Berkeley Scott Share Discussion Threads

[aghumra] 22/12/2001 00:14

4 MM sells at 12:07, price dropped, they must know something!

[sirrah] 22/12/2001 00:11

bgp will still get revenue from sales of solaraze in US and mexico and retains the rights in Europe and Scandanavia
press response to negotiator's expalanation of deal has been good

[mali7] 21/12/2001 23:27

Sorry, couldn't get in touch with BGP, they seem to be in meetings all the time.

[mali7] 21/12/2001 23:26

Sorry, couldn't get in touch with BGP, they seem to be in meetings all the time.

[saturn5] 21/12/2001 22:06

I think 680,693 was a buy since a sell would have been closer to 9p

[agnes] 21/12/2001 21:23

This seems like a high risk play. If they get a recapitalisation away then the company survives but I guess the providers of new money will want to get in at as low a price as possible. The danger is that the company says it believes even in the event of a takeover, the shares would have a value of 0p, because the sale proceeds would just go to repay the banks.

[sirrah] 21/12/2001 20:38

can't shed too much light
michael walters has
buys 3,726,915; buys 1,257,526; total 5,891,410; balance unknown
sharecast have sympathetic news on bgp
lets hope fleet street, alias canary wharf do as well
but
doubt it
but
christmas could work well to distance press down talk from
serious trading 4/5 January 2002
happy new one every one
2002 2 u

[sirrah] 21/12/2001 20:27

checking mali7
hey
what about that news you were going to post last monday you ....
signed the elephant

[mali7] 21/12/2001 19:49

theelph I have got more then 100,000 shares and I am currently in a loss but have also been in a nice profit last week, but didn't sell and will not sell now as well. Most of the bad news in the price and with an extension until end of January means that there is possibility for some good news which should hopefully drag it above 20p. But we have to see what the week end press comments are now any way good luck with your shares. I missed to buy more today at the bargain of 8.5p!!!

[mali7] 21/12/2001 19:44

680,693 shares at 9.5p, was that a buy or a sell? Does anybody know?

[lovegod] 21/12/2001 19:07

took the profits on anite, ploughed the lot into bioglan at 8.5. bid now 9 so have turned loss into small profit and will hangon in there . i feel the worst is now out in the open. it's now fingers crossed for press comment,if moni can come back from 12p with billions of debt, then this baby deserves a chance. merry christmas to all.

[theelph] 21/12/2001 17:31

Twice as many buys as sells, price falls 17.4% !???.
BGP holders, what do you plan to do next ?
Disclosure - holder of 9000 shares.

[mad trader] 21/12/2001 17:07

it will hit 2p

[ivor whopper] 21/12/2001 17:01

keep ripping em off mad trader/jimted/venturer1 lol

[mad trader] 21/12/2001 16:47

what was it i said if your still holding tonight your a bloodey fool this can only go lower.

[sirrah] 21/12/2001 16:00

the higher this finishes tonight to diminish today's loss
the better
as it will reduce the cue to the press to rubbish management's present action
press coverage is paramount to the rumour zone of influence
that we have entered into
this is truly rumour's eve
:o( :o)

[semorgan] 21/12/2001 15:49

Yep merry Christmas sirrah and co

Would have been nice to have seen a rise this side of Chrimbo
but Life's Life.

Some you win, some you loose

Have a GREAT Chrimbo to all those on this BB over the past 2 months
or so

;o)

[sirrah] 21/12/2001 15:39

good on you semorgan
agree with you on that one
stay in
i'm in until 20
six whole weeks of speculation without any fact
and this buying sprey if it touches 5 million trades will be 5th biggest trading day in past year and 4th highest in £turnover since it went sub 20p
happy christmas everyone
and a fantastic january

[evansmi] 21/12/2001 14:56

aghumra - bid price just hit 8.5.
please can I be excused from eating my words

[stampcoverman] 21/12/2001 14:31

Announcement On Bioglan Website:-

Press Releases

21st December 2001

Agreement between Bioglan, Skyepharma, Quintiles and Banks

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

Bioglan is a trademark of the Bioglan Group.



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[harry kaplan] 21/12/2001 14:29

2 MMs on bid now - looking better. It could be that MM's have used the announcement to panic a few sellers. If we can possibly close to-day 9p or better it means we will be back on price support line.

[dbooth1] 21/12/2001 14:10

I hope we've just seen the worst of it!