Sourcebio Share Discussion Threads

[pldazzle] 24/4/2024 08:54

Dividend cost the company c£20m in total and was evidently inspired by the sale of the Stability Storage division for - and I stress this is a pure guess on my part - perhaps £30-35m: actual proceeds have not been disclosed.

In addition, the company announced in February that it was buying in just under 5m shares at 115p, so there goes another c£5.7m. Plainly the company feels well able to splash the cash without detriment to its ongoing business.

But there is a mystery about the buy-in. The dividend was not annnounced prior to payment on 5 April, but the accompanying paperwork said it was being paid on the full c108m shares. That was the number in issue *before* the buy-in. According to Companies House the buy-in had been completed on 7 March, over four weeks before the dividend was paid without prior announcement - although the formal document notifying purchase of own shares, form SHO3, was signed on 7 March but not filed at Co's House until 18 April, less than a week ago. So clarification is needed: did the selling shareholder benefit covertly (by getting on for £1m) from the dividend which the rest of us rabble were not told about? Or was the number of shares on which the dividend was paid, incorrectly stated in the accompanying announcement, as c108m shares when it should have been c103m?

It's hard to know whether to be delighted at the unexpected windfall dividend and the evident boost to liquidity, or p*ssed off at the feeling that PI shareholders are being treated like mushrooms [kept in the dark and fed on sh*t] and that the outgoing shareholder may have gained a secret advantage.

[value hound] 24/4/2024 07:31

Yes - a huge one in % terms. No idea why. I had a quick look on the website but couldn't see anything and haven't had time to research further.

[mfhmfh] 23/4/2024 23:49

Was anyone else paid a dividend on 19th April?

[value hound] 04/6/2023 18:55

Is anyone keeping any kind of tabs on this one? I retained my shares following delisting FWIW

[supernumerary] 12/1/2023 21:56

bamboo - thanks. I'm at least as surprised as you ;¬) I've sat in such boardrooms and I don't ever remember the wellbeing of small holders being a matter of concern, but perhaps that's just the company I keep...

[bamboo2] 12/1/2023 20:25

sup, I always address the Ceo in email about all aspects of shares.
In my experience, it then gets a speedy reply from the most appropriate department.
The ceo is not necessarily involved, it just gets you a name to converse with in IR.

I am surprised, bur have a 100% replies.

[supernumerary] 12/1/2023 20:18

The registrar for holdings, your broker for buyers; not the CEO, especially not in a private company - he doesn't give a toss about you or your holdings.

[mfhmfh] 12/1/2023 19:49

Okay thanks. Very helpful.

[bamboo2] 12/1/2023 18:55

I would contact the co and ask the CEO who you should write to in order to confirm your holding and clarify your position.

If you want to sell, you could then ask if there are any buyers on the register.

[supernumerary] 12/1/2023 16:46

It means imo that you now have the same number of shares as before, but in a private company rather than a listed one.

Good luck.

[mfhmfh] 11/1/2023 17:54

Is anyone able to help?

I did not take up the tender offer by my broker ig.com. They have said my shares have now changed to the default position but they are not able to tell me what that means.

Any ideas?

[supernumerary] 04/1/2023 11:03

lol - says the bloke who was buying at 115 a month ago, and then decided to ask idiot questions on a bulleting board in order to try and understand his 'investment'.

Good luck anyway, let us know how you get on as a tiny holder in an unlisted company.

[finkie] 04/1/2023 10:08

the angle here was to wait for the tender offer to lapse ie they buy all the stock at 115p then move in when they arent buying i got an offer at 97p at one point which in hindsight was the right thing to do.

No they will not be back here. There reasoning was clear it would be ludicrous to then rejoin in 3-5 years time.

I hold a decent chunk now as a private equity holder, its too risky for novice players like supernumerary.

[supernumerary] 29/12/2022 11:21

finkie - don't be so lazy!


'As previously announced on 23 November 2022, following the approval of the proposed Cancellation by Shareholders at the General Meeting held today, the last day of dealings in the Company's Ordinary Shares on AIM will be 29 December 2022 and the Cancellation will become effective at 7:00 a.m. on 30 December 2022, subject to a Dealing Notice, as defined in the AIM Rules for Companies, being issued.

The Re-Registration of the Company as a private company is expected to take place on or around 18 January 2023.'

yes

yes; but 'at a lower price' makes no sense

9degrees - yes, farewell indeed. Been in and out here in the past, and was contemplating buying a chunk again, but saved by the bell. I suspect, however, they'll be back in some form or other...

[9degrees] 29/12/2022 10:09

Good bye SBI I feel i have been ripped off whatever their good intentions

[finkie] 17/12/2022 21:55

And a further question what happens to investors buying stock and holding at 100p do they still own a part of source bio as a private company but able to own at a lower price?

[finkie] 17/12/2022 21:52

Hi so I bought some at 115p 2 weeks ago with view of holding outside an isa and letting them run the business outside of the stock market as a private company.

Two questions when do they fully de list and my investment I assume just gets carried forward as a private company investor is that correct?

Thanks

[supernumerary] 16/12/2022 16:54

yep - too late now.

[mfhmfh] 16/12/2022 15:17

if anyone buys today at this level will they still receive 115p for their shares?

[smithless] 16/12/2022 12:17

Yep what a bunch of ....... floated a bag of..29/10/2020 which had a load of debt and was going nowhere. Raised enough cash at IPO to pay down debt at 162p when Covid madness was in full swing. Made a load of cash off pointless PCR testing and then paid way too much for LDPath (thank heavens I sold most of my holding before this). Now because PCR has come to an end and forward multiples are way too high for this kind of business and can't raise any money as a listed entity have shafted shareholders IMHO by delisting. I just can't trust them with the remainder of my holding so sold out. My advice don't listen to the Chris M VOX Christmas tip show this year (if he dares do one) and save yourselves a load of dosh. My wife did warn me when I mentioned LeCoque.

[assword] 09/12/2022 14:23

Just sold for 110 and moved on. Take the hit and learn a lesson or two. Thought best strike now with what little I got out of SBI to move for a stock awaiting results before end of Q4. At least I had the money to trade with now, rather than later. Hopefully it's a double bagger and I get back what I lost out on !!!

[charlotte2020] 08/12/2022 21:19

You can hold them still with a private equity listing. Depending on your Sipp provider