Syncona Share Discussion Threads

[eggflip] 12/4/2012 15:38

Well it doesn't really make any sense at all and they are just quoting the Myriad RNS from last week as their source. If the offer has gone unconditional I don't see how 72% can accept yet Myriad is only taking up 67.5% ownership.

Sounds like they've actually been reading the Proactive bodge and made an even bigger bodge of it themselves!

I should think Myriad are desperately hoping they can get 75%, which is the magic number to de-list and as Sync's price moved up today there may have been a leak that they have this now so everyone is trying to be the first to report it without actually having any hard facts, but who knows.

[plunge] 12/4/2012 15:02

Myriad bid for Synchronica Accepted.
The Myriad offer for Synchronica has been accepted by Synchronica shareholders with 72% acceptance. Myriad is to take up 67.5% ownership.

The second closing date fro the offer is April 16th to allow Canadian shareholders of Synchronica to vote. The offer is to remain open until the end of April 2012, after which it will close.

I am not sure how to interpret the 72% acceptance by SYNC shareholders but MYRN only taking up 67.5% ownership. Any views?

[eggflip] 12/4/2012 12:14

Hmm, probably the reason Nokia couldn't give a definite answer on whether they would require Sync to hand over the funding from Intertainment. They probably wanted to let Sync go ahead with the deal but if it came to it, they were prepared to pull the rug out from under Sync to save their own skin?

Also, if Nokia are in trouble, another reason they would prefer to go with Myriad rather than have to keep giving Sync favourable payment terms to keep them afloat.

Well, Nokia may have effectively handed the sprat over to Myriad to be subsumed but looks like the shark is now nibbling away at Nokia.

[master rsi] 12/4/2012 11:37

1 Month

3 month

[master rsi] 12/4/2012 11:23

Exchange rate Today £ 1 = CHF 1.4606

[eggflip] 12/4/2012 10:22

joe - do you have a link? The only one I could find was this one with the typo (i.e. 67.5% in the heading and 76.55% in the text).



The offer actually went unconditional on 5th April after Myriad received 67.55%. The article also has the closing date wrong, as (unless Myriad extend it again) it is currently 16 April, not the end of April.

Not sure how they can release an article that sloppily put together.

Bad management followed by bad reporting on the subject. What chance do we stand?

[plunge] 12/4/2012 09:45

Thanks neubie and best wishes to you in your investing endeavours.

I can't help thinking that a lot of PIs may have bailed out too soon and not given Myriad's management a fair crack of the whip. With the benefit of hindsight the latter have fought for and now got what they want. Whilst their tactics may have been questionable, their passion and desire to win tells me something.

SW and his gang, together with heavy weight support from Fidelity and Nokia, should not be dismissed too soon. However, only time will tell.

Good luck to us remaining stalwarts ......

[neubie] 12/4/2012 06:39

Good luck to all those who now hold Myriad shares...it goes without saying with all your other investments aswell.

Best regards,

neubie/pugshares

[sharejock] 12/4/2012 02:26

Chinese:Maybe it's past my bedtime but I'm thinking that if your figs above re CHF to GBP etc are correct they value Sync at £12.69 which really would be free money....

Also, just a thought, Swiss Central Bank recently devalued the CHF (which lost the head of the bank his job: his wife shorted the currency 2 weeks before the Bank's move to devalue it). If the currency rises again, this could provide upside when converting to sterling.

Or, maybe it's a possible hedge against drop in value of GBP? ...all very complicated.

[master rsi] 11/4/2012 15:24

Myriad share price spread seems very small( very good in future selling by holders)
CHF 3.95 / 3.96

compare to SYNC 11.75 / 12.50p

[joestraughan] 11/4/2012 15:09

I see the offer went unconditional yesterday with myriad over the 75% mark (according to Proactive Investors).
Good riddance to bad rubbish! (great tech but deplorable management).

[scalpface] 10/4/2012 18:15

thanks plunge... I need myrn to be worth 5.75 to break even and the 1 year chart shows 'I should be so lucky!' ..

[plunge] 10/4/2012 13:11

scalpface

I have already pledged my shares. Basically Myriad now control the show. So, you really only have two options available:

1. Sell your SYNC holding in the open market, or
2. Go along with MYRN.

[scalpface] 10/4/2012 13:02

I feel like I am being held to ransom in this situation.. what is everyone doing? Taking the offer or stalling?

[mattab] 08/4/2012 22:55

Q:

Are Myriad the White Knight or will another player enter the fray?

Likely the former on balance but I am not so convinced as I was.

It is plausible IMO - near 90% at this juncture and no doubt game over.

But........

Near 1 in 3 NOT pledging. Of the just over 2 in 3 pledging how many in particular the PI's had no choice if they wanted to hold.

According to a poster on LSE NM has left Myriad - no proof at this time - but to watch out for. Bit like a Bond film outlived her usefulness (info to Myriad) and had to go - if true of course. Makes me more comforted holding Myriad (presume our destiny) with her not involved.

[mattab] 08/4/2012 22:33

There is still nearly 1 in 3 not pledged. With Sync questionable independence to say the least and only one offer on the table are posters surprised on the high block?

Consensus was between 75-90% I thought below 75% - I would have been surprised if there was that level of block with us all not pledging across all three boards plus whomever else - that was obviously not going to happen - the mass selling in the market from PI's is obvious and severe.

Must have balls of steel not to pledge if you had held. So I very much doubt much of that 1 in 3 are PI's - so who owns that near 1 in 3 shareholding who has the confidence NOT to pledge when as far as we all know - what is in the public domain - it is simple sell or pledge.

Massive volume still unaccounted for as regards ownership. Circa the level of not pledging.

If you check the RNS's from BZ - all released on the 19th with the 6.24% resultant current holding released on the 20th.

From iii:-

Purchases 5.61m Sales 3.57m

Purchases 6.05m Sales 3m

Purchases 3.1m Sales 1.5m

Purchases 0.25m

Purchases 1.5m

Purchases 1.6m

20th:- Purchases 3.5m Sales 5.91m

These shares were sold but who purchased them?

Many PI's have sold - probably ten's of millions cumulative shares over the last few weeks. These have been bought by the wider market - RNS's from Oddo and RIM only cover a small percentage of volume - add in the BZ. Unless under 1% I reckon minimum 30% of the shares in issue are not ascribed in ownership.

Q - care to comment?

[restassured] 05/4/2012 13:52

You have to remember there will be a lot of shareholders that paid far higher prices and are probably dragging their feet,bcause they have lost almost everything as it is.

They are hardly going to want to dance their way into what basically amounts to an execution.

[joestraughan] 05/4/2012 10:30

I see myriad have control.
matt - myriad now have control over the financial and operating policy of sync - it won't be long before they get 75% - and as they have made loans to sync, they call all the shots.

rest - I agree wholeheartedly with your post about the BoD. I shall be watching closely to see where any of them end up - as I won't be investing in any company they are involved with!

[restassured] 05/4/2012 07:40

Q is full of sh£t we all know it.His brother in Canada with inside informations about a white knight.All pure fantasy
Remember all his long tedious postings of utter drivel?

This deal is all but done,now it is just a mopping up exercise.

Once again it appears we have come across another aim company where the bod are lying scumbags.

I am actually quite grateful that Myriad saved our bacon.

On to the next,once this is done and dusted.