Lifeline Sci Share Discussion Threads

[battlebus2] 08/12/2016 19:05

Lovely jubbly.

[wjccghcc] 08/12/2016 18:22

Thanks GHF. Yes I topped up with a few on that dip also but was concerned about being too overexposed. Luckily the Chinese government clamping down on international acquisitions came too late for this deal.

[glasshalfull] 08/12/2016 18:08

Pleased with that, especially on share weakness resulting from nervous sellers on the merger announcement at the beginning of September, which forced the share price down to c.£2.70 at one point. Great opportunity to top up.

Only minor irritant is that we are a week late to close in term of £ v $ movement. It was bouncing around 1.20 recently.

Also excellent news that accounts are to be credited within 5 working days. I've a fair slug of these so lovely to be repatriated with monies this side of Christmas.

Well done WJ and others...I was relatively late to the share (c.250p) but delighted to learn a number of holders did very well out of this.

:-)

Kind regards,
GHF

[wjccghcc] 08/12/2016 17:41

As SJ says. 321.3p with the purchase amount deposited with the paying agent and Crest accounts to be credited within 5 working days.

Bought my first batch at 145p in 2014, then topped up quite a lot through 2015 so worked out very well. Sorry to see them go.

[sailing john] 08/12/2016 16:43

Current rate 1.2554 = 325p
RNS out - using yesterday's close as published in FT £3.213

[somerset lad] 08/12/2016 10:57

Thank you both.

[sailing john] 08/12/2016 10:15

Completion sometime later today (USA time I assume so probably after the close)
AIM cancellation from 07.00 tomorrow
So we should get AIM canc notice tomorrow and hopefully notification of final price
Xrate currently 1.2686 equivalent to just under 322p so I'm expecting around 320p
I don't expect it to hit my account for a couple of weeks
SJ

Edit WJ - Didn't see your response before I posted but looks like we are saying exactly the same thing

[wjccghcc] 08/12/2016 10:10

No. Closing of the merger is tomorrow so today is the last day you can trade your shares. Cash usually follows a couple of weeks after closing so given Christmas, I'd guess by the end of December.

FX rate will be set by what's published in the FT tomorrow morning. Current spot FX is $1.269 which gives a price of 322p. So if you don't want to wait for the cash, then you can sell today and accept 17p less.

[somerset lad] 08/12/2016 09:51

I was expecting cash today or an RNS explaining any delay. Does anyone know what's going on?

[trier1] 28/11/2016 12:51

Thanks, good to know.

[toyin] 24/11/2016 17:24

trier1

They are not aloud to do that, LSIC will use the exchange rate printed in the FT on the day it happens so your broker will not be involved with exchange rates.

All the best

[trier1] 24/11/2016 16:34

Well brokers will knock off something from the official rate. I'm only banking on getting 3.25

[toyin] 23/11/2016 10:58

yamaha865

Nothing.

All the best

[yamaha865] 21/11/2016 11:03

On current exchange rate £3.31 will be received on 8 December. Current price £3.08. What am I missing??

[trier1] 14/11/2016 13:42

They have a new product ready to launch as soon as they get approval of course they can grow organically. I wonder how soon it will launch as news on it has gone very quiet recently.

[2vdm] 10/11/2016 12:40

Thanks GHF and an interesting read. I assume that the BOD felt that they couldn't continue growing organically, although it appears that we had a unique product and were achieving increasing sales when the BOD started looking for a merger/purchaser.

[glasshalfull] 08/11/2016 15:42

2vdm - Worthwhile reading from p27 of the offer document (shareholder circular) which provides detailed background on how the merger agreement came about.



With exception of a NASDAQ listing, it appears (to me) that they explored numerous options....especially when one considers that they contacted 123 potential buyers!!!

Extract:-

On September 21, 2015, LSI announced its intention to explore a full range of strategic and financial alternatives to enhance stockholder value and that it had retained Piper Jaffray, to assist in this process. One of the strategic alternatives considered as part of this process was a sale of LSI.

Following the strategic review announcement, Piper Jaffray received incoming interest as well as contacted a number of parties.

In total, 87 potential strategic buyers and 36 financial buyers were contacted as part of the process and non-disclosure agreements were agreed and signed with 18 parties. Purchaser, also being our national distributor in China, was initially not considered for taking part in the process as we believed that, given the September 2015 China FDA regulatory approval of LSI products, Purchaser should focus on preparations of the next phase of their commercial roll-out of the Company's product line in China as planned for 2016. We were also then in the later stages of negotiating certain orders with Purchaser to support this roll-out, which orders were finalized and announced on December 18, 2015.

Having expressed an interest in being included in the process, Purchaser signed a non-disclosure agreement on January 4, 2016.

A meeting was held in Chicago on January 22, 2016 with representatives of LSI, Purchaser and Piper Jaffray to present our business and future plans. Similar meetings were also held with several other interested parties during December 2015 and January 2016.

On January 19, 2016 we announced that revenues and profits for the year ended December 31, 2015 would be ahead of market expectations. All interested parties were provided with further details of such trading update.

Preliminary non-binding offers were received from five parties in early February 2016, including three potential cash offers and two potential (non-cash) stock offers. The non-binding cash offers included an initial cash offer by Purchaser of 256 pence per share.

Following a meeting of our board of directors on February 8, 2016, Piper Jaffray informed Purchaser and the other two cash bidders that their non-binding offers were not sufficient to be taken forward in the process and needed to be materially higher in order to proceed.

On February 18, 2016, Purchaser submitted a revised non-binding cash offer of 300 pence per share. The other two cash offer bidders informed Piper Jaffray that they were not willing to bid higher than their original non-binding offer. Purchaser was invited to continue into the next stage of the process and provided with final bid instructions on February 18, 2016. As part of the bid instructions Purchaser was requested to provide comments on a draft Merger Agreement that would be distributed subsequently and was requested to submit these comments along with a final bid on March 24, 2016.

On March 1, 2016, Piper Jaffray distributed a draft Merger Agreement to Purchaser. In addition to Purchaser, we continued discussions with another party (the “Other Party”) that had submitted a non-binding, non-cash stock offer in early February 2016. Purchaser and such Other Party were then provided with additional access to a data room as well as management to allow them to conduct full due diligence.

etc, etc.


Kind regards
GHF

[2vdm] 08/11/2016 12:09

Thanks. I think we've sold out very cheaply, but a profit is a profit.

[wjccghcc] 08/11/2016 07:53

Closing scheduled for 9/12 subject to regulatory approvals. Payment will be after that.

[2vdm] 08/11/2016 07:45

When do we get paid please?

[wjccghcc] 11/10/2016 09:23

Agreed. Had a few more at 299p. 10% in 2 months provided the £ doesn't strengthen.

[glasshalfull] 11/10/2016 08:49

Well £ v $ exchange rate certainly making this look more attractive.

Offer price now up to £3.32 at the current exchange rate $1.23....over 12% more than the current mid.


Regards
GHF

[trier1] 06/10/2016 15:38

No surprise and they couldn't even be bothered to show the actual votes

[battlebus2] 06/10/2016 15:28

All resolutions passed.

[cockerhoop] 03/10/2016 22:43

Offer price moved up to £3.18 at the current exchange rate $1.284/£