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LSIC Lifeline Sci

308.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lifeline Sci LSE:LSIC London Ordinary Share COM SHS USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 308.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 308.50 GBX

Lifeline Sci (LSIC) Latest News

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Lifeline Sci (LSIC) Discussions and Chat

Lifeline Sci Forums and Chat

Date Time Title Posts
08/12/201619:05LIFELINE SCIENTIFIC184

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Lifeline Sci (LSIC) Top Chat Posts

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Posted at 08/12/2016 18:08 by glasshalfull
Pleased with that, especially on share weakness resulting from nervous sellers on the merger announcement at the beginning of September, which forced the share price down to c.£2.70 at one point. Great opportunity to top up.

Only minor irritant is that we are a week late to close in term of £ v $ movement. It was bouncing around 1.20 recently.

Also excellent news that accounts are to be credited within 5 working days. I've a fair slug of these so lovely to be repatriated with monies this side of Christmas.

Well done WJ and others...I was relatively late to the share (c.250p) but delighted to learn a number of holders did very well out of this.

:-)

Kind regards,
GHF
Posted at 08/12/2016 10:15 by sailing john
Completion sometime later today (USA time I assume so probably after the close)
AIM cancellation from 07.00 tomorrow
So we should get AIM canc notice tomorrow and hopefully notification of final price
Xrate currently 1.2686 equivalent to just under 322p so I'm expecting around 320p
I don't expect it to hit my account for a couple of weeks
SJ

Edit WJ - Didn't see your response before I posted but looks like we are saying exactly the same thing
Posted at 08/12/2016 10:10 by wjccghcc
No. Closing of the merger is tomorrow so today is the last day you can trade your shares. Cash usually follows a couple of weeks after closing so given Christmas, I'd guess by the end of December.

FX rate will be set by what's published in the FT tomorrow morning. Current spot FX is $1.269 which gives a price of 322p. So if you don't want to wait for the cash, then you can sell today and accept 17p less.
Posted at 24/11/2016 17:24 by toyin
trier1

They are not aloud to do that, LSIC will use the exchange rate printed in the FT on the day it happens so your broker will not be involved with exchange rates.

All the best
Posted at 21/11/2016 11:03 by yamaha865
On current exchange rate £3.31 will be received on 8 December. Current price £3.08. What am I missing??
Posted at 08/11/2016 15:42 by glasshalfull
2vdm - Worthwhile reading from p27 of the offer document (shareholder circular) which provides detailed background on how the merger agreement came about.



With exception of a NASDAQ listing, it appears (to me) that they explored numerous options....especially when one considers that they contacted 123 potential buyers!!!

Extract:-

On September 21, 2015, LSI announced its intention to explore a full range of strategic and financial alternatives to enhance stockholder value and that it had retained Piper Jaffray, to assist in this process. One of the strategic alternatives considered as part of this process was a sale of LSI.

Following the strategic review announcement, Piper Jaffray received incoming interest as well as contacted a number of parties.

In total, 87 potential strategic buyers and 36 financial buyers were contacted as part of the process and non-disclosure agreements were agreed and signed with 18 parties. Purchaser, also being our national distributor in China, was initially not considered for taking part in the process as we believed that, given the September 2015 China FDA regulatory approval of LSI products, Purchaser should focus on preparations of the next phase of their commercial roll-out of the Company's product line in China as planned for 2016. We were also then in the later stages of negotiating certain orders with Purchaser to support this roll-out, which orders were finalized and announced on December 18, 2015.

Having expressed an interest in being included in the process, Purchaser signed a non-disclosure agreement on January 4, 2016.

A meeting was held in Chicago on January 22, 2016 with representatives of LSI, Purchaser and Piper Jaffray to present our business and future plans. Similar meetings were also held with several other interested parties during December 2015 and January 2016.

On January 19, 2016 we announced that revenues and profits for the year ended December 31, 2015 would be ahead of market expectations. All interested parties were provided with further details of such trading update.

Preliminary non-binding offers were received from five parties in early February 2016, including three potential cash offers and two potential (non-cash) stock offers. The non-binding cash offers included an initial cash offer by Purchaser of 256 pence per share.

Following a meeting of our board of directors on February 8, 2016, Piper Jaffray informed Purchaser and the other two cash bidders that their non-binding offers were not sufficient to be taken forward in the process and needed to be materially higher in order to proceed.

On February 18, 2016, Purchaser submitted a revised non-binding cash offer of 300 pence per share. The other two cash offer bidders informed Piper Jaffray that they were not willing to bid higher than their original non-binding offer. Purchaser was invited to continue into the next stage of the process and provided with final bid instructions on February 18, 2016. As part of the bid instructions Purchaser was requested to provide comments on a draft Merger Agreement that would be distributed subsequently and was requested to submit these comments along with a final bid on March 24, 2016.

On March 1, 2016, Piper Jaffray distributed a draft Merger Agreement to Purchaser. In addition to Purchaser, we continued discussions with another party (the “Other Party”) that had submitted a non-binding, non-cash stock offer in early February 2016. Purchaser and such Other Party were then provided with additional access to a data room as well as management to allow them to conduct full due diligence.

etc, etc.


Kind regards
GHF
Posted at 15/9/2016 14:22 by somerset lad
From pp. 36 and 37 of the Shareholder Circular:

"In addition to an increase in Mr. Kravitz’s base salary from $390,000 to $440,000 (which is Mr. Kravitz’s first salary increase in five years), such agreement provides for the potential to earn bonuses of up to $700,000 upon achievement of certain milestones and eligibility for annual “stretch”; bonuses. Further, upon consummation of the transactions contemplated by the Merger Agreement, Mr. Kravitz will receive a deal bonus of $1,433,000... Mr. Kravitz will also be receiving an equity incentive through the issuance of additional limited partnership interests in Holdco allowing him to participate in 7% or more of the profits and appreciation of Holdco."

I too would like to benefit from the growth I expect and will therefore be voting against the proposal to delist, as I believe it is in the better interests of shareholders for LSIC to remain independent and list on Nasdaq.
Posted at 02/9/2016 10:20 by interceptor2
I have now sold all of my holdings, first batch went at 300p at the open, then I had to wait for the price to come back and sold in two further transactions at 285p and 290p. So on average I was down just 6% from the offer price, I would rather reinvest the cash elsewhere with a the probability that I can make over 5% before December in another opportunity. Overall LSIC was a good investment from December last year, just a shame it didn't end a little better.
Posted at 02/9/2016 07:37 by eezymunny
Always makes me laugh when peeps so upset about a t/o price. I mean you tout the company about, and see who is willing to pay most. It is what it is. We'd all prefer a higher price but we're all greedy mugs for thinking we'd get one, no?

I note that LSIC products are already on the Genext website. FWIW!
Posted at 02/9/2016 07:23 by makw61
It's not a very liquid stock so it only takes a few disappointed PI's selling to move the price down. It will probably settle at some sort of a discount to the offer price, maybe nearer 285-290p. It's probably a bit small for merger arbitrageurs but in theory you could borrow money to buy the shares, hedge the FX risk and lock in a nice profit - assuming it all completes in December.
Alternatively, it's the market saying it's not going to happen. Have to see where the share price settles next few days I guess.
Lifeline Sci share price data is direct from the London Stock Exchange

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