Alltracel Pharmaceuticals Share Discussion Threads

[maxijas] 13/5/2008 09:17

Do we all receive a cheque around the 20th May at 14p per share.
Thanks everyone for all your excellent comments.

Devbod I couldn't agree more!

[james t kirk] 13/5/2008 09:02

Hi chaps, havent posted here much recently as i ended up with little shares, but lost a lot of money on Alltracel. Very bitter about the management and the way we've been let down, but enjoyed the contributions to this board.

[wes1] 13/5/2008 08:52

Well, I would just like to wish everyone better luck in the future. Pity it ended in this fashion. We had a few laughs along the way, I enjoyed reading the board and posting - I just hope it all ends in tears for the grubby little conmen associated with Alltracel (past and present).

[supernumerary] 12/5/2008 21:20

DevBod - I've now been involved in 4 or 5 of these situations on AIM and I will no longer invest in any company in which I have less than 100% confidence in the board. End of story - the instant I have a doubt, I'm out. IMO AIM is a snakepit - the rules don't protect you, and they're so poorly enforced they mean little anyway.

You just have to be hyper-careful and spread your investments...

[devbod] 12/5/2008 20:23

I'm 100% genetically Irish but I'm rapidly reaching the point where I will not buy Irish shares. I used to have shares in Agcert which clearly (and by its own admission) lied to its shareholders about contracts while insiders sold yet no action was taken against it or its directors. Now we have Alltracel which has sold itself via a dubious legal device. It did so while hiding its latest accounts from its own shareholders.

One of my major factors influencing share purchases is now a check on historical director guidence/statements to check their accuracy. It seems the usual expectation that regulations might discourage dishonesty are worthless with the ineffectiveness of the current regulatory bodies. Its not only disappointing, I believe London runs the risk of losing its place at the forefront of international financial trading if the current trend continues.

[supernumerary] 12/5/2008 17:57

Sad it ended this way. It's been a good board - better luck everyone with your other investments...

[alimo] 12/5/2008 10:33

All of us with shares held in nominee accounts through stockbrokers have learned the hard way that there are great disadvantages to being nominee shareholders, and also being discretionary clients of stockbrokers for that matter. Internet trading saves in costs, but we are reminded of the inflexible, and very likely undemocratic, way that we can be manipulated by the plc system. It was all a done deal before we were able to do anything about it, and the stockbrokers (I think) failed in their responsibilities, to EFFECTIVELY notify their clients of all their options under the proxy system of this Scheme.

Without an appeal, which usually has to advance new evidence, I believe that over 50% of the shares were not represented in that High Court decision, for want of a poorly drafted Scheme that was drawn up and executed by Alltracel and it's advisers! We weren't even consulted in the drawing up of the Scheme!

Perhaps the Irish Takeover Panel will make sure that this kind of Scheme will have a future clause to the effect that if less than 50% of all the shares are represented by the proxy method, then the High Court will not recognise the Scheme, and force the company to seek proxies from 75% of all their shareholders and 90% of all the shares.

Thanks 06 for all your endeavors on behalf of every shareholder in Ireland (this goes beyond Alltracel and serves as an example to every shareholder that has accepted terms and conditions that allow others to make decisions over their investments). Perhaps the LSE(AIM) and the ISE are quite happy to allow companies to use the "law" to decide when to ask the public for money, and when to deprive them of that money. I hope they are not happy with what they have witnessed here, and tighten things up for the future.

Why should anyone trust our money to any company if the rules are all stacked in their favour? Speak to your MP's, and explain how Ireland has "lost" what, with patience, would have been a great company.

We will all have to give an explanation for our actions one Day, and we will all know then, without question, what is right and what is wrong. Until then, let's remember, He sees everything, and is Sovereign, and loves you!

[4web] 11/5/2008 21:29

So this was it?

[alimo] 11/5/2008 00:27

I'm looking forward to hearing what happened on Friday afternoon in the High Court of Ireland.

Maybe postponed again.

"The Directors of Alltracel accept responsibility" - disclosure - to the best of their knowledge and belief.

Does this mean that they are PERSONALLY responsible for all the additional costs, if it turns out that they now have to disclose all the facts that should have been disclosed? Or do Alltracel - that still means us; the huge number of shareholders, who, for nominee restrictive issues didn't get to vote - pick up the bill?

Even the American's reporting the Hemcon/Alltracel news announcement were surprised by the lack of financial information disclosed.

If the Director's get their way, we might never get to hear how good all the Intellectual Property - the cost of which was born by us - turns out to be.

[danwaits] 10/5/2008 17:19

Anyone have any news on how things went in the Dublin High Court on friday?

[jellyman2] 09/5/2008 13:56

the long lingering death last an extra day....
well all i can say is, its been nice chating on here shame about the stab in the back ending, good luck to all in other investments.

[06015197] 08/5/2008 11:58

Al,

Yes thanks. Had already moved on the matters raised. Keep a weather eye on postings.

[alimo] 08/5/2008 02:01

06 - Did you get my email of 1st May, and was it any use? I'm away from home again so don't think I can send emails on my son-in-law's wi-fi.

[06015197] 07/5/2008 17:41

I understand matters are progressing in accord with Court imposed schedules and timetables. The ball is now back in Alltracel's court and we await to see how they want to play it.

[targatarga] 07/5/2008 14:19

maxijas - probably best to wait for courtcase outcome... regards

[maxijas] 07/5/2008 14:17

Will our cheques be in the post around the 20th?
Will the price be at 14p?
Off AIM on 12th?
Regards

[06015197] 03/5/2008 20:02

Super,
Be my guest.

[supernumerary] 03/5/2008 10:40

06 - I hope you don't mind, I reposted a couple of your posts on the iii board, where they don't seem to have a clue what's going on with the delay.

[buywell2] 02/5/2008 12:16

I rate the chances of AP. management failing at around 5%

If however they should fail....and that is a big IF ,( after speaking at length with the Irish takeover panel I held little hope they would act) then presumably they would all leave .... if not out of their own choice then by a shareholders led call for their heads.

However alternative management needs to be installed so the company does not suffer...perhaps Synpart or Westone... this needs to be thought out so as to be included in the call for their resignations.

In the meantime the results should be published ASAP

[4web] 02/5/2008 06:54

JC, thanks! I haven't heard anything from Tony Richardson ever since the takeover was announced. Don't think I will anymore.

Super thanks for the translation. Looked it up after I asked JC.

[coincall] 02/5/2008 01:53

06015197,

Thank you.

[supernumerary] 01/5/2008 23:57

Well done 06 - hope it goes well. If the affidavit (4web - it just means a sworn statement) is public, I would also be interested to read it.

[06015197] 01/5/2008 22:23

The RNS announcement is, as usual, with AP pronouncements a little bit economical with the actualite. The AP legal team sought the adjournment, it was not imposed by the court or sought by the objectors, who were more than willing for the case to be heard on Friday 2nd..
AP could have allowed the case to be heard as scheduled for Friday 2nd; they are running scared and their legal advice must have been "chaps you have screwed up and have been caught doing it, you will lose tomorrow, better to seek an adjournment and start saying your prayers".

4WEB, Essentially, there is an objection to the proposed takeover going ahead and the Irish High Court must now decide if they will grant approval. Without Court sanction, the proposed takeover fails and HemCon will have to start the process afresh. But this time they will have to come in with a realistic offer.

Ask Gerry Brandon what he thinks about developments, he doesn't have many shares anymore, but I'm sure he will have an opinion. Although, I don't suppose you pay much attention to what he or Richardson has to say anymore.

[4web] 01/5/2008 19:23

JC, Could you tell me what an affidavit is? What does this mean? Thanks!

[coincall] 01/5/2008 14:36

06015197,

Can you give the link to that statement?