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THC Topnotch

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0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Topnotch LSE:THC London Ordinary Share GB0001255610 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.00 -
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
- 0 GBX

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Posted at 06/12/2006 22:32 by tonystringy
The Times December 06, 2006


Cannabis chocolate 'made to ease MS'
Russell Jenkins

'22,000 bars were sent to sufferers'

'Pots, pans and plants at home'




Multiple sclerosis sufferers around the world swore by the chocolate bars made at Mark and Lezley Gibson's gift shop in the Lake District.
The couple sent out about 22,000 of their bars and made no secret on their website of the special ingredient that made them so popular.



But that ingredient was to lead Mr and Mrs Gibson into the dock at Carlisle Crown Court yesterday, where both are accused of conspiring to supply cannabis.

Along with a family friend, Marcus Davies, 36, they set up the campaign group Therapeutic Help from Cannabis for Multiple Sclerosis and on their website, www.thc4ms.org, offered their "Canna-Biz" chocolate bars, the court was told.

Mrs Gibson, who suffers from MS, her 42-year-old husband and Mr Davies made no secret of their campaign to legalise cannabis for therapeutic pain relief.

They made no charge but there was a request that each "buyer" establish that they were an MS sufferer and that they make a donation to meet production costs.

Over a period throughout 2004 and up to February last year about 22,000 of the 150g (5oz) bars were despatched, each one of them laced with 3.5g of cannabis. A mailing list with 460 addresses was later found by police.

Mr Gibson and his wife, from Alston, Cumbria, along with Mr Davies, from St Ives, Cambridgeshire, who is said to have operated a post office box address for the cottage industry, deny the conspiracy charges against them.

Jeremy Grout-Smith, for the prosecution, told the jury that while the trio might be well intentioned, they had no defence against the charges which carry a maximum sentence of 14 years' imprisonment.

"To supply cannabis, even if you believe it is doing some good, is not a defence," he said.

The court was told that police became involved in January when the duty manager at the Royal Mail sorting office in Carlisle contacted them about a package which had spilled open during sorting. Officers seized 33 Jiffy bags containing the Canna-Biz product. Each of the packets carried a PO box address in Huntingdon, Cambridgeshire, as the return address. The wrappers also carried the website address which was later found to be run by the three defendants.

Mr Grout-Smith said that they were not conventional drug dealers but believed their actions would help to alleviate the pain of a debilitating illness. MS is a progressive disease which attacks the central nervous system.

Officers raided the Gibsons' home in February, discovering cannabis chocolate bars, labels, packages and a mailing list.

Mr Grout-Smith said: "They also found some machinery for the manufacture of the bars, pots, pans, and a grinder, all to be used in what was really a cottage industry to make chocolate bars impregnated with cannabis.

"When analysed they were found to contain 3.5g of cannabis each, ground up and distributed throughout the 150g bar."

Several months later officers pursued their investigations to Mr Davies's home where they found cannabis plants in two sheds. The householder insisted the cannabis was for his own use.

Details were found of three bank accounts, registered in the name of Mr Davies's girlfriend, in which about £40,000 had been deposited during a two-year period.

At least two of the accounts were thought to be used for money related to the cannabis chocolate enterprise.

"So this seems to be distribution on quite a large scale and, to some extent at least, the defendants may have benefited financially, although the Crown does not claim this was their main motivation."

During a police interview, Mr Gibson admitted sending 22,000 bars to addresses around the world. But first they had sought proof that the recipients were MS sufferers.

The jury was told that Mrs Gibson suffers from MS.

A juror who made it known to the judge that she had a relative in the family with MS was told this was no bar to deciding guilt or innocence in the case.

The trial, expected to last seven days, continues.

The facts, man

Cannabis is derived from Cannabis sativa or Cannabis indica, a plant related to nettles and hops that is thought to have originated in India

The first written account of cannabis use can be found in Chinese records dating from 2800BC.

Herbal (grass, weed, skunk) is the dried flower buds of the plant; resin (hash, soapbar, black) is the buds formed into a block and then heated and crumbled before use; oil is by far the strongest form and made by dissolving, filtering and evaporating the resin

The main psychoactive ingredient in cannabis is delta-9-tetrahydrocannabinol, or THC
Source: Times database
Posted at 14/1/2004 12:46 by andrew_george
Does anyone know if we will get any money back with this share ???
I heard that Topnotch had considerable funds at the time of administration...

If anyone has a track record of holding shares that go bust perhaps they can tell us what usually happens.

thanks.
Posted at 14/10/2003 13:35 by sore loser
From "Market Miscellany" section of the Sunday Telegraph (Business) November 2000:

"Having been as high as 201.5p earlier this year, shares in THC, the AIM-quoted leisure business, have crashed to a low of 82.5p. The company issued a statement on Friday noting the downward movement in the share price. It insists the fall has nothing to do with the trading outlook for the company but instead has been caused by an instiution selling shares acquired when it merged with another fund management group. Topnotch, a newcomer to the quoted leisure market, is trading in line with expectations. The company recently bought 5 clubs from rival Cannons for £1.7m. Half-year results due out in January are not expected to dissapoint having reported a £130,000 loss in its maiden results. The company is undervalued. BUY."

Funny old world......
Posted at 05/8/2003 15:38 by josephrobert
Price found support at 2.5pence.
Price is set to rise beyond the medium term resistance at 3.2pence.
Price is supported by RSI; RSI has formed a new, sharply rising and wide channel.
So keep holding.
Posted at 21/1/2003 10:39 by sreddy
yashbalggan,

Please browse my previous posts to get my detailed thoughts, but once the banking is sorted and there are some signs of recovery then the discount of share price to net tangible assets should decrease dramatically. The last announced NTA were 42p per share and after today's annoying little drop, the share price is only 5.25p, or 6p to buy.
Posted at 15/11/2002 07:38 by sreddy
Multibagger,

A bit of a spat between directors earlier, but 5p cash plus an announcement that 3 of their investments will float at the same time in December. Share price only 3p to buy (can buy under the offer).

Of course there is always uncertainty when it comes to flotations, but if these are delayed it will be due to dire market conditions or unacceptable pricing. The directors would probably try again. They appear to have cash to give some flexibility.

The share price has been as high as 20p. I think results and more details of the proposed flotations are expected shortly.

I have 750,000 of them.

Out of favour and some sellers has given this buying opportunity, and hopefully the more information that comes out the more the market will be confident on the ability to realise the value from its investments. The potential value of the investments and cash is much more than the current market cap. See recent press coverage (eg Daily Mail 12.11.02 amongst others).

A good risk/reward situation, IMHO.
Posted at 01/11/2002 16:07 by sreddy
London Trader (or AS),

Hi. I don't agree that we are looking at only a double. Given the special circumstances of this share (the warning, the illiquidity, overall market conditions) the graph is much less relevant. If the banking is sorted, and because the asset write-downs have already been done and because there is some optimism that trading can be turned (see results), then the discount of 85% from NTA to share price would be far too high. If this were a profitable company then there is no reason why it should not trade above NTA, ie above 45p!

This may take some time, of course, but in the meantime a lower discount would seem appropriate. What that should be is subjective, but 85% is too high. If, say, it was a still large 50% discount, then a share price of 22.5p would result. This share has traded in excess of 50p this year and for most of the year was above 20p.

Remember also that there is a strategic review going on. This could lead to disposals and a re-focussing of the group, speeding up it's return to profitability and reducing bank debt. It could also lead to an offer for the company from a competitor or even via an MBO. In these scenarios the offer price would probably need to be much nearer the NTA than currently for an offer to be successful.

As you know I am heavily into this share, but hopefully you see the logic of my analysis. We all know that logic does not always count in this market, but I think the share offers above average chance of significant capital growth. If held for 2 years any CGT would also be chargeable at only 10%. There are risks involved, but if you don't take risks you rarely get above average returns.
Posted at 01/11/2002 14:23 by sreddy
London Trader,

I'm up over 200% in a week and we haven't even had the bank announcement yet. If it does come then the discount of 85% between share price (6.75p) and NTA (c.45p) is just not justified at all.

Even if you then keep a discount of 55% because of continuing losses (this discount still would be high in my opinion if the bank is sorted), then you get a share price of 20p per share. I'm not promising this will happen, but I'm not in this share only for a couple more pence.
Posted at 30/10/2002 14:33 by sreddy
Further analysis of the results:

If you look at the results for the year ended 04/2002 you will see that the
loss before exceptionals but after interest was £0.5m, after a change in accounting policy deferred £0.5m of annual subscription income to later months. The statement also gives reasons for some slow branch starts due to disruption and states that September and October show marked improvement. Although they say they are still making losses, the situation appears mendable, particularly if management aren't side-tracked by too many new openings. This appears to be recognised. Also the disposal of loss-makers should improve profitability and release management time.

All-in-all, some reasonable grounds for optimism. If this trend of improvement continues, then the discount of 80% between NTA and share price will be well over the top. Assuming the bank negotiations are satisfactory and reducing the discount from NTA to, say, 40% gives a share price of 27p. In the longer term, if profitability returns then there is no reason why the shares should not trade at a premium to NTA, ie. in excess of 45p.
Posted at 29/10/2002 09:41 by sreddy
That is odd. I can't think of the reason for that delay.

For the other poster - If you are prepared to take the risk on successful bank negotiations (given the directors' comments), then this company is FUNDAMENTALLY undervalued and I am looking for a share price many multiples of my average 2p buying price. This expectation is backed up by the massive NTA per share compared to share price.

We should hear about the bank negotiations soon and the results are expected tomorrow, when we will get confirmation of the current net tangible assets (NTA) per share.
Topnotch share price data is direct from the London Stock Exchange

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