Berkeley Scott Share Discussion Threads

[lovegod] 21/2/2002 11:37

So what happens now ?

[lovegod] 21/2/2002 11:37

So what happens now ?

[salpara111] 21/2/2002 10:08

Ok, you can PANIC now!

[salpara111] 21/2/2002 10:06

Sorry for all the holders but you will get nothing.
If a structured deal could not yield a big enough offer to even cover debt there is no way that the banks will see even 50 pence in the £ back now and that means nothing for the shareholders.
As someone who has studied finance at degree and masters degree level, I often wonder how many private investors out there realise just where they rank in a list of creditors under such circumstances and yes you are right it is somewhere below the factory cat.
This company was brought to my attention about 6 months ago by some doctor friends who had invested in it. Fortunately I am becoming a little better at sniffing out the really bad ones and managed to avoid investing but kept watching in order to learn more about companies in difficulty.
I guess the most valuable thing any shareholder can take away from this is the lessons learned in order to avoid a similar situation again.
Bye everyone.

[stampcoverman] 21/2/2002 09:08

I guess the banks could only see more debt ?

[dbooth1] 21/2/2002 07:27

So that's it then, GAME OVER.

[najib] 21/2/2002 00:40

BGP has been suspended.Where are you Mali7 to tell us buy buy and lose money.

[bensoni] 20/2/2002 22:09

Where does it go from here?
Looks like everyone walks away with nothing now!!

Just glad I only put a small amount in these to forget about and hope for the best. Suppose you win some, you lose some.

Now wondering when my winners are going to come along. Here's hoping with CER !!!

[stampcoverman] 20/2/2002 18:41

Unbelievable incompetence !!

[harry kaplan] 20/2/2002 17:27

RNS Announcement 17:16 -- Bank discussions failed -Company ceased trading & administrator to be appointed. Will the last person posting on this thread please turn the lights off.

[stampcoverman] 20/2/2002 17:09

As far as I can see Deutche Asset Management bought another 175000 shares yesterday.

Also, this 'sh*t or bust' situation was the only result for us small share holders. A take over bid would have left us with nothing. I can't now see the banks taking BGP into administration because they are better off helping BGP restructure back into profit than taking liquidised assets.

[salpara111] 20/2/2002 10:05

This has at least turned into a relatively interesting soap opera.
The writing does appear to be on the wall now.
Interesting situation in that they received an offer which would have allowed the banks to recover almost all their debt but as a result there would not have been a brass penny left over for shareholders, however the banks were not able to unilaterally accept that offer, only the board of BGP could have said yes. For once we have an interesting situation where the CEO of the board actually has interests aligned with that of general shareholders in that if the company had gone he would have been down the local employment office without a single penny to show for his single minded greed over the last 18 months....not a good result!
By refusing the offer he has effectively backed the banks into a corner.
If they liquidate then they will see little of their money back so they are almost forced to continue funding in the vague hope that they may get more back at some later stage.
Well, you cant say its not interesting!

[harry kaplan] 20/2/2002 09:09

Above 8:00 am announcement refers to an absence of potential offers, other talks having terminated. Difficult to see any crumb of comfort there! Ah well we all know now we should have sold the lot at 17p or even at £9! Pass the paracetemols. DYOR, IMHO, etc, etc.

[col_troll] 20/2/2002 08:17

The survival of the company must come first and personal wealth second. It is perhaps good that the company can turn away offers. This suggests that they are not so desperate to sell out and have something up the sleeve as it were.

[030453] 20/2/2002 08:12

Well, it's finally hit the fan. Should know soon if we're doule or quits!!!!!!!!!!!
20/02/2002 08:00:26 Bioglan Pharma clarifying funding after bid talks
cease; shares suspended

LONDON (AFX) - Bioglan Pharma PLC had its shares temporarily suspended
from 7.50 this morning as the group meets with its banks to discuss
ongoing funding requirements following the termination of potential bid
talks.
It looks like we will know soon if the gamble we have all taken has paid off or not.

Bioglan today confirmed that the indicative bid it received on Jan 31 was
from ICN Pharmaceuticals Inc. It said these discussions have now been
terminated.

In the absence of a potential offeror for the company, the board said it
is in active discussions with its banks in relation to its ongoing funding
requirements and is also investigating with its banks a restructuring of
the company's existing debt obligations.

There can be no assurance that these discussions will reach a satisfactory
conclusion, the board cautioned.

slm/

[col_troll] 20/2/2002 08:10

You all hear the news I take it. I assume that the bid from ICN was enough to pay off the debt but no more. The fact that the offer has been rejected surely must mean that there is a very good chance of debt restructure with the banks and also may mean that sales etc have been good since October (crucial for the banks further support).

[spikkymikky] 20/2/2002 01:31

It is about to go to 7p but don't get caught up in it yet. After 7p comes 4p and only then back up again.

[mali7] 20/2/2002 00:57

deutshe's has only 1.7% left, so when that's gone then we should see a rise, any views?

[lovegod] 19/2/2002 17:56

had a good feeling about egg and feel this should start to head northwards soon

[wetdream] 19/2/2002 17:08

mali7,
we'll see a rise if BGP survive!