ARK Therapeutics Share Discussion Threads

[shenks] 29/8/2013 10:15

Akt this must be the bagga of the season :)

[shenks] 29/8/2013 10:15

INTERIM MANAGEMENT REPORT

Chairman's Review

As detailed in the Company's financial results for the year ended 31 December 2012 published on 30 April 2013 and in the first Interim Management Statement for 2013 issued on 17 May 2013, the key events for the first six months of the reporting year have been as follows:

· On 30 January 2013 the Company announced that having failed to gain sufficient support for an institutional fundraising in late 2012/early 2013 it had appointed WG Partners to assist the Company in reviewing and evaluating a number of strategic options open to the Company to maximise value for Shareholders. These options included a formal sale process, which was initiated on 30 January 2013.

· On 28 February 2013 the Company announced that it had not received any indicative offers pursuant to the formal sale process. In parallel, the Board had attempted at various points to obtain finance from clients, direct competitors, banks and via the disposal of non-core product assets. However, all such steps proved unsuccessful.

· On 7 March 2013 Wölbern Private Equity ("WPE") made a formal offer for the acquisition of the operating subsidiaries of the Company - Ark Therapeutics Limited, Ark Therapeutics Oy and Lymphatix Oy (the "Subsidiaries") (the "Disposal"). This offer was expressly conditional on the UKLA (UK Listing Authority) agreeing to apply a waiver under Listing Rule 10.8 to the Disposal. WPE therefore confirmed to the Board on 10 March 2013 that the transaction had to be completed on or before 15 March 2013 otherwise its offer would lapse.

· On 15 March 2013 the Company made a comprehensive and detailed announcement that it had disposed of the Subsidiaries having been granted a Listing Rule 10.8 waiver. The Company received £1.335m in consideration and recognised a profit of £1.146m.

Post-period end on 9 July 2013 the Company announced that it had amicably negotiated and settled a potential dispute with Crawford Healthcare. As a result, the contract with Crawford Healthcare relating to the sale of the Company's Woundcare Business to Crawford Healthcare in 2011 was terminated and in return for an immediate payment of £300,000, Ark agreed to release Crawford Healthcare from any future obligations under the contract.

Since the date of the Disposal the Board has ensured that the Company has maintained its London Stock Exchange listing and met its financial, fiduciary and reporting obligations.

[joeblogg2] 29/8/2013 09:38

On the up and possible deal being done. Another 1p and I might get my money back here.

[duncandisorderly] 07/8/2013 15:50

Not much happening here I see.Thankfully I didn't get back on board.

[duncandisorderly] 23/7/2013 09:15

Dalton,I have just spoken to a friend who still holds a small amount of these who says that unfortunately the tax write off was transfered to the companies that the Ip was sold to so Iho we dont even benefit from that.The directors couldn't make this any worse if they tried.

[duncandisorderly] 05/7/2013 15:43

What a bunch of incompetent pr#cks .

[duncandisorderly] 03/7/2013 06:33

There seems to be an upward shift .I am still sitting on the sidelines at the moment to see if any big buys come along .

[dwalton] 02/7/2013 15:31

Hmm. Purchased 122k+ at 0.00487p @ 12.50 today but not shown up on the trades?? now 15.30hrs??

[duncandisorderly] 27/6/2013 13:10

Thanks Dwalton.I must admit,I am thinking of getting back on board with a few of these.

[dwalton] 27/6/2013 11:13

Duncan, don't like posting ARK comments on RMP. I think I might just be wrong about ARK (wouldn't be the first time I'm wrong, and certainly won't be the last!). Over a 2 month period I have been watching closely and, this share is definately being accumulated. Though there is very little volume, the share price is being moved up to stimulate sell activity, rather than down to stimulate buying.

Even in the face of a daily overweight of sells, there is only a salutory and temporary drop in price, soon reversed without any corresponding buys. Then we uptick again.

No large holders have exited.......

MM's would not be accumulating in anticipation of the dissolution profits, the market (demand) would force this upwards movement as time progresses, and at the moment....... it isn't.

The £30m or so losses accumulated within ARK do make it an attractive reversal proposition, representing some £6m or so of corporation tax savings. It is unlikely they have been used within ARK as there have been no profits to consume these losses for many years.

Potentially then, with the cash, outstanding royalty payment and corporation tax losses to be used, it could represent a value of about £7.75m in a reversal. If you could acquire for maybe half that (£3.5+m - 1.6p/share)makes it quite attractive?

The logic is there, now all we can do is just live in hope.

[duncandisorderly] 29/4/2013 22:45

Just got in Joe .I suppose 2014 is a long way off .

[joeblogg2] 29/4/2013 11:34

dunc. no idea possibly they think there is no point holding this and use their cash elsewhere as nothing will happen until cash received?

[duncandisorderly] 29/4/2013 07:58

Joe,I know you are on Synety now but I don't like posting about other stocks on different sites.
I have just noticed that some of the big boys are starting to leave here.What's the deal with that?

[dwalton] 26/4/2013 11:51

With £1m in the bank, £0.97m royalty payments triggered early 2014 and anticipated running and "solvent liquidation" costs of £0.3m, the funds available to shareholders would be £1.67m or, approx 0.8p per share. This is a 100% return on an investment at today's share price Though I accept that there is still a small risk that this may not be realised, a 100% return on a modest investment for 9 months or so seems a good bet.

Not one to bet the mortgage on, but a little "flutter money" seems justified.

[joeblogg2] 16/4/2013 08:36

duncan. hope you are well and no you have not upset me. I might even take a lookt into SNTY, looking interesting!!

[duncandisorderly] 16/4/2013 08:27

Joe,sorry if I've upset you some how.I managed to find that company you were on about,EVO.
It was good call when you said it and now they have dropped I've bought a few myself.
I wish you all the luck with this one as you will need it but I've had my say on it.

[duncandisorderly] 11/4/2013 13:04

With cash and money owing to ARK plc this company has a value of .09 to 1 easily.Regardless of what the shell is valued at but I suppose with Ross & co's inability to their job when they were employed peeps aren't going to invest now that they aren't employed as they managed to sort out themselves with a very nice redundancy package, plus all the staff that have been paid for years on the back of shareholders money.
They are laughing all the way.

[duncandisorderly] 04/4/2013 11:16

Joe,what was that other share you where on about.Sorry mate I can't remember?

[duncandisorderly] 26/3/2013 12:45

You said it Joe,I'm sure they'll sleep very well with the mattresses stuffed with money,lol.
How can a company that was worth hundreds of million be sold for a few quid and without shareholder approval amazes me beyond words.
Now the one's who are left holding this piece of cr*p are wondering what will happen next???
Let's face it the bod haven't given two pieces of sh*t how the shareholders have felt thus far so why would they be bothered now they have had their redundancy nicely tucked away.The whole thing has been a disgrace and in my opinion I can't see it getting any better.
Good luck mate,with this bod you'll need it....
All imo.

[joeblogg2] 25/3/2013 17:02

Good luck duncan. in SNTY and others you hold as this is a waste of time. I hope the BOD both present and past can sleep easy at night as they have bled the company dry!!

[duncandisorderly] 25/3/2013 16:39

I'm afraid I had to sell out Joe as I can't see this share going much further under Ross.Good luck Joe,I wish you all the best,It'll rise since I've sold,you wait and see,lol.