Syncona Share Discussion Threads

[chinese investor] 09/8/2013 15:01

Ancient News !

James Bodha, CFO of Swiss messaging software and services provider Myriad, is taking over for CEO Simon Wilkinson. Wilkinson is leaving the company just months after the acquisition of rival Synchronica, and the takeover is turning out to be far more costly than initially expected.

James Bodha, CFO of Myriad, is taking over for CEO Simon Wilkinson.

In April this year, Swiss IT company Myriad took over UK-based rival Synchronica. The deal was a major pet project of Myriad's CEO Simon Wilkinson, who wanted to turn the company into one of the largest messaging software and services providers in the world. However, the £24 million deal was probably too big for Myriad.

In its half-year results for 2012, Myriad reports revenues of $25 million, down from $35 million for the same period in 2011. The biggest part of this sharp drop can be attributed to falling device licensing revenues, which declined from over $21 million to just under $11 million. As a result, the company's Ebitda margin fell from 20% last year to minus 25% this year, posting negative Ebitda of more than $6 million. For the first 6 months of 2011, Myriad had more than $7 million in profits.

There could hardly be a time that is less suited for digesting an ill-fated acquisition. This obviously prompted CEO Wilkinson to resign with immediate effect on 26 September. Now, all hopes rest on CFO James Bodha to turn things around as he stands in as co-CEO with the company's chief operating officer Gary Bunney and chief marketing officer Mike Grant. The search for a new full-time CEO is under way.

[chinese investor] 09/8/2013 14:55

Take out price was 4.50 swiss francs.
Current price is 1.50 swiss francs.

[comcols] 24/2/2013 04:01

targa, sorry for the delay mate, forgot totally id even posted on this web page until yet again this Mis sold shares thing came back to me.. will drop you an email pal.. take care ..

[targatarga] 01/2/2013 10:35

hi comcols - hope alls well. I'm nearly busted. My largest holdings are the main underperformers in the market. Need to change my therapist.... regards tt

[comcols] 01/2/2013 10:30

In Thailand but seems the UK house has had a letter dropped on the mat, from Mis Sold Shares ?? they wish to know my status ?? Anyone else had this ? if so whats it all about, im waiting for bro to scan and send to me..

[grannyboy] 25/10/2012 14:49

Well it looks like Myriads share price has worked out for ex SYNC shareholders who took their toilet paper.. NOT!!

Or have i missed something?....

[plunge] 25/10/2012 14:06

I wonder how much of this rights issue will go to meeting Simon Wilkinson's departure package.

[pjdeery] 04/10/2012 15:08

Chinese,
Thanks for that. I got a reply from Myriad as laid out below.

I have spoken to BZ Bank who are administering the rights issue, they advise:

The private investor should inform his broker that he wil exercise his Myriad -rights-.

His broker will send this instruction further to his bank or custodian and they inform the next....

Finally, we will receive this instruction from our global custodian.

Deadline for our global custodian is October 12, 12am.

For the intermediary banks one or two days earlier.

The investor should inform his broker as soon as possible so that enough time is allowed.

Based on the above i have proceeded to apply for my entitlement.My broker called earlier today to tell me they only recieved the same details today and that a £40 charge will be made as Myriad is not a UK registered company.

[chinese investor] 04/10/2012 12:46

pjdeery,
I got this from selftrade.
The date is correct.

[pjdeery] 03/10/2012 13:19

Chinese,
The person dealing with this for me at my brokers has been sick since yesterday so I am in limbo at the moment.Can I ask you where you got the above info from and if the 7 October date is correct(7 October being Sunday).
I have sent an email to their "investor relation's dept" and am awaiting a reply.

[chinese investor] 03/10/2012 08:33

RIGHTS ISSUE Myriad Group AG has announced a rights issue.

You have been allotted 1 Right for every share held as at 27 September 2012 and every 14 Rights may be exchanged for 1 new share at CHF2.5 per new
share. Restrictions may apply.

We have been advised that oversubscription to this offer is possible.

If you wish to subscribe for any new shares and believe you are eligible, please elect online where available or else notify us in writing by secure message or letter no later than 5.00pm on 7 October 2012.

[pjdeery] 01/10/2012 22:29

Plunge,
Thanks for that link,I did quickly look at the offer PDF on Sunday but overlooked the UK item.I will wait for my broker's reply on Tuesday and proceed from there.I will post their info here.

[plunge] 01/10/2012 21:01

pjdeery

According to the offering prospective it appears there are a lot of country specific sale restrictions in terms of shareholders taking up their rights



It seems this offer has been structured to favour selected 'friends' of Myriad.

Good luck

[pjdeery] 01/10/2012 16:17

I intend to take up the rights but as yet no paperwork recieved.Has any holder had any communication re the rights issue? My broker hopes to have all the details for me later today or sometime Tuesday.

[plunge] 15/9/2012 21:35

An insightful article which supports in part Myriad's current strategy:

[targatarga] 07/9/2012 07:45

looking at the chart sync hasn't helped myriads share price... imho

[maqsud] 11/8/2012 20:12

Pj...Thanks
Time to accumulate at these levels before Sept results

[pjdeery] 06/8/2012 14:56

maqsud,
According to the FT the market cap today is 153.65 Million Swiss Francs.If my maths are right this equals approx £101 Million.

[maqsud] 31/7/2012 22:11

What is the mkt cap of Myriad as of today in sterling?

[pjdeery] 17/7/2012 17:38

Very nice article Plunge. Thanks for the link.

[plunge] 16/7/2012 20:40

Myriad on track with the Synchronica acquisition



It appears that SW is absolutely focused in making this purchase work.

[restassured] 14/6/2012 10:03

Thank f$$$ I sold those poisonous Myriad shares as soon as I received them as they are now just over 3CHF.

Still overvalued junk.

[sharejock] 30/5/2012 22:22

grannyboy: Thanks! You too!

[grannyboy] 30/5/2012 21:47

Yes Sharejock gas prices are low in the US, thats why a lot of E&P's are seeking out fields that contain the black gold, As to Chesapeake i believe the gaffers been giving out unofficial loans or something to that effect?..

But GL whatever you decide..