York Pharma Share Discussion Threads

[topinfo] 15/7/2009 18:35

RNS Number : 4455U
York Pharma plc
24 June 2009

?
York Pharma plc
("York" or the "Company")


Update on merger discussions


The Board of York today announces that the discussions between the Company and
ULURU Inc. ("ULURU") concerning a proposed offer ("the Offer") by ULURU for the
Company under the Takeover Code on the proposed terms indicated in the joint
announcement on 7 April 2009 have been terminated.


On 7 April 2009, York and ULURU also confirmed that Uluru had made available to
York a $1 million short term secured line of credit, necessary to allow the
Company to continue trading through the period needed to complete any formal
offer for the Company under the Takeover Code. ULURU has given notice to the
Company for the repayment, within 30 days, of the $1 million line of credit
(together with accrued interest) previously advanced to the Company by ULURU.


York is now actively pursuing alternative funding facilities in order to repay
the line of credit within 30 days and to meet its ongoing working capital
requirements. If the Company's fund raising efforts are unsuccessful, this will
have a material adverse effect on the Company's financial position and
operations. The Company will provide a further update as and when appropriate.


The Board of York understands that ULURU continues to consider its position with
respect to the Company and a further announcement will be made as and when
appropriate.

[topinfo] 15/7/2009 18:06

JSMan...Many of us have spoken with RA and to be fair he has never given much away as he cant due to FSA rules. Another source I spoke to said more but something will have to be announced soon to cover the ULU payment and whats happening with that.

[jsman] 15/7/2009 17:54

I find this talk of imminent news of a deal very premature and very unlikely especially given the extremely useful post - 2858 by Nobbygnome on his chat with RA.
Unless RA 'rightly' decided not to inform Nobbygnome of an agreed but yet to be finalized deal, because it would not be professional to do so, and the deal took on wings within the last week, these hopes of an RNS about something big and positive seem very premature.
I have 3k invested in this @5p and I am hopeful for positive news. However, it's unlikely to be based around Abasol (except for an expectation of future intrinsic value, if you follow the gist between Nobbygnome and RA.

[topinfo] 15/7/2009 07:35

Sorry to hear that mate. Maybe not 25p initially but if this deal is as good as its suppose to be maybe some time down the line you will get it back.

[topinfo] 15/7/2009 01:25

Backinblack. Great post, my sentiments exactly. I have been led to believe a much better deal is on the cards and thus reason for ending talks with ULU. I hope this turns out to be true and we end up getting value from the deal. £12.5K quite alot, what price do you need to get that back if you dont mind me asking?

[topinfo] 15/7/2009 00:11

Backinblack. I have offered an olive branch many times before but he declines to kiss and make up and continues to slate me so ce la vie. Anyway back to YRK yep I am expecting something this week as deadline for paying back ULU etc is 22nd July I think so things should be sorted one way or another. This can only have 2 outcomes and one of course is we lose the lot and YRK vanishes into thin air, alternatively they come back to mkt fully financed up/merged/RTO etc, in which case we will get a massive rise in the share price ..Its 50/50 now I feel as things seem to be dragging out and I am starting to question whether my source at YRK has been telling me the Gods honest truth or not...we shall see soon.!!

[risk1] 13/7/2009 20:59

gl topinfo

[topinfo] 13/7/2009 20:58

Approaching more than 12 posts today already and its only 9pm.!!

[topinfo] 13/7/2009 20:58

Come on Guys lets get this discussion board back in focus just like the good old days, maybe RA will read it and hurry the deal through especially for us.!!

[topinfo] 13/7/2009 20:57

Of course when any share is suspended you have to write it off to a degree under these type of circumstances but I know that they rebuffed the ULU bid as something much better was on the table and with the ULU bid being worth around 6p per share if these come back expect a rapid rise well above that level.!!!

[risk1] 13/7/2009 20:53

nor does anyone have any reason to deramp

money down the drain

[prambigear] 13/7/2009 20:53

sorry wrong thread

[topinfo] 13/7/2009 20:52

The stock is suspended so I or anyone else have no reason to try ramp it up as it will either come back to mkt and then soar or wont come back??

[risk1] 13/7/2009 20:52

we expected news any day re abasol approval that was over 2 and a half
years ago IT NEVER CAME!

Like I said write off your cash

[topinfo] 13/7/2009 20:51

All will come good here.

[topinfo] 13/7/2009 20:48

Do you Guys know something that I dont??...Im expecting news any day now and positive news and relisting at that.!!!

[risk1] 13/7/2009 20:48

yes I hated the guy posting here 2 years ago

but sometimes you have to applaud a shrewd investor well done bioshark

[kiki14p] 13/7/2009 20:46

Hate to agree but bioshark was right, should have listened.

[risk1] 13/7/2009 20:45

write them off you have lost your money

anything slightly better is a bonus

bioshark you were correct all along well done

nobby you were wrong

gl