Celadon Pharmaceuticals Share Discussion Threads

[wywcu1] 01/9/2009 09:25

This will now come down to the "undecided" Institutions. They will be in a far better position to decide what is best versus the Guys on this B.B.
If they accept that will be it, if not, it is anyones guess as to where we will end up.

[verger] 01/9/2009 08:37

I think they need another million. Peel Hunt left another 'urgent' message on my phone on Friday, chasing my few (8000)shares. Draw your own conclusions.

[b1ggles] 01/9/2009 08:15

Friday's dealings brought them up to 24.0%. Are they going to fall short?

[verger] 01/9/2009 08:01

29 hours to go! Hold on everybody!

[boadicea] 29/8/2009 17:27

From the "Offer Update" of 10th Aug -
The first closing of the Offer is at 1.00 p.m. (London time) on 2
September 2009.

Full text at -

[verger] 29/8/2009 09:53

What time on Tuesday is there deadline?

[boadicea] 28/8/2009 21:35

Verger - I would have thought not because there is no listing there so I think they can only deal on market during London hours. I suppose this doesn't stop them doing off-market deals if they can find and contact holders direct - but might that leave them open to accusations of evading the rules?

[verger] 28/8/2009 16:57

Can NAV continue wheeling and dealing on the US market between now and Tuesday morning?

[wywcu1] 28/8/2009 11:49

Yet another call from Peel Hunt (this is my 2nd). He was a very nice young man and admitted that the response he was getting was "mixed". My guess is that on this BB we collectively own circa 500/1,000k shares so it will be the Institutions that will call the shots here. It would appear that a number of them are not terrible enamoured with the deal.
Let's see how it pans out.

[verger] 28/8/2009 09:12

So, they picked up 75,000 yesterday, and they need around 1,000,000 more by Tuesday to reach 50%. Am I right in my calculations?

[wywcu1] 27/8/2009 14:20

I am not happy about KBC ringing around for the very simple reason is that we are probably paying £X per hour for their time. Exactly the same thing happened with TRT.

[ibrox] 27/8/2009 13:25

KBC tried ringing me directly last week as well. Very surprised I did not take the call and expected it to have been another cold calling boiler room style call.
Now I read on here that they have been ringing around shareholders trying to solicit support for the takeover it sounds desperate to me.

I have had a lot of shares that were taken over but never a telephone call.

What happens to the claim against the company if the offer is not successful?

[dpeach] 27/8/2009 08:43

cheers boad, looks like it might be tight come the 1st

[boadicea] 27/8/2009 00:09

Sorry to disappoint you, d-p, but the PLUS trades at 231.01p are clearly 'sells' given that the LSE bid is 231p.
PLUS usually shows a wide spread and the 229p shown there is quite unrealistic (otherwise the sell trades would all go through on LSE!)

[dpeach] 26/8/2009 18:49

buys outweighing sells today 37,000 to 8,000

[boadicea] 26/8/2009 16:37

dp -
The following was copied from the notice of meeting issued earlier this month by Shore Capital. (Their meeting is tomorrow.)
It would appear that it is a general requirement applicable to all LSE listings but I cannot positively confirm that there are no exceptions.

"In order to cancel the listing of the Ordinary Shares on the Official
List, a special resolution is required by the Listing Rules of the UK
Listing Authority to be approved by Shareholders. Accordingly, the
passing of the Resolution requires the approval of 75 per cent. of
votes cast by Shareholders voting at a general meeting of the Company
('General Meeting'), in person or by proxy, to be obtained."

[dpeach] 26/8/2009 16:14

has any one an idea of confirmed % required to delist as I have heard although says 75% it could be delisted on 50% plus 1 vote ?

[go with the flow] 26/8/2009 15:57

Verger
I would discourage any investment in this sector of the food industry due to fierce competition and the inevitable arguement as to what constitutes a Cornish pasty!

On a serious note, totally impressed with Peachy's research on the current position of holdings. I believe the decision of the CEL board was a serious mis-calculation and indeed unethical from a shareholder standpoint. I respect their industry capabilities but I hope that a just outcome will teach them a lesson from the investment viewpoint.

Flow

[verger] 26/8/2009 15:41

Which firm makes the pasties? We might need to re-invest!

[verger] 26/8/2009 09:04

Thanks dpeach.

[dpeach] 26/8/2009 09:00

just gone through current positions and percentages and from the news it appears current position is:

Nastor - 23.4%
Arnold Advisors - 2.17%
Director - 1%
Brewin Dolphin - 1.29%
Gartmore - 11.8%
Non Binding Letters - 6.1%

Total - 45.75 %

Lloyds is an interesting one paid 233p for 34800 shares on 14 August
they increased to 10.90% so will see which way they go?

[verger] 26/8/2009 08:40

Well, well, NAV did have a busy day, yesterday. Today, Bid & Offer closing in on the takeover offer. The next few days will see more activity...but hold on to your positions!

[verger] 25/8/2009 20:52

Ok, who sold 400,000 at 4.30 pm? Own up!