Mediwatch Share Discussion Threads

[totally banjo] 03/12/2013 09:48

I agree with you there hulk as in the 2 years time frame...that's what usually happens from my experience unless of course MDW 'the company' have more to offer and will get the backing from other investors if the current insti's/investors sell out.

All depends on how the voting goes as in the next step.

[totally banjo] 03/12/2013 09:43

trout-nope

[troutisout] 03/12/2013 09:38

Banjo, have you still got your old Hotmail address?

[hulk2004] 03/12/2013 09:37

So they are paying 8.5 for shares,1.8 of debt, 1mill to stimpson plus other directos, total 12mill, why pay if you can get it for nothing in 2 years time? PSA approval in next 9 months?sorry it does all stink though but that is AIM business!

[totally banjo] 03/12/2013 09:26

trout, re post 1265,you are making a lot of assumptions there....not saying you are right or wrong.

[troutisout] 03/12/2013 08:47

and with no consumables, there will be no market for the capital equipment, it is a huge blow for MDW and why Audax hold all the cards.

Trout.

[barrywhit] 03/12/2013 08:42

If Laborie hadn't acquired T-Doc we would be in a far stronger position, but T-Doc supply MDW with most of their consumables...

[barrywhit] 03/12/2013 08:36

Morning All,

Some strong views aired, nothing wrong with that. In my opinion Laborie are getting a bargain, but they are paying a lot more than the £8.48million for MDW, they are also paying off £1.81million of debt. I'm surprised by the debt figure but when you read the agreement thoroughly MDW have obviously been struggling financially. Dorset made a point about the monopolies commission read the agreement thoroughly and make up your own mind...... Laborie have tied up all ends in the agreement......

[troutisout] 03/12/2013 08:33

Opto, the answer is simple, I have 'pushed' MDW for the past couple of years simply because it was worth more than £3.5m, now it hasn't just been words, I have invested a lot of money in MDW over that time as well.
I can only form opinions from what I have in front of me at the time and obviously since this offer has come out so have other things and one of those things was to see what the resolve of the major holders were. Having spoken to half a dozen of the largest holders and instis, I now know they are not for anything but an exit. I also know their level of knowledge on the Company is very good, it eclipses that of a lowly PI.

Since then I have found out about the debt situation, the T-Doc acquisition and really the only Urodynamic company likely to buy us was Laborie. It would have been great if the share price was 6p and they then came to offer, we would have probably got 8p or 9p then, however the share price wasn't there and the present fundamentals mean a much higher bid is not justified.

So with all these factors coming out now, yes I have decided that there are no real alternatives.

Trout.

[troutisout] 03/12/2013 08:10

banjo/opto,
As I have always done on these threads, I have tried to post honestly and what I have found out, some of the stuff I cannot post on a public forum, some of the stuff is from private e-mails and therefore I cannot repeat. The nature of this is being spun by some here, who I believe are still wanting to see MDW fail, the only way they can do that is see the offer voted down.

Why am I so sure of that, because I am, yes my average is much lower than 6p, yes it is not all about me, but read those posts above and see what has happened less than 6 months later. I have posted what I think from what I have learned at the time. I posted there could be an offer at 6p and this would only be higher if the share price moved upwards and the market supported the price, it didn't so 6p has rolled up. I couldn't make you all buy back then, I didn't want to do that, but I wanted to try and say what I saw as the options so that people could make up their own minds. unfortunately my posts were soon drowned by some trying to score points and so maybe some missed the message in them.

Now the one hope here was a counter bid, we haven't got one. We have Directors and Institutions/large shareholders voting yes for the offer. Why do you think they are doing so? Stop the dreaming of what could be and think what would happen after a No vote, the share price would drop back, most of the above shareholders would sell out and you have no chance of anyone else buying their shares, why because these people know what is happening what the options are or are not.

If you are moaning about an offer at 6p, I can't wait to see what you say when the share price is back down at sub 2p. Remember when the share price was at 2p only a few people kept on buying through that, these same people won't be able to do that again, there is no way the market will soak up Institutional sells, let alone if PS decides to call it a day.

Read the document, MDW's debt will be £1.8m by the end of the scheme period and that is without all the costs of this offer, the costs of an aborted offer would be down to Mediwatch in the case of a no vote. Last time that was £100k and there wasn't even an offer made, this time it would be multiples of that, where will they get the money to pay for that? Have a look at the loans they have recently taken out, who they were with and at what rate, does that look sustainable?

Please think and don't listen to posters who have continually been negative about MDW, that have been caught out with the offer and subsequent rise and are trying to persuade you to cut off your nose to spite your face.
6p is far better than 2p,1p or even nothing, don't let emotion get in the way here, this is about cold finance here.

DYOR,

Trout.

[totally banjo] 03/12/2013 00:41

p1nkfish-I'm sure it's not as simplistic as you/others portray, I'm voting NO,when I eventually post them.

£8M for a company that may or may not cause problems in the future for another growing company ie Laborie, is a bargain just to put a tick in a box!

[p1nkfish] 02/12/2013 23:53

opto - well put.

banjo, if there was no future for MDW (if Laborie could destroy them) why the hell pay £8M for a basket case?

They are paying £8M, with all the "bad stuff" because they are convinced they are getting >> £8M value.

They are paying much more than £8M as they are paying the CEO £1M and the other BoD members in future. We can see what the CEO is worth by looking at what has happened here.

Audax will not pay £8M+ for a basket case that they can destroy if they want to.

Wake up. Ask questions. Some people will spin info to get their way. Trout has an average < 3p or so. Use some common.

I want to see this as a UK PLC. It's called investing.

I have good holding in other pure UK PLC's that are doing well and have had hard times. Some are flying now I am glad to be able to say. Mediwatch would have to cut and focus but if Audax are prepared to pay £8M there is currently more than £8M value here.

[optomistic] 02/12/2013 23:44

Trout, this extract from your post is a long long way from your views in the past. I wonder if there had been no takeover approach would you have still been pushing MDW like you have been for years?

"far better than the alternative, which I believe would be a slow and painful demise."

[troutisout] 02/12/2013 23:07

Just goes to show you never read my posts.....

[dorset64] 02/12/2013 22:47

troutisout 2 Dec'13 - 22:37 - 1256 of 1256 0 0

You speak from a point of ignorance, you make judgements from afar, how do you know what has been happening over the past months?

It is not for me to wipe your backside...........
---------------------------------------------

I wish you well & you come back with the same old garbage. I bet you argue with your own shadow while others on here laugh at your posting style. Enough said.

Just accept you were shafted like all other shareholders, that is of course if you didn't know what was coming which, if you did shame on you even more for not pointing it out to the other long term holders firstly, but hey, thats just your style as shown above.

[dorset64] 02/12/2013 22:14

Agree 70% trout except for 'the alternative is bleak' as that has only come to light since Friday. Today your post above may well be 100% correct, but it wasn't last week when you were still pushing investors the way of accepting the offer.

As I said before, look back at my posts if you cant remember, but I already stated that with the last newsletter, albeit hidden away so no-one could freely find it but after that newsletter I honestly thought, and posted the fact, that the company was/had/is turning the corner and was looking to be one that I would invest further in, that was until the fine print came out which doesn't excuse them for not knowing what was occurring in their very own industry & back yard.

I wish you well in your other investments.

[troutisout] 02/12/2013 22:07

Dorset, Nice try fella, but you have had two and a half years to buy, now is the time to reap the reward of those buys. Yes it would have been good to have got a higher offer, but that would have come with more time and more progress, but once Laborie/Audax made it clear they were after Mediwatch, they will have it one way or another. So the options are 6p in cash or no takeover and Laborie/Audax take our company slowly from underneath us.

Are you really saying that shareholders should reject this?

Trust me if I thought there was another option I would be going for it, but there isn't and therefore I will be voting for it and think everyone else should.
That has nothing to do with whether this was a good investment, whether the BoD were good or not, or even what MDW still had to offer, it is all to do with the fact that Laborie/Audax are offering 6p in cash and the alternative is bleak.

[troutisout] 02/12/2013 21:31

ABC, For the record I have stated that I felt the offer was on the low side of acceptable. I have however said ever since the AGM that an offer was very possible and that I would be happy with X,Y or Z, I then stated my X was 6p my Y was 10p and Z 14p, however the latter two would have required FDA approval of PSAwatch to really see it happen.
I have spoken with people far closer to the Company than us and they have all said the were happy to exit at this level, their views of the future were hardly effusive.
So I have accepted that this was going to be it, there was really not going to be another offer after the first 4 weeks went by. I couldn't see Laborie allowing MDW to just vote against the offer and then continue as if nothing happened. Then to see the T-Doc acquisition news meant that Laborie had a stranglehold on MDW, MMS and several other urodynamic equipment companies.
Now I know there are a couple of people here with little or no holding trying to persuade others to vote against, but I firmly believe that acceptance of 6p is far better than the alternative, which I believe would be a slow and painful demise.

Trout.

[dorset64] 02/12/2013 20:07

i was actually looking forward to buying some more if/when this deal was thrown out as, to be fair to him, it did actually appear on the face of things that MDW was turning a corner. If they had not sold out right now Trout in time I believe would had been right, but then I guess if you sing the same tune for donkey years something has to come your way soon.

I like others am just surprised how now, all of a sudden & before his read on Friday, MDW were going nowhere apparently and this deal is in the best interests of shareholders, which imv it is most definately not. It would appear Trout & I are like passing ships, in that I was actually coming on board and happy to buy more, whereas he was happy to get what he could despite what the future may or may not had in stall for us all. Strange one.

[abc125] 02/12/2013 19:41

Agree dorset, nothing against troutie, but i'm just surprised he is so totally uncritical of this low ball offer (imho) when he was MDW's biggest ramper. Surely he can't be happy with 10 wasted years? He says he made a profit, but was that all he was hoping for.....or a life changing investment? The latter i guess.


p.s. Me and troutie go way back lol. He first bought mdw to my attention in early 2008 when it was trading at 14p. Seems like a lifetime ago.

[dorset64] 02/12/2013 19:33

Interesting posts over the last couple of days, and with most I agree with 50% or more, even trouts. The one thing I am struggling to understand is that pretty much right from the off Trout, you were effectively 100% behind this deal in saying that it was the best thing for MDW, the BoD's & shareholders as, as you quite rightly keep announcing, the price we get is 6p against prior to the deal 2.5p. What confuses me now is that you are now basing your assumptions on the small print which you only read on Friday, correct me if I'm wrong, as opposed to now any other part of the deal.

If they are buying up the whole industry and as MDW is a plc, should the monopolies commission not be advised/brought in (not sure of the rules of such so don't know if that is correct) as if this with all the other deals having gone through, they will now effectively control not only the whole market distribution networks, but could hold the NHS/others to ransom for a higher price.

As for you having another go at pinkish/totally banjo et al its been the same for years for anyone who should dare hold a contrarian view. Face it we all have differing views, on pretty much everything in life but if you go back a few years on this very thread, you will find yourself saying exactly the same then, as you had been up until a couple of weeks ago when you suddenly changed your tune.

I've been lambasted by you & others but in the end, my view of the BoD's have not changed a bit, they were running a steer less ship and yes, PS did jump at the first hurdle as if he was serious about his business, and had his eye on the ball he would had seen the benefits of MDW buying out suppliers instead of letting others do it first, and then throwing long term investors to the wolves.

Those good at business do not just look at themselves, they know what their competitors/suppliers/customers are doing & who they are talking to, so if this deal has gone through solely, as you now put it, down to them losing their suppliers, then why the heck did they not see that coming and act upon it before it arrived.