Aura Renewable Acquisiti... Share Discussion Threads

[powwow] 28/3/2008 09:24

steady she goes.

[n_w_b] 28/3/2008 07:37

Ardana bounces back on bid talk





« Previous « PreviousNext » Next »
View GalleryBy HAMISH RUTHERFORD
ARDANA shares bounced back yesterday after the Edinburgh-based biotech firm said raising the "for sale" sign had prompted a high level of interest.


The firm, which focuses on treatments related to human reproductive health, said last month it was seeking a sale or merger with a company using the cash to develop its portfolio.

The announcement came at a time when investor appetite for risky, early-stage biotech investments was at its lowest in decades, prompting shares to fall.

But yesterday the group, led by chief executive Huw Jones, said interest had already led to "a number" of approaches which could lead to a bid. "Given the level of interest to date, the board sees no reason for the significant fall in share price," Ardana told investors.

Shares immediately responded, closing up 9p, almost doubling their value, at 18.5p.

Finance director Graham Lee said "a significant number" of parties had expressed an interest in buying the whole company, while others had approached Ardana about acquiring certain parts of the portfolio.

While he conceded that sentiment in the sector was low, making raising cash extremely difficult, a shortage of new products being developed made the market for deals buoyant in comparison.

"I think there's still quite a lot of appetite to do deals, because all of the larger companies are needing products," he added.

Potential suitors ranged from large pharmaceutical companies through to small cash-rich biotechs, Lee said.

A major licensing deal for part of the company's portfolio could see it maintained as a going concern, but Lee suggested this was unlikely.

"We obviously consider that the best option is to merge or be sold. That's the process we're going through now, but we have had quite a lot of interest for our products ... and if somebody comes in with a really slam dunk opportunity then obviously we have to consider it."

[powwow] 27/3/2008 23:49

pss off sarah

[powwow] 27/3/2008 17:37

two nice, buys or sells.?

16:31:02 27-Mar-2008 19.00 153,724 29,207.56 Ordinary Trade - Delayed
16:30:49 27-Mar-2008 19.00 153,724 29,207.56 Ordinary Trade - Delayed

[powwow] 27/3/2008 16:17

well they are happy to take 100,000 shares from you but are now happy to allow you to buy 150,000 at a higher price.

[powwow] 27/3/2008 16:14

mercury £1.13 those were the days. Still good time to top up with a view of more good news to come I'd say.

[powwow] 27/3/2008 16:13

where are all the trades for this, the mms have held them all back for the whole day.

[mercury123] 27/3/2008 16:13

I've just bought 10000 at 17p. Looking back I sold my last 5000 of these at 1.13 in April last year so quite pleased to be in at what might be a lucrative swansong. Good luck to all - especially those who have been more patient holders than me and therefore probably more deserving of any windfall.

[chesty1] 27/3/2008 16:09

Thats more like it....

[vwrich] 27/3/2008 15:50

the last time i saw a spread that wide , was when i was with my ex mrs.

[powwow] 27/3/2008 15:39

you could always try and send it to your broker.

[powwow] 27/3/2008 15:38

16p was going to be mine, but I settled for a smaller chunk at 18p.

[a44] 27/3/2008 15:36

Not prepared/interested risking small batches of 7.5K buys.

I suspect by the close of day a large trade will go through, sadly not mine as I was prepared to jump in at 16p

[powwow] 27/3/2008 15:32

a44, yes that's correct.. that's ok if you want 7.5k now but not so good if you want more. 7.5k chunks could be possible.

how do you read that?

[a44] 27/3/2008 15:24

Confirm that now I can only get 7.5K regardless if I do a T+3 or T+20, yet earlier offered 100K at 18.95p

[powwow] 27/3/2008 15:11

but generally they'll do it in their favour, so if they limit the buys, and drop the price they are simply trying to shake out some holders on the way down, while also stopping anyone buying stock at a cheaper price because they want it.. Thats how I read it.

[dr biotech] 27/3/2008 15:10

Of course this lot have promised a deal for some time now, but nothing is forthcoming. Much like the rest of the sector unfortuantely

[powwow] 27/3/2008 15:09

ok,ya yep they can, lucky sods

[ok,yah] 27/3/2008 15:04

market makers can manipulate buy and sell temporarily of course to suit their own ends

[powwow] 27/3/2008 15:02

desperate for stock, allowing 75000 shares to sell but can only buy 7,500

[powwow] 27/3/2008 14:34

funny ole games now you can only buy 7.5k shares but sell plenty again.

[powwow] 27/3/2008 14:08

online limits for buy and sell are equal at the mo.