...

[4web] 04/4/2008 13:27

not anyone back yet?

[4web] 04/4/2008 06:54

Good luck today for the ones going! Please let us know how it went!

[lbo] 03/4/2008 12:30

Why don't you just buy more shares in the market?

If the bid fails then you should be happy as you think the price is cheap and if the bid goes ahead you make 4% in a few weeks!

That would be the way to proceed IMHO

[buywell2] 03/4/2008 10:49

I think you will see Brandon and Richardson put their AP. monies gained from HemCon together to buy the Cosmaceutical business.

[supernumerary] 03/4/2008 10:20

Puffin - if he did that in writing it might be worth getting a copy to alimo for his court appearance. If widespread it would be a good reason for a postponement.

[puffin tickler] 03/4/2008 04:00

My broker informed me that this was not considered a corporate action so no documents were sent out to nominee holdings

Ha ha!

[alimo] 02/4/2008 22:02

It appears that Nat West Bank have misinformed their clients. I wonder how many clients are affected? It's bad enough having to have to fight this Scheme but it seems we have to fight with with one arm tied up our back. If you can't attend on Friday and haven't received your Scheme Document and Proxy (Pink for the 10.15am Court Meeting, BLUE for the 10.45am EGM) then you need to investigate who advised Nat West, just to check the advice wasn't a deliberate attempt to ensure your Proxy Forms don't get there in time.
I suppose if ballots can be rigged in Zimbabwi, why not here? If you do find your Proxy Forms then as I said, come to the Fitzpatrick Castle Hotel, Killiney, CO. Dublin before the first Court Meeting gets started at 10.15am. See you there. I wonder if there are any other boards I can post this to.

The document is so full of legal jargon, I only found out about the Proxy count from the Irish Takeover Panel yesterday.

[alimo] 02/4/2008 17:45

Any AP. shareholder who wants to have this Scheme thrown out or at least postponed until a higher offer is forthcoming should come to the Fitzpatrick Castle Hotel, Killiney, Co.Dublin with his/her proxy signed to say no to the offer. It doesn't matter how few shares you own, it's your Proxy head count that is the real issue in the first place. If the Scheme doesn't get 51% of the Proxies then they lose. It's as simple as that, says Michael Ryan of the Irish Takeover Panel. The Against vote may only have 10% of the shares, but that doesn't matter; what matters is that we get 51% of the proxies.

It's a bit different for those voting for the Scheme. They need to get 51% of the proxies AND their shares within the proxies have to exceed 75% of the valid proxy shares.

So it's too late to send the proxy to Computershare Investor Services; it now needs you to attend on Friday WITH YOUR PROXY saying 'NO'.

[4web] 02/4/2008 13:19

I wouldn't be surprised to see Tony Richardson and friends buy back:

Cholestarol
Cosmetics
and all non-woundcare related parts.

After that they are no longer a listed company, but a private company.... we won't know what happens anyhow since Hemcon is not a listed company.

[supernumerary] 02/4/2008 12:16

$300,000 doesn't sound like much on a loan of $50M - they must be planning to sell that stake pretty quickly. Unless they've already got a buyer lined up for the bits of AP that don't fit their business model?

[puffin tickler] 02/4/2008 07:06

If credit is so expensive why do they want to buy Altracell?

It can only be because they are getting it on the cheap.

Why is Altracell being sold on the cheap?

[lbo] 02/4/2008 03:58

Small Businesses Squeezed by Credit Crunch



Smaller Margin for Error

Mike Williams is vice president for finance at HemCon Medical Technologies in Portland, Ore. HemCon makes bandages for severe battlefield wounds. It wants to buy an Irish medical company, but it needs about $50 million to do so. In December, a bank officer said Williams could have the money at about 5.5 percent interest - a good rate.

But when Williams returned just a few weeks later, the rate had jumped to nearly 8 percent. The banker who gave Williams the new terms "somewhat sheepishly handed me the term sheet, slipped it across the table," Williams says, adding, "I was absolutely amazed."

The bank officer said credit had tightened.

The new rate meant Hemcon would have to pay an additional $300,000 in interest over the term of the loan.

Hemcon is going ahead with the purchase anyway, but Williams said it now has a smaller margin for error.

"If there were to be a hiccup down the road and the credit situation hasn't improved by that time, it could be very difficult," he says.

Williams said in that case, HemCon would have to sell a stake in the company to keep it going.

[danwaits] 01/4/2008 22:37

Alimo, buying and selling shares in Ireland is a lot more difficult than the UK. The main brokers are Davys and Goodbodys who are affiliated to the Bank of Ireland Ltd. and Allied Irish Bank respectively. Up until recently both banks had brokers' desks in the main branches but Bank of Ireland have just withdrawn this facility. So, most active shareholders would have a nominee account with either of these two or one of the other brokers.
So whilst Davy's have over 15m shares, I would imagine a good few of these are held on behalf of private individuals.

As regards your query about the court process, I would get hold of the court clerk prior to the hearing who should be able to explain things to you. On the rare occasions when I've had court dealings, I've always found these people very helpful.