The Fulham Shore Share Discussion Threads

[edale] 26/7/2012 20:58

News item 16th Jul :-

Leading independent utilities company Fulcrum, the only connections business of its kind with nationwide coverage, is to showcase new services during its first-ever appearance at The Energy Event at the Birmingham NEC in September.

Fulcrum will be spotlighting its Multi-Utility connections service alongside new, free gas pipework Inspection and Maintenance "MOT" checks.

"Fulcrum has come a long way in the two years since it severed ties with National Grid," said Fulcrum Sales and Marketing Director Richard Atkinson.

"As the UK's definitive exhibition for energy professionals, we will be using The Energy Event as a reminder that we are no longer simply a gas connections company and now offer a wide and varied range of truly customer-focused energy solutions that meet the needs of today's market in a flexible and cost effective way."

Fulcrum's stand at the exhibition, which runs over September 11-12, will include videos of recent connections along with interactive information tablets and company service literature.

"The key thing for us is the chance to talk with, and listen to, both existing customers and new contacts," said Richard. "Our business development team will be on hand for all those who want to discover the benefits that choosing Fulcrum now offers."

Additional information:
•See Fulcrum on Stand F40 in the Hall 7-8 area of the NEC on September 11th and 12th
•Entry to The Energy Event 2012 is free for visitors who pre-register at www.theenergyevent.com prior to arrival. Normal entrance fee is £30.

[masrscb9] 25/6/2010 16:08

Finally arrived in nominee account today - now 5 days to clear...

[welsheagle] 24/6/2010 19:26

Cheque arrived Monday

[ansc] 24/6/2010 14:51

Yes, mine thankfully arrived with my broker - I'm in their a nominee account - yesterday (23rd). Now all I've got to do is get the money off of them!

My last post on this thread, therefore. It has been a weird but useful experience following FUL but a good lesson for me in (a) not to panic when unaccountable price drops occur (b) bide your time when wanting to buy because being patient and getting your timing right is essential in illiquid stocks like FUL.

[masrscb9] 24/6/2010 14:24

Nothing for me yet. Has anyone received their payout?

[ansc] 21/6/2010 11:12

Has any investor received their payout yet? With the bid going 'wholly unconditional' on 9th June, the last possible payday is therefore the 23rd so it looks as if Gold Medal are determined to hold onto their cash for as long as they possibly can. They weren't that slow in getting the takeover proposal documents out tho!

[ansc] 09/6/2010 16:41

At last!

"9 June 2010 - GOLD MEDAL ACQUISITIONS UK LIMITED

RECOMMENDED CASH OFFER FOR FULCRUM PHARMA PLC

OFFER DECLARED WHOLLY UNCONDITIONAL


On 28 April 2010, the boards of Gold Medal Acquisitions UK Limited ("Gold Medal
UK") and Fulcrum Pharma plc ("Fulcrum Pharma" or the "Company") announced the
terms of a recommended cash offer by Gold Medal UK for the entire issued and to
be issued share capital of Fulcrum Pharma (the "Offer").

Gold Medal UK announces that all of the conditions to its recommended Offer have now been satisfied or waived and, accordingly, the Offer is declared
unconditional in all respects.

As at 1.00 p.m. (London time) on 9 June 2010, being the extended closing date of the Offer, valid acceptances of the Offer had been received in respect of a
total of 163,370,158 Fulcrum Pharma Shares, representing approximately 91.81% of the existing issued share capital of Fulcrum Pharma.

The Offer will remain open for acceptance until further notice and at least 14
days' notice will be given if Gold Medal UK decides to close the Offer. Fulcrum Pharma Shareholders who have not yet accepted the Offer and who wish to do so should complete and return their forms of acceptance as soon as possible.

Settlement of the consideration to which any Fulcrum Pharma Shareholder is
entitled will be effected: (i) in the case of acceptances received (complete in
all respects) by 1.00 p.m. on 9 June 2010, within 14 days of this date; or (ii)
in the case of acceptances received (complete in all respects) after 1.00 pm on
9 June 2010 but while the Offer remains open for acceptance, within 14 days of
such receipt.

As a result of the Offer being declared unconditional in all respects,
application will be made to the London Stock Exchange for the cancellation of
the admission to trading of Fulcrum Pharma Shares on AIM. It is expected that
such cancellation will take effect from 12 July 2010. Fulcrum Pharma
Shareholders should note that the cancellation of the admission of trading of
Fulcrum Pharma Shares on AIM will significantly reduce the liquidity and
marketability of Fulcrum Pharma Shares and their value may be materially and
adversely affected as a consequence. It is also proposed that, after the
Fulcrum Pharma Shares are delisted, Fulcrum Pharma will be re-registered as a
private company.

Gold Medal UK intends to exercise its rights pursuant to the provisions of
sections 979 to 991 (inclusive) of the Companies Act 2006 to acquire
compulsorily any remaining Fulcrum Pharma Shares in respect of which the Offer
has not been accepted on the same terms as the Offer.

Prior to making the Offer, Gold Medal had received irrevocable undertakings to
accept the Offer from holders of 56,276,166 Fulcrum Pharma Shares in aggregate
(representing approximately 31.63% of the Company's issued ordinary share
capital): valid acceptances have been received in respect of 55,555,578 of such
shares and these acceptances have been included in the total level of
acceptances referred to above.

Save as set out herein, neither Gold Medal UK nor any person acting in concert
with Gold Medal UK held any Fulcrum Pharma Shares (or rights over Fulcrum Pharma Shares) prior to the announcement of the offer on 28 April 2010 and neither Gold Medal UK nor any person acting in concert with Gold Medal UK has acquired or agreed to acquire Fulcrum Pharma Shares since that date.

Other than as expressly set out in this announcement, capitalised terms used in
this announcement shall have the meanings given to them in the Offer Document
dated 28 April 2010."

[ansc] 03/6/2010 08:29

GOLD MEDAL ACQUISITIONS UK LIMITED - 2 June 2010

RECOMMENDED CASH OFFER FOR FULCRUM PHARMA PLC

OFFER EXTENDED

"On 28 April 2010, the boards of Gold Medal Acquisitions UK Limited ("Gold Medal
UK") and Fulcrum Pharma plc ("Fulcrum Pharma" or the "Company") announced the
terms of a recommended cash offer by Gold Medal UK for the entire issued and to
be issued share capital of Fulcrum Pharma (the "Offer"). On 20 May 2010, Gold
Medal UK announced that the closing date of the Offer was extended until 2 June
2010.

As at 1.00 p.m. (London time) on 2 June 2010, being the extended closing date of the Offer, valid acceptances of the Offer had been received in respect of a
total of 159,251,968 Fulcrum Pharma Shares, representing approximately 89.49 per cent. of the existing issued share capital of Fulcrum Pharma. Each of these acceptances may be counted by Gold Medal UK towards the satisfaction of the acceptance condition of the Offer.

The Offer, which remains subject to the terms and conditions set out in the
Offer Document, is being extended and will remain open for acceptance until the
next closing date which will be 1.00 p.m. (London time) on 9 June 2010.

Prior to making the Offer, Gold Medal had received irrevocable undertakings to
accept the Offer from holders of 56,276,166 Fulcrum Pharma Shares in aggregate
(representing approximately 31.63 per cent. of the Company's issued ordinary
share capital): valid acceptances have been received in respect of 55,555,578
such shares and these acceptances have been included in the total level of
acceptances referred to above.

Save as set out herein, neither Gold Medal UK nor any person acting in concert
with Gold Medal UK held any Fulcrum Pharma Shares (or rights over Fulcrum Pharma Shares) prior to the announcement of the offer on 28 April 2010 and neither Gold Medal UK nor any person acting in concert with Gold Medal UK has acquired or agreed to acquire Fulcrum Pharma Shares since that date.

Other than as expressly set out in this announcement, capitalised terms used in
this announcement shall have the meanings given to them in the Offer Document
dated 28 April 2010."

How convenient! 0.51% short of the Offer becoming 'unconditional' which, of course, allows Gold Medal to delay sending out settlement payments again. What's the betting that at the next closing date (9th), acceptances will total 89.99%!!

Scandalous!*?#!

[ansc] 02/6/2010 14:34

The second closing date has just passed - 1.00 pm this afternoon - so we should get a further announcement from Gold Medal tomorrow morning re acceptance levels and whether or not the Offer has become 'unconditional'.

Having been quick off the blocks to get the offer posted, now that they know the bid is virtually signed, sealed and delivered, they seem to be dragging their feet somewhat to get to the unconditional stage as that means they will only have a fortnight to get the money to FUL shareholders. The delay is costing me dear!

[ansc] 21/5/2010 12:28

I'm completely flummoxed by the disclosure today (Form 8.3) and haven't a clue what its supposed to indicate. Why would anyone wish to buy/sell 190k when the bid is on the verge of going unconditional? Strange.

[ansc] 20/5/2010 08:39

GOLD MEDAL ACQUISITIONS UK LIMITED

RECOMMENDED CASH OFFER FOR FULCRUM PHARMA PLC

OFFER EXTENDED

On 28 April 2010, the boards of Gold Medal Acquisitions UK Limited ("Gold Medal
UK") and Fulcrum Pharma plc ("Fulcrum Pharma" or the "Company") announced the
terms of a recommended cash offer by Gold Medal UK for the entire issued and to
be issued share capital of Fulcrum Pharma (the "Offer").

As at 1.00 p.m. (London time) on 19 May 2010, being the first closing date of
the Offer, valid acceptances of the Offer had been received in respect of a
total of 150,275,287 Fulcrum Pharma Shares, representing approximately 84.45 per
cent. of the existing issued share capital of Fulcrum Pharma. Each of these
acceptances may be counted by Gold Medal UK towards the satisfaction of the
acceptance condition of the Offer.

The Offer, which remains subject to the terms and conditions set out in the
Offer Document, is being extended and will remain open for acceptance until the
next closing date which will be 1.00 p.m. (London time) on 2 June 2010.

Prior to making the Offer, Gold Medal had received irrevocable undertakings to
accept the Offer from holders of 56,276,166 Fulcrum Pharma Shares in aggregate
(representing approximately 31.63 per cent. of the Company's issued ordinary
share capital): valid acceptances have been received in respect of 52,005,578of
such shares and these acceptances have been included in the total level of
acceptances referred to above.

Save as set out herein, neither Gold Medal UK nor any person acting in concert
with Gold Medal UK held any Fulcrum Pharma Shares (or rights over Fulcrum Pharma Shares) prior to the announcement of the offer on 28 April 2010 and neither Gold Medal UK nor any person acting in concert with Gold Medal UK has acquired or agreed to acquire Fulcrum Pharma Shares since that date.

Other than as expressly set out in this announcement, capitalised terms used in
this announcement shall have the meanings given to them in the Offer Document
dated 28 April 2010.

[bbd2] 19/5/2010 16:55

Take a peak at SYM ansc. Could be both a green and defensive play in these uncertain times.

[ansc] 19/5/2010 15:02

As I understand it, now that the first closing date has passed - 1.00 pm today - we should get an announcement before 8.00 am tomorrow as to the state of play re acceptances and on how long the offer period is going to remain open. I'm hoping that the 75% acceptance level has been reached at least as I'd like my money asap, plans afoot.

[yogro] 12/5/2010 01:17

shining examples to the free market Armstrong, Devlin, Knight, Cook or Bell.
the directors of this sad company should be sealed into the tin can they created

[bbd2] 11/5/2010 14:22

ansc, Many thanks

garth, yes it's a company with a lot of history and many promises/parts but I am not there for the legal software or electric bike side,etc of the business. I am there just for the solar potential. The recent placing was encouraging and the solar panels seem to offer an edge if they can capitalise on the opportunity. The shares are rock bottom and so not much downside but if they get it right I am hoping for a woosh. The next italian update will be where I make my next judgement.

[ansc] 11/5/2010 09:11

bbd2 - The first closing date of the offer is 1.00 pm on 19 May. Of course, Gold Medal can then decide to extend it until such time as the required number of acceptances have been received - 90% when the offer will become wholly unconditional or 75% when Gold Medal can apply for the cancellation of FUL's AIM quotation. The offer could lapse on day 60 (27 June) if not enough shareholders have accepted, highly unlikely imho.

[garth] 11/5/2010 06:02

bbd2,

Does UTN the tie-up with Akhter not concern you at all? Isn't it potentially a vehicle for directors to set margins and distribute risk where they want to the benefit of one company and detriment of the other - but whilst lining their own pockets?

[bbd2] 10/5/2010 22:10

Does anyone know when the offer expires. I can't seem to find a date in all the documents.

[ansc] 09/5/2010 17:17

Hi Ameer

I equate investing in the current turbulent/extremely volatile market scenario as similar to that of walking along a breezy cliff-top - you never know if a sudden unexpected gust of wind is going to blow you over the edge! That's why at the beginning of 2009, I decided to concentrate any new resources on just three companies: REF (since de-listed) which has been struggling ever since I first became involved but, following concerted shareholder pressure to get rid of a charlatan of a chair, is at last slowly returning to profitability; FUL which has finally come up trumps following the bid approach; and CAR.

I could eulogise at length about CAR (where I first put my toe in the water way back in 2001). I happily make a 400 mile round trip up to Wakefield each September to attend their AGM and have consequently got to know the directors well - unlike at FUL, both CEO and FD are both readily approachable and willing to give you as much detail on the company as LSE rules permit. The Stock Market simply hasn't got to grips with the changes which have taken place within CAR during the last decade but, take my word for it, these will eventually be transformational - I haven't been this excited about an investment for over 25 years! There is a highly informative thread (created by wan) well worth reading and he has recently posted a link - - which describes succinctly CAR's past/present evolvement. I have to admit to being in love with this company so much so that two-thirds of my portfolio is now resting on their shoulders; foolish or what? I've even written a note to my broker which I'll willingly e-mail to you, should you be interested, if you let me have your details. Their annual results are due to be released on 8th June so I'm hoping that FUL's proceeds have arrived in my bank account before then.

[bbd2] 07/5/2010 15:29

Ameer my main investment is SYM which by total coincidence is on fire this PM (I have been in for a while as you will see from my thread).

I have a 2 year view on UTN ( another green share backed by Akhter which if they pull off a solar venture could fly) and a smaller position in PTS and PET.

I am out of GON at the moment but had a very good run on them and may re-visit later. Mind you I don't always get it right having lost £70K on JRVS recently !! Still smiling though.

BBD2

[ameer] 07/5/2010 12:31

ansc/bbd2, obviously these directors are cashing in for selling Fulcrum on the cheap. I agree with you, it all doesn't seem to be fair to ordinary shareholders, but would the FSA be bothered?
On another subject, would you mind me asking if there are any interesting shares, you are looking at?

[bbd2] 06/5/2010 16:13

So was the delay because the insiders were trying to get FUL on the cheap ? Surely their involvement should have been declared in the RNS. Also was this the reason why the share price has been held back for so long and why didn't Halifax simply offer their funding services to FUL direct. Makes you wonder how hard the Directors worked to find a funding solution.

This all sounds very dodgy to me. Might be worth a letter to the FSA and an e-mail to a few newspaper hacks.

[ansc] 06/5/2010 09:59

I browsed through the offer documents last weekend which made interesting reading ..... well, at least the sections I could understand - why, in this day-and-age, can't these things be written in English that everyone understands?

A couple of points I found worthy of comment. Gold Metal UK (the offeror) has been incorporated as recently as 26 March 2010 for the sole purpose of making this bid; they in turn are a wholly-owned subsidiary of Gold Medal US (also recently incorporated for the same purpose) which, upon the offer being declared unconditional in all respects, will be advised or managed by SV Life Sciences or The Halifax Group. And who are involved at SV Life Sciences? Why, none other than FUL's chair Dr Armstrong and non-exec director Dr Carter. Coincidence? Bearing that in mind, why on earth did it take over six months to formulate a bid when so much must have already been known about FUL by these two? Barry Knight (FUL's FD) is going to be employed by the new organisation and yet is being paid £66,625 as a non-contractual compensatory payment. Why should that be deemed necessary when he's obviously going to benefit under the new organisation? Similarly, with Dr Armstrong already involved at SV - who will no doubt be benefiting once the bid goes through - does he need £187,063 as an incentive?

Understandably, many shareholders are not waiting for the bid to complete thereby qualifying for their 5.85p/share but rushing for the door and accepting the c. 5.6p being bid. Although I still think the company has been sold on the cheap, the result looks a foregone conclusion and I've bowed to the inevitable and signed on the dotted line for my 1.4 million holding; I already know where the proceeds of most of that will end up!

[mountain man] 29/4/2010 19:42

ansc
Got called away - thanks for your previous post - appreciated.