Berkeley Scott Share Discussion Threads

[latifs100] 21/12/2001 14:08

another vocalis

[evansmi] 21/12/2001 14:05

Don't know - At this low price, even large volumes of shares aren't a huge amount in cash. 250,000 at 8p is only £20,000 cash.

Buys and sells remain a close tie... I won't warm up my printer just yet..

...and up she comes.....

[lovegod] 21/12/2001 14:04

loads of buys going in at 8.5. yeeehah!

[lovegod] 21/12/2001 14:04

just hit 9.

[sirrah] 21/12/2001 14:00

happy christmas cyber

[aghumra] 21/12/2001 13:55

No, not related...

Do you reckon a big player has dumped?

[evansmi] 21/12/2001 13:50

aghumra - if the price doesn't go above 8.5 within 2 weeks, I will print the message out, and eat it, as punishment to myself for holding.

Funny those big buys coming in now though

BTW - Are you related to Mad Trader/Jimted ?

[gardenofeden] 21/12/2001 13:40

There are a lot of big buys, surely this is a sign that things are not all bad?

[aghumra] 21/12/2001 13:37

evansmi - eat your words!!!

[pictureframe] 21/12/2001 13:22

Glug Glug Glug abandon ship , shes going down

[cyber investor] 21/12/2001 13:22

mali7 - 19 Nov'01 - 08:30

As I have always mentioned, BGP, will be the stock of the year mates, so get in before it is too late. Have you seen the large buy of 250,000 shares (M), that is good sign isn't it? Anyway watch this jump end of this week maybe earlyeir, but still target 40p so hold on your seatbelts.

[baa] 21/12/2001 13:05

Make that equity £8m , debt £120m+ . Even a fractional equity :debt swap( if possible) will take place far below a price of 8p and the current equity holders will be greatly diluted . Not surprised to see the sellers at work - just surprised we're still at 8p!

[baa] 21/12/2001 11:53

Read the last few paras;

- either they sell for less than the debt ; or

- the recapitalise . Now with £10m of equity and £120m+ of debt surely any current equity holder will be diluted out of sight ( cRedstone , etc).No thanks.

Doesn't sound appealing to me.

[godin] 21/12/2001 11:52

Seem to me that they have been given till end of jan to find a buyer or thats it Kaput!

[najib] 21/12/2001 11:43

i think that bgp will get new life after all the complex issues surronding its reorganisation.otherwise banks would pull the plug long before.

[tizo] 21/12/2001 11:34

Bioglan Pharma PLC
21 December 2001


For Immediate Release 21 December 2001



Agreement between Bioglan, Skyepharma, Quintiles and Banks

Bioglan Pharma PLC ('Bioglan' or 'the Company')



Bioglan has today agreed to novate its rights and obligations under its
existing licence contract (the 'Solaraze Contract') with Jagotec, a subsidiary
of SkyePharma Plc ('SkyePharma'), relating to the right to market and sell the
Solaraze product ('Solaraze') in the US, Canada and Mexico to a wholly-owned
subsidiary of Quintiles Transnational Corp. ('Quintiles'), a global
pharmaceutical services company with a market capitalisation of approximately
$2bn, for a consideration of £15m effective immediately. The Solaraze product
is a treatment for actinic keratoses and pre-cancerous sun-induced skin
damage, which has been launched by Bioglan in the UK and Germany as part of
the ongoing European roll out.



On 14 December 2001 Bioglan announced that its banks had agreed to extend the
standstill arrangements on its outstanding debt to 21 December 2001. In
conjunction with the novation of these rights under the Solaraze Contract,
Bioglan's banking syndicate (the 'Banks') has today agreed to extend the
existing standstill arrangements through to 31 January 2002. The proceeds from
Quintiles are expected to enable Bioglan to meet its projected borrowing
requirements in December 2001 and January 2002. Although there can be no
assurances that the existing financing will be extended beyond 31 January
2002, Bioglan remains in active discussion with its Banks and certain third
parties with a view to achieving a longer-term solution for the Company.



In addition to the novation described above, certain amendments have been made
to the Solaraze Contract. These amendments include Bioglan agreeing to
increase certain payments under the Solaraze Contract with a $12.5m payment
due immediately ($10m due by 31 December 2001 previously), which will be paid
by Bioglan from the £15m proceeds referred to above. Consequently Skyepharma
and Bioglan have agreed that SkyePharma no longer considers that Bioglan is in
breach of its obligations under the Solaraze Contract.



The novation of the above rights under the Solaraze Contract and related
amendments would have constituted a class one transaction under the listing
rules of the UKLA (the 'Listing Rules') and would ordinarily have required
Shareholder approval. The Company's current situation, including, in
particular, its cash flow position and the urgent need for additional
financing did not, however, allow time to seek such Shareholder approval.
Accordingly the UKLA has agreed that the Company be permitted to dispense with
the requirement to obtain Shareholder approval, and related requirements.



Although the Solaraze Contract was expected by the Company to generate
substantial revenues in the future, in view of the current situation, the
Directors believe that the arrangements described in this announcement are in
the best interests of the Company and its Shareholders as a whole. In
particular, if the novation and related amendments had not been effected
immediately, the Company would have been unable to meet its financial
commitments as they fell due and consequently would have been unable to
continue to trade, resulting in the appointment of receivers/liquidators/
administrators.



As part of the novation arrangement Quintiles will be responsible for the
ongoing investment required to market the Solaraze product in the US, Canada
and Mexico. Bioglan expects to undertake certain services for Quintiles in
relation to Solaraze, including marketing, distribution, promotion and
manufacturing, for which Bioglan will receive a revenue stream. A third party
manufacturer carries out manufacturing for Solaraze in the US under contract.



In the absence of a satisfactory conclusion to the strategic discussions with
potential purchasers or recapitalisation partners, the Directors of the
Company do not believe that the Group has sufficient working capital for its
present requirements (that is for at least the next 12 months). However with
the completion today of the novation described above, the Directors believe
that Bioglan will have sufficient working capital to continue trading to the
Company's financial year end (31 January 2002).



In the meantime the Company remains in discussions with its Banks and certain
third parties with a view to achieving a long-term solution for the Company
and improving the financial and trading prospects of the Company. These
discussions include negotiations with parties that have expressed an interest
in the acquisition of the Company, although it is not clear whether these
preliminary discussions will lead to an offer being made for the Company. On
the basis of these preliminary discussions, the Directors believe that it is
unlikely that the total proceeds (which may or may not be offered by any of
the parties) would exceed the current level of debt of the Company.



In addition to these discussions, the Company is also in talks with its Banks
and a third party about a possible recapitalisation. The Directors believe
there is a reasonable prospect of a satisfactory conclusion to the discussions
on a recapitalisation, although there can be no assurances that this will be
the case.



For further information, please contact:


Buchanan Communications Switchboard : 020 7466 5000
Lisa Baderoon : (m) 07721 413496

[saturn5] 21/12/2001 11:34

We should see the BUYS come in now

[bloakey] 21/12/2001 11:33

godin,

The news on the RNS is not particularily good, now we have to wait for the sale of the company to raise the price as Solaraze has been a bit of a damp squib.

The above are my opinions etc.

[godin] 21/12/2001 10:51

Good news= up 15% bad news= down 20% who knows which one it will be?

[sirrah] 21/12/2001 10:31

telephoned bgp this morning
bgp are making an announcement
to the stock exchange
this morning
this morning
this morning
this morning
this morning
this morning
this morning

[dbooth1] 21/12/2001 10:27

Got my beer money safely stashed away and am still holding this one.
Stop loss was 11p but decided to stay untill the end on this one!

[sholcroft] 21/12/2001 10:15

Yet again I am surprised at people selling today. Whats the point in buying if your going to sell just before the deadline for the next annoucenment. Are people so willing to take a loss to raise a little more beer money for Xmas....

[wetdream] 21/12/2001 09:43

Anyone find it strange that Deutsche Asset Management still hold about 5.7 million shares?!

[semorgan] 21/12/2001 09:28

If this Company/Stock was dead, why are people still buying

Would you invest £2000 (known) or £4794 (Pos) at 08:XX this Morning
is so


08:39:33 11.398p 11p 11.5p 10,000 £1,140 BUY O
08:37:15 11.5p 11p 11.5p 17,391 £2,000 BUY O
08:24:13 11.398p 11p 11.5p 3,000 £342 BUY O
08:21:14 11p 50,000 £5,500 DLY O
08:18:15 11.398p 11p 11.5p 3,862 £440 BUY O
08:18:02 11.098p 43,197 £4,794 DLY O
08:14:24 11.25p 25,000 £2,812 DLY O

Watch this space, I reckon it will go down to 10 or even 9p before
any FINAL decision is made, thats because SMALL £200 ish investors
need a new shirt