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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Fastnet Equity | FAST | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 2.975 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.975 |
| Top Posts |
|---|
Posted at 31/3/2016 09:45 by bigwavedave advfn won't allow me to post the link (to pro active investors) so I will copy it here.Fastnet Equity PLC unveils transformational drugs deal 07:11 31 Mar 2016 Amryt Pharmaceuticals will join the London market in a deal that values it at £29.6mln. A share placing, meanwhile, will bring in £10mln to be used to develop the company’s lead treatment for a rare skin disorder. A drug company with big aspirations and, importantly, a product already out on the market, looks set to make its AIM debut by reversing into listed investment firm Fastnet Equity PLC (LON:FAST). Amryt Pharmaceuticals will join the London market in a deal that values it at £29.6mln. A share placing, meanwhile, will bring in £10mln that will be used to develop the company’s lead treatment for a rare skin disorder. In a complicated series of transactions Amryt, as well as listing, is acquiring two firms with drugs and drug candidates that will form the bedrock of this speciality pharma business. Chaired by Harry Stratford, founder of FTSE 100 giant Shire Plc (LON:SHP), who set also set up ProStrakan, Amryt has the management expertise and boardroom experience of a much larger company. The team will be led by Joseph Wiley, who has more than 20 years’ experience in healthcare investment, while Michele Bellandi, who helped run Shire’s European arm, will be chief commercial officer. Former top-rated City healthcare analyst, James Culverwell, and Ray Stafford, previously the marketing chief of Forest Labs, are among the non-executive directors. Amryt is aiming to carve a niche in the area of orphan drugs that tackle-hard-to-treat illnesses with globally small patient groups, but significant revenue-generating potential. Orphan designation often means the product can be fast-tracked to market – usually at a fraction of the cost of developing medication destined for the mass market. And as they are niche areas where there are no current treatments, firms are often allowed to charge more for a breakthrough new product. The market gloablly is estimated to be worth US$176bn with around 19% of all prescriptions for these rare ailments. As mentioned earlier, the reverse into Fastnet will coincide with Amryt’s acquisition of two fledgling drug developers – SomPharmaceuticals and Birken. The latter, a German firm, has a product that is already approved in Europe called Episalvan, which is currently used to accelerate the healing of partial thickness wounds in adults. Clinical trials indicate it has the potential to help patients with orphan condition epidermolysis bullosa (EB). This is a rare and distressing genetic disorder affecting young children which makes the skin very fragile. Episalvan has been awarded orphan drug designation (ODD) in the US and EU for EB and the market for this indication alone is estimated to be US$1.5bn. The cash raised from the share placing will fund a phase III clinical trial in EB sufferers. SomPharmaceuticals, meanwhile, brings with it far earlier stage orphan candidates for acromegaly - a disorder that leads to the production of too much growth hormone - and Cushing’s disease, a pituitary gland problem. CEO-elect Wiley said: “Today’s announcement is an important step towards realising the company’s vision of building a speciality pharmaceutical company focused on best in class treatments for orphan diseases. “We are focused on building a portfolio of differentiated medicines, in therapeutic areas where there is large unmet medical need and which offer significant commercial potential.” |
Posted at 03/3/2016 17:17 by papillon Fast and Faster - (FAST)21/12/2015 (119264) Fast and Faster - (FAST) 21/12/2015 (119264) Amazing to see a few grouchy bulletin board punters moaning about the detail at Fastnet Equity (FAST). The boys in Dublin tried to build a big winner in the oil and gas game, enjoyed a great run for a while, but ultimately failed. All praise now to Cathal Friel, the investment banker chairman, for saving the shell and trying to make it a winner second time around. >>>>> " Amazing to see a few grouchy bulletin board punters moaning" I think Michael Walters was writing about you back then JacksonPollack! |
Posted at 23/2/2016 21:10 by badday Sea7,I wasn't implying that FAST would be buying these types of companies. I was highlighting the similarities there would be with new FAST ( assuming deal concludes ) and scioderm. And look at the price Scioderm was sold for at a very early stage. FAST, Harry Stratford, would not be looking to sell so early either. Build value, and then sale ( same concept FAST had with the oil assets, and Harry Stratford achieved with Prostraken) |
Posted at 21/2/2016 21:42 by papillon EPIC code: FASTFastnet reverse takeover could be imminent By Gary Newman | Sunday 21 February 2016 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. Fastnet Equity (FAST) has been attracting plenty of attention this weekend after rumours that a takeover deal is very close to being completed. The AIM listed company was formerly an oil and gas explorer with assets in the Celtic Sea and Morocco, but last year it took the decision to abandon this sector and relinquish its licences, in light of the low oil prices and expectations for that to continue for some time, plus the limited success of other explorers operating in the same area as Fastnet’s licences. The directors decided on a complete change of direction for the business and it is now looking for an acquisition in the biopharma sector. Now if the rumours are correct it looks like a deal could be imminent, with Amryt Pharmaceuticals the expected target as it has already told potential investors that it is looking to float on AIM via a reverse takeover of an existing cash shell. This shouldn’t come as a huge surprise as Fastnet appointed Harry Stratford as a non-executive director back in December to help it explore opportunities in the healthcare sector. Few in the industry can claim to have been as successful as Stratford, as he has over 40 years experience and founded Shire PLC back in 1986 which is now listed on the FTSE100 with a market cap of over £22 billion. He is also involved with Amryt, as is Fastnet chairman Cathal Friel, who is on the board of Amryt, and Raglan Road Capital, which he is also connected to, are shareholders in the private company. The rumours seem to be that Amryt will raise £20 million through the deal, with that company only having been set up last August, seemingly specifically for this purpose – but it does have two directors running it who are very experienced in the life sciences area, Joe Wiley and Rory Nealon. If any sort of a deal goes ahead we won’t know all of the exact details until a prospectus is issued, but I would expect the outcome to be positive for Fastnet holders given that the company has been trading at around cash value for some time now. Shares in Fastnet are currently around 2.9p to buy, up a fair bit from the lows of around 2p that we saw when the change of direction for the company was first announced, but still only giving it a market cap of around £9.8 million at the moment. At the last set of interims up to the end of September the company had around $15.5 million in the bank, and given that it expects annual running costs to be as low as $600,000 following its switch to an investing company, that should still mean that it is currently trading at around cash in the bank. It is debt free and net assets also stood at around $15.5 million after the write off of its oil and gas assets – those were previously valued at around $36 million. Obviously if there is a reverse takeover then the newly formed company will still have to make progress and actually achieve something, otherwise it will just burn through cash, but given some of those involved I think there is a realistic chance of success and it isn’t just some pipe dream. Cathal Friel is also someone who has put in a fair amount of his own money, via Raglan Road Capital, and around the start of July last year he nearly doubled his stake in the company, buying nearly 21 million shares at 4p, to take his holding to circa 11.5%. I would still class this one as highly speculative as it is still very early days, but going forward it should have a decent amount of cash in the bank and a good team behind it, and it all comes down to the terms of any deal that gets done, either with Amryt of anyone else. - See more at: |
Posted at 21/2/2016 18:00 by papillon "FASTNET EQUITY, the one-time AIM-quoted Celtic Sea gas explorer, is poised to complete its transition to the life sciences sector with the takeover of a newly formed pharmaceutical business.Fastnet is planning to close a deal with Amryt Pharmaceuticals, a company headed by Joe Wiley and Rory Nealon, two experienced senior life science executives. Amryt aims to raise up to £20m (€25.8m) as part of the proposed transaction. Amryt has told potential investors it will float through the reverse takeover of an unnamed “AIM-listed cash shell”, believed to be Fastnet. Davy Stockbrokers has been hired to raise new funds for the company." The above is from today's Irish edition of the Sunday Times: JacksonBollacks was bleating about hearing this RTO news through a newspaper report in the Irish Independent rather than a FAST RNS, but the Sunday Times says the "AIM-listed cash shell" is UNNAMED, but "BELIEVED TO BE FASTNET". Which newspaper is correct? Has FASTNET been officially NAMED as the "AIM-LISTED CASH SHELL" as reported by the Irish Independent, OR, is the Sunday Times correct when it states that the "AIM-LISTED CASH SHELL" is UNNAMED, but "believed to be FASTNET"? |
Posted at 21/2/2016 14:23 by papillon "It would also be interesting to hear what might happen to the oil and gas data being held in a seperate account. Is this part of negotiations or a seperate entity.">>>>> Do wake up, JP!! The oil & gas interests are held in a TRUST completely separate from FAST (though FAST has loaned money to the TRUST) and ONLY the shareholders who held FAST shares on the 16/12/15 will have any interest in that TRUST. Read the relevant RNS!! So from the 16/12/15 FAST has NO O&G interests and the O&G interests held in a COMPLETELY SEPERATE TRUST FUND will have ABSOLUTELY NO part in the RTO negotiations!! FAST NOW HAVE NO O&G interests apart from the loan to the TRUST, which if the O&G data has no value will mean that the loan will never be re-paid to FAST. You really are as thick as 2 short planks, JacksonBollacks. PS. I'm hopeful that any suspension for the RTO will be closer to 3 months rather than, say, 6 months, but who can tell? |
Posted at 08/1/2016 22:57 by papillon Since the FAST share price dropped below the 200 day EMA back in the early summer of 2013 it's been downhill ever since for the FAST share price However now, for the first time in almost 3 years, the FAST share price is back above the 200 day EMA. Has the tide finally turned for the FAST sp? The recent news flow suggests yes!!free stock charts from uk.advfn.com A close above the August high of 2.93p on good volume would indicate that a double bottom chart pattern had formed and a POSSIBLE short term target of 4p beckons. Certainly the appointment of the big hitter, Harry Stratford, to the FAST BoD has caught the imagination of many investors. Many cash shells with a big hitter on the BoD have traded/do trade at a hefty premium to cash value as investors see big potential ahead. free stock charts from uk.advfn.com |
Posted at 07/12/2015 11:52 by papillon Buy Fastnet Equity at 2.25pBy HotStockRockets | Monday 7 December 2015 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. This is really the simplest share tip we will ever make. And it is something of a nil brainer. The trade is to buy shares in Fastnet Equity (FAST) at a 2.25p offer and at up to 2.5p with a target to sell at 3p. Fastnet used to be an oil company but a few monthjs ago it rightly decided that no-one was interested in oil stocks any more. We agree. No-one is going to be interested for a very good while. And so the company exited all its interests and said that it wished to change its focus. Net cash right now is c£10 million (just a little bit over). The annual cashburn as Fastnet looks for a RTO is sub £400,000 per annum. The market cap at a 2.3p offer is c£7.7 million. In other words this stock trades at a 24% discount to net cash. Of course the management could blow the lot of a daft acqusition. But we know and rate Cathal Friel and his team and think that unlikely. Indeed we reckon that a good deal in the life sciences sector - which is pretty much flavour of the month right now - is really very close. We reckon that news of that deal will spark a material re-rating. We back management. Even a re-rating to NAV would see you be able to bank a 20-30% gain in just a couple of months. And with that cash backing the downside looks to be very limited. The trade: buy Fastnet at 2.3p and at up to 2.5p with a view to sell at 3p+ by the early New Year. This material first appeared on Hot Stock Rockets - sorry its paying customers first. Hot Stock Rockets will be serving up its next red hot share tip shortly. To access the UK’s fastest growing share tipping website for less than £5 a month ( or for £5 for one month) click HERE - See more at: >>>>> Many thanks for posting that link, Tromso!. Now we know why the FAST share price rose recently. It was tipped to HSR subscribers. |
Posted at 27/11/2015 20:54 by eburne1960 Meanwhile, FAST tipped on Shareprophets this morning:Fastnet (FAST) has been a company that's had its ups and downs. When things within the oil & gas sector just started to look terribly bleak earlier in the year, the company announced it would look to divest its resource assets to retain cash and move in a completely different direction - cue the birth of Fastnet Equity. Having reviewed the company in its new guise the most obvious attraction is a non-resource exposure whilst venturing down the bio pharma line. In September this year the company announced that it had cash reserves (at the start August) of £10.5 million which in anyone's book is a strong balance sheet heading onto a new frontier. Cathal Friel, the main man, claimed that the board had access to international pipelines of deals which could lead to shareholder value creation Considering that it’s been a quiet couple of months and the share price has drifted further toward 2p (valuing the company at a little over £7 million) it would seem that the relationship between cash and market cap is well out of sync. The Bio pharma sector is no easier to operate in than any other however there is a great deal of success being born out of opportunism. I suggest that the acquisition of a new med tech / bio tech asset will be the making of this investment vehicle and whilst I accept that December is often riddled with a lacklustre performance you have just concede that the odds of sitting on the fence much longer are against you. Fastnet now has an annual cash burn of sub £400,000. So with the shares trading at a discount to cash the shares are cheap. I suggest the first green light would be a director appointment with a heavy weight pharma background. After that the rest will be history. Remember you have to be in it to win it - See more at: hxxp://www.shareprop |
Posted at 16/8/2015 14:51 by alphabravo321 From the Sunday Biz Post...Fastnet has already identified a number of healthcare companies as possible takeover targets if the company’s shareholders approve its plans to exit the oil and gas exploration industry.If the switch is voted through, Fastnet will look to become a similar vehicle to Malin, the biotech investment fund that joined the Irish stock exchange in March and is now worth more than €450 million. It is also considering proposals that would allow a potential target to do a reverse takeover into Fastnet if the deal was right. Fastnet has almost $16 million (€14.3 million) in cash to invest in potential deals and it is thought that several companies have already approached it. Fastnet, which has assets off the Irish coast and in Morocco, called time on its role in the energy industry last week, just over three years after launching on the stock exchange. “The board has decided it doesn’t see a future in what we are doing in the Celtic Sea. Rather than keep on that track we have been pretty proactive and given the shareholders the right to vote and say, look folks, we’d like to get out of the oil and gas industry and do we have your permission,” Fastnet chairman Cathal Friel said. The company began a review of its options last year as the prospect of capitalising on its exploration licences diminished. It will hand back its licences to authorities in Ireland and Morocco once the shareholder vote takes place. Apart from the cash pile Fastnet is sitting on, the company has dramatically scaled back its overheads to just $600,000 and that figure may fall even further. The company said it hit on the healthcare and biopharmaceutical sectors as areas that are fast growing and offer potentially large returns. If shareholders back the proposals at a special meeting at the end of August, the company will change its name to Fastnet Equity. If it fails to pull off the new strategy in the space of 18 months it will wind up the company and hand back any surplus cash to investors. As part of the change of strategy, Fastnet chief executive Carol Law, an American with extensive experience in the oil business, is stepping down but will work out a three month notice period. Exploration firms have fallen out of favour with investors this year as the price of oil continues to slump. It fell to a six-year low last week as analysts slashed their price forecasts for this year and next. Oil prices have been hit by a fall in demand in the US, which is increasingly relying on different forms of energy sources and a glut of supply coming from the Middle East. On top of that, investing in Ireland’s oil and gas exploration sector has always been a risky bet. The chances of striking a major find are very slim. The last major discovery, at Corrib, is still not delivering onshore gas, decades after it was discovered. There was a further blow to offshore drilling last week with Lansdowne Oil & Gas abandoning a gas field it has been testing since July. Meanwhile, Providence Resources, which says it has discovered vast quantities of gas near to Fastnet’s Irish licence area, is still attempting to finalise an agreement with a major energy company to develop the field. The Department of Communications, Energy & Natural Resources is currently offering a number of licences to drill for oil and gas off the Atlantic coast. The deadline to submit applications is mid September. Shares in Fastnet rose initially on foot of the announcement. The stock has traded consistently below its net asset value per share of 2.9 pence this year and the move was welcomed by the markets. “The announcement is a stark statement of the conditions currently facing the industry, particularly for those trying to monetise offshore frontier areas,” analysts at British brokerage Panmure said in a note to clients. |
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