Cytomyx Share Discussion Threads

[ant15] 27/4/2006 07:47

Im not so certain Price is showing a premarket click up we might need to watch this space.

[beaker139] 27/4/2006 01:00

Me thinks the same

[suncanaria] 26/4/2006 13:08

Something brewing?

[charmer1_23] 14/3/2006 08:06

Disposal of Cytomyx Limited

RNS Number:7465Z
Cytomyx Holdings PLC
14 March 2006


For immediate release 14 March 2006





CYTOMYX HOLDINGS PLC
("Cytomyx" or "the Company")


Disposal of Cytomyx Limited to Serologicals UK for $7 million
Notice of Extraordinary General Meeting

Cytomyx Holdings plc (AIM: CYX.L) today announces the conditional sale of its
subsidiary Cytomyx Limited to Serologicals UK Holding Company Limited
("Serologicals") for $7 million (approximately #4 million) in cash ("the
Disposal"). The proceeds will be reserved for the repayment of outstanding loans
to the Company and used for working capital. Following the Disposal, the Company
will be focussed on the provision to the pharmaceutical industry of high quality
human tissue samples through Cytomyx LLC, its biorepository business based in
Massachusetts in the US. The corporate headquarters of the Company will remain
in the UK, which will also be the focus of the European sales of our
biorepository business.



Highlights



* The Company will sell the entire issued ordinary share capital of
Cytomyx Limited to Serologicals UK for an aggregate cash consideration of $7
million (approximately #4 million), subject to certain adjustments. The
consideration of $7 million is payable in full on completion, of which
approximately $6.2 million (approximately #3.54 million) will be in respect of
the repayment of inter-company debts owed by Cytomyx Limited to the Company and
its other subsidiaries.



* The consideration is subject to an upwards or downwards adjustment on
a pound-for-pound basis to the extent that the working capital of Cytomyx
Limited as at the date of completion is greater or lesser than #21,000. An
adjustment of less than #25,000 upwards or downwards is to be ignored.



* In its unaudited financial statements for the year ended 30 September
2005, Cytomyx Limited reported an operating loss of #867,000 on turnover of
#963,000. As at 30 September 2005, it had net liabilities of #2.79 million.



* With the aim of optimising shareholder value, the Board has been
considering a full range of strategic options for the Company including the sale
of either part or all of the business of Cytomyx Limited. Following a thorough
search for a suitable buyer, for either part or all of the business, the sale of
Cytomyx Limited to Serologicals UK is, in the opinion of the Board, in the best
interests of the Company and its Shareholders as a whole.



* The Company has two loan facilities with Laurus Master Fund Limited ("
Laurus") which, by completion, are expected to total approximately $5.2 million.
The directors expect to use part of the Disposal proceeds to partly pay down the
facility which is based on the level of receivables in order to remain within
the limits of this facility. The directors will then pay an amount equal to the
balance of the principal amount of both Loans to a blocked account as security
for amounts outstanding to Laurus in respect of the Loans. The balance of the
Disposal proceeds, totalling approximately $1.8 million (approximately #1
million), will be used as working capital for the group.



* Following the Disposal, the remaining operating business of the
Company will be Cytomyx LLC, which is based in Lexington, MA., USA. Cytomyx LLC
maintains a large and diverse human tissue biorepository, which contains more
than 140,000 samples, all with extensive associated clinical data. Samples are
bar-coded for tracking purposes and are annotated with associated clinical data
in an on-line database. This collection has been created through supply
agreements with an extensive network of donor sites in the USA.



* Cytomyx LLC is currently working with many of the world's leading
pharmaceutical and biotechnology companies, providing them with samples that
assist them in developing new drugs based upon a clearer understanding of
patients' individual biochemistry. New drugs such as Herceptin, a new treatment
for breast cancer, and Gleevec for the treatment of Chronic Myeloid Leukaemia,
have already demonstrated the value of this approach. We believe that the
prospects for the business to expand in this emerging area are substantial.



* The completion of the Disposal is conditional on the transaction being
approved by the shareholders of the Company. Accordingly a circular has today
been posted to shareholders convening an Extraordinary General Meeting of the
Company, to be held at 11.00 a.m. on 31 March 2006 at 6/7 Technopark, Newmarket
Road, Cambridge, CB5 8PB at which an ordinary resolution seeking shareholder
approval will be considered.

* The Directors of the Company, who hold in aggregate 1,395,000 Ordinary
Shares, representing approximately 2.25% of the issued share capital of the
Company, have undertaken to vote in favour of the ordinary resolution. In
addition the Company has obtained irrevocable undertakings to vote in favour of
the ordinary resolution from Shareholders holding in aggregate 23,677,370
Ordinary Shares, representing approximately 38.3% of the issued share capital of
the Company.



Mike Kerins, Chief Executive of Cytomyx, commented: "Following a strategic
review by the Board, we believe that the disposal of Cytomyx Ltd is in the best
interests of shareholders. The disposal will strengthen the Company's balance
sheet and allow us to focus on our US biorepository business, which is already
working with many of the world's leading pharmaceutical companies and which has
significant potential for growth."





For further information, please contact:


Cytomyx Holdings plc [phone]
Mike Kerins, Chief Executive

Corporate Synergy plc [phone]
William Vandyk

Buchanan Communications [phone]
Mark Court/Mary-Jane Johnson








This information is provided by RNS
The company news service from the London Stock Exchange
END

DISIIFFDVAISLIR

[johnjackson5225] 01/3/2006 16:40

You surely have to be joking???!!!

20p for these?


JJ

[vanhalen] 01/3/2006 13:40

sarbannesoxley - 4 Aug'05 - 09:14 - 2 of 62


Chart-wise it looks like you're going to get a sharp return to the 16/18p range, probably today. I'd then see this going to 20p within a week.

[rbonnier] 01/3/2006 11:30

Dont think you can compare what the situation was back in August to the situation and share price today otherwise we would all be millionaires and these boards would be empty!
I think Langbar International is a very good example of this?

Numpties?......Na....you pays your money and takes your chance some you win others you lose.

[wiganer] 01/3/2006 11:25

"GayBriefs - 4 Aug'05 - 13:54 - 28 of 60


some right numpties here selling for 11.5p!

snap23 - 4 Aug'05 - 13:58 - 29 of 60


Not me!!:0)"


numpties?

[johnjackson5225] 12/1/2006 12:17

Well, strictly they're worth tuppence-h'apenny! But I agree the end is nigh.

JJ

[joyridder] 22/12/2005 16:35

Expect this to tick up past 5p tomorrow!!

[sandbank] 22/12/2005 16:32

I think it's almost as cheap to buy the whole company as opposed to picking up a few shares in it.
Given the amount of debt - which no acquirer will want to take abroad - it looks as though there's going to be a car boot sale of bits and pieces from the company. Well - at least I can say I once made £1000 quid on an investment in this company - although it was a few years back now!

Sad to see the water closing over its head but I don't feel like diving in after it somehow - even at these prices.

[joyridder] 22/12/2005 15:54

I bought a few....for the record

[dreadeddalek] 22/12/2005 15:26

I think we will leave it its not a going concern over the next 12 months it loses over 3 million quid a year and has 100k in the bank.At that rate it will be bust by next month unless a white knight shows its hand.

[joyridder] 22/12/2005 15:22

any positive news and expectation will keep driving this up.....worth buying it has been dropping on no volume ....time to make up
take it or leave it.

[english bigblls] 22/12/2005 15:14

Don't worry, I will NOT be considering a purchase!

[dreadeddalek] 22/12/2005 15:13

There you go its at the top of the report.Probably best having a look at the bottom of the report aswell before considering a purchase!!!
No bidder = Going Bust imho.


The first twelve months of the financial period ending 31 March 2006 have seen
considerable commercial activity and restructuring. The Board has been
considering a number of strategic options with the aim of optimising shareholder
value and at the time of these results we can report that interest has been
expressed by a number of third parties in acquiring either part or all of the
Group.

[english bigblls] 22/12/2005 15:08

Where does it say that?

[dreadeddalek] 22/12/2005 15:05

Errrrr Parties interested in making a bid!

[english bigblls] 22/12/2005 15:03

Distinct lack of any forward looking statements in these results - nothing to hope for here?. Or am I missing something?

[joyridder] 13/12/2005 22:24

High time this share springs back to life....

[phacops] 06/12/2005 23:51

Thanks RB but I hate to be right with doomed stocks. I prefer finding ones that could prosper due to good management such as Protherics. If the CEO of Cytomyx went on Dragon's Den he would be laughed out of the studio. I think that cyx will take receivership and certain directors will then take anything left private for a pittance. btw the Langbar debacle will and should make anyone leave AIM stocks such as Cytomyx well alone for a punt these days. The demise of Langbar made a splash but no-one will even hear the plip as Cytomyx gently drowns like a puppy in a grubby sack in the canal.

[johnjackson5225] 06/12/2005 15:29

Hmmmm.

So they sold the division accounting fo rover 60% of their revenues...for beans (£150k net) back to a director.

Another director resigns - trading insolvent?

The figures look like they have net liabilities.

No new customers and no FDA approval for a process that big Pharma has in spades.

The remaining divisions lack critical mass of any sort and can't cut overhead easily 'cos they're spread over 2 continents.

No thanks - this one's broken.

I imagine they'll be trying to sell the other 2 bits individually and will take what they can get for them.

In fact the recent tumble probably means a deal on one fell through or came in waaaay under what they wanted...but they don't have choices.

I agree that the action will be done by the new year. Glad I never bought and won't be buying now.

JJ