Patientline Share Discussion Threads

[cyberpost] 25/7/2008 13:13

Appointment of Joint Administrator (Patientline)




RNS Number : 9160Z
Patientline PLC
25 July 2008


25 July 2008

Patientline plc (in administration)
(the Company)
Appointment of joint administrators
Cancellation of listing

The Company announced earlier today that it had instructed its lawyers to file a notice of intention to appoint administrators over the Company and its shares were subsequently suspended.

The directors of the Company have appointed today as joint administrators of the Company, pursuant to paragraph 22 of Schedule B1 to the Insolvency Act 1986, Nicholas James Dargan and Nicholas Guy Edwards both of Deloitte & Touche LLP (Joint Administrators).

A request has been made to the UK Listing Authority that the listing of the Company's ordinary shares on the Official List of the UK Listing Authority and the admission of its ordinary shares to trading on the main market for
listed securities of the London Stock Exchange plc be cancelled. These cancellations are expected to take effect at 8.00 a.m. on Monday 28
July 2008.

The Company acting by the Joint Administrators has entered into a share purchase agreement and has sold the Company's subsidiary Patientline UK Limited to a newly incorporated company Hospedia Limited.

Shareholders should note that no value will be attributable to ordinary shares following the sale of Patientline UK Limited.

Enquiries in relation to the administration of Patientline PLC should be addressed to Jamie Harley on 020 7303 4820, or Vimala Camadoo on 020 7007 5098.

[jockblue] 25/7/2008 12:14

nmf777 - this is all with the benefit of hindsight though - at the time the contracts were signed and the kit rolled out, mobiles were definately thought to cause problems to hospital equipment, and hence there was a clear openign for alternatives to the payphone/rusty old telly. This is in much the same way as mobiles are still not acceptable in planes (although that will probably change) or on petrol forecourts today.

The mistake was clearly the form of funding, in which the government should have been forced to fund some of the rollout upfront. PTL had no money to make changes, improve the service or make significant inroads into helping its financing. However, once again, the call charges initially were not vastly different to mobile call charges at the time - 40p per minute was a fairly standard charge not many years ago....

Since then, PTL was up against it - rollouts didn't happen, wards were closed, a smear campaign by the Daily Hate, together with general incompetance from all concerned.

A sorry tale, and one that all who had some interest in should learn from. I learned never to invest in companies that rely on government contracts - the odds are continually stacked against them. PTL has been my biggest investing mistake to date, and I was lucky to exit a couple of years or so back at 9p.

[someuwin] 25/7/2008 11:56

...or, the receivers will have to sell the infrastructure to the NHS for virtually nothing (cos no one else will bid for it) Then everyone can have free TV and Phone in hospital.

[nmf777] 25/7/2008 11:56

the thing that really pi$$ed me off with this lot was that their equipment was so damn noisy ... last time my wife was in hospital the damned console thing was humming away all night long. absolute heap of sh1te. even if the business model is flawed you would have thought at the very least they would have fielded kit that was fit for purpose

[nmf777] 25/7/2008 11:53

no, mobile phones are the way forward. there is no problem with mobiles except for a few special situations. PTL know this, the hospitals know it and give tacit approval for their use in nearly all hospital environments. PTL were seeking to exploit the fact that there is nervousness about this in some quarters however. ultimately this was only ever going one way.

[jockblue] 25/7/2008 11:50

You'll be looking forward to the payphone and the black and white portable in the dayroom then nmf777?

[nmf777] 25/7/2008 11:48

good riddance. shocking company, appalling product, business model an abomination. suprised they ever convinced anyone it could work. condolences to holders or those that lost money on this nonsense

[jonc] 25/7/2008 11:16

Administration then......

[jockblue] 25/7/2008 11:16

Administrators appointed....

Can't say I'm surprised, and it will be interesting (though not to the existing shareholders) to see what rises from the ashes of the service.

[jonc] 25/7/2008 10:52

Game over????


NOTICE OF TEMPORARY SUSPENSION OF LISTING FROM THE OFFICIAL LIST

25/07/2008 10:50 AM

TEMPORARY SUSPENSION

[praipus] 23/7/2008 18:06

Health care stocks in Amaerica rebounding strongly.....now there's an idea...I wonder if they have Patientline type services in the USA?

or a health care services company looking for european earnings potential?

[praipus] 21/7/2008 11:31

The website looks like it has been revamped and some new trust and hospital services added.



and you can buy access to the services as a gift for patients!

[scribbler101] 06/7/2008 23:30

nmf777 - why awful?

Or do you mean that you were in awe of its full wonders?

[nmf777] 06/7/2008 22:35

is this outfit still in business? having seen at first hand their awful equipment when I was a regular hospital visitor in January 07 I thought they'd be sunk by now. nasty looking chart mind you

[praipus] 03/7/2008 10:00

500% return!!!!!!! Respect....no dealing charges, no bid offer spread, no media talking the stock down, no management hiccups, no credit crunch issues pure 500% profit...beautiful.

It is surely a sign.

[scribbler101] 03/7/2008 00:19

I WON LOTTO TONIGHT!

NOT; ADMITTEDLY, THE FULL £2.4m.

But £10 is £10? On only 2 £1 tickets.

And if I was a beleiver in portents....?

[praipus] 02/7/2008 21:32

14m to 1 got to be worth it.

I'm trying CRUDE.L ETF's to go long of crude oil and SOIL.L to go short of crude oil. Great fun while waiting hopefully it might be they are just ironing out the refinancing and announcing some new orders which see a 150% rise in share price ....that probably 28m to 1 so the lotto is probably very good move.

[scribbler101] 02/7/2008 18:57

Late results are usually bad!

I put my faith in Lotto.

[praipus] 02/7/2008 10:38

Leedslad01 any chance of adding this URL to the header?

[praipus] 02/7/2008 10:20

Also tried to offer some of my enormous holding to the market and there is no offer!...lol

However the ability to buy in size remains.

No surprise really, still quietly optimistic.

[praipus] 02/7/2008 10:08

I note from the companies website that the 2008 preliminary results were due out in June.

Have I missed them?

[scribbler101] 01/7/2008 23:45

This price can't fall far.

[praipus] 01/7/2008 09:38

This is probably (apart from the increasing cost of money) quite recession proof. Revenues will flow regardless of economic conditions. They also have monopolistic qualities.

Share prices though can do anything.