Biocare Share Discussion Threads

[mjf123] 01/6/2001 13:52

Looks like we have hit the bottom,any views..?

[spear] 31/5/2001 23:09

Thanks Mike.

Maybe I will be back, I am always keeping an eye on them.

Spear

[mikelangdon] 31/5/2001 23:01

Spear
As far as FIB is concerned I have no idea about the share price short-term.
We are in the hands of the yanks.
Nasdaq goes down we go down.
Nasdaq goes up we go up slightly.

FIB are cash rich for TANet Germany and France network build.
After these networks are built I expect FIB to have cash left over from their £100+ million pile.
High speed data carriers are in a high growth market ( according to datamonitor) so I am happy with FIB long term.
Mike

[haystack] 31/5/2001 22:54

I am looking at a price of more like 3p for the current shares. What is going to be the reaction of the institutions that have agreed to buy the shares at 5p if it drops to 3p. What will the reaction of the supplier of the bridging finance if the share price goes to 3p or lower. If the price drops to under 5p, why would the institutions want 270 million at 5p.

[spear] 31/5/2001 22:48

Thanks Mike,

Things with BSN are now not as bad as they look.
I am obviously dissapointed but the change in management and the refocussing of the company is good.

Regarding FIB, I sold at £6, still liked the company though, what price do
you think they may settle at after the recent rally has faded a little ?

Cheers
Spear

[mikelangdon] 31/5/2001 22:24

Spear
You have my sympathty holding BSN.
With the huge number of new shares coming to market soon I can see 5p for the old shares.
Remember the flak that Fibernet got for their rights issue last Nov where they raised £75 million ??
At the time FIB got loads of stick ( not from me !) but in hindsight they were very wise to tap the markets then rather than now.

cheers
Mike

[spear] 31/5/2001 21:52

Haystack I agree too.

I rang my broker up today to check the price....

He said what stock would you like ? I said BSN... pause... Oh hasnt that changed its name ? pause ... oh no here it is... @ 10.30 this morning !!

The thing is it was a positive announcement for the company...

We shed the bad management & get good management with a track record
and get a focused company whilst shedding all the other parts of the bussines.

The person to blame for the share proce fall is Mr Wagner without doubt.

Why did he not raise additional finances when the price was much higher ?

[superpete] 31/5/2001 19:06

Haystack
Just seen your post.I agree BSN is not the first and will not be the last example where mms move the price up quickly only to drop it just as fast to finish lower than open.All a case of 'you pays your money and makes your choice.' I've been caught out twice by dial-a-dog and on my 'don't touch with a bargepole' list of companies with financing problems/poor sentiment in the City however tempting it might appear to be.We all need to learn these lessons and hopefully become a better investor. Strickly one for the brave short term trader in my view.
Pete:)

[superpete] 31/5/2001 18:58

Spear,
These speculative companies are always a 50/50 punt/gamble on how they trade;Scoot & QXL are other recent examples.Hopefully not too many investors 'impulse' bought without doing proper research or weighing up risk/reward.

BSN formerly known as Dialogue or more popularly referred to in the press as "Dial-a-dog" has had it's history and catalogue of problems well publicized. I know the company well and was not tempted to gamble until financing sorted out as it has the makings of another Money Channel,Save etc.

Share opened at 8.5/9.5 rose to 10/11 and closed 7/8.5p.Some investors may have sold if operating 'a stop loss'. Those buying at 11p now sitting on a 36.36% loss. I guess open tomorrow will be very much influenced by what the mornings press have to say.A placing of extra 270m shares if taken up is not good news for in anyones language and subsequent dilution in share price.

Good Luck to all holders.
Best Wishes
Pete:)

[haystack] 31/5/2001 18:44

I have to say that I think that the MMs knew about the deal before it came out. I have seen this before. They put up the spread to giv the impression that there is a buyer out there. People think a deal is about to be announced and pile in. This gives the MMs a chance to unload their shares at a good price. The announcement comes and they drop the price even lower than it was at the beginning of the day. There were no large trades that came through at the end of the day, so a buyer does not look likely. It started shooting up at about 9:30 on the basis of just a few buys. It all looks a bit suspicious.

[spear] 31/5/2001 18:25

Apologies for my misreading of the situation.
I was wrong and I will take any criticism that comes my way as it seems well deserved.

Spear.

[superpete] 31/5/2001 15:51

With financing problems and proposed placing of 270m shares can't see share staying above 5p ?



RNS Number:4899E
Bright Station PLC
31 May 2001


31 May 2001


Bright Station Plc ("Bright Station" or "the Company")


Placing of 270,000,000 new ordinary shares of 1p each ("New Ordinary Shares")
on behalf of the Company at 5p per share incorporating an open offer of up to
138,661,969 New Ordinary Shares on the basis of 4 shares for every 5 held (the
"Placing and Open Offer")


On 30 April 2001, your Board announced that Bright Station required additional
funds in the immediate short term to secure the Company's financial position.

Today the Board announces that it has secured placing commitments from
institutional investors to raise approximately #12 million (net of expenses)
through the issue of 270,000,000 New Ordinary Shares at 5 pence each (the "
Issue Price"). Although the Placing and Open Offer will result in dilution of
existing shareholders, shareholders will be given the opportunity of
subscribing for a proportion of the New Ordinary Shares on the basis of 4 New
Ordinary Shares for every 5 existing Ordinary Shares held. Your Directors
believe that the Placing and Open Offer is the best option available to the
Company given its current financial position.

The placing commitments are conditional upon, inter alia, shareholder approval
and a prospectus being sent to shareholders which contains a working capital
statement which is compliant with the Listing Rules and unqualified except as
to Admission. In this regard the Company believes that it would be prudent to
secure a bridge financing facility to cover the period until receipt of the
funds from the Placing and Open Offer. Advanced discussions with providers of
bridge financing are ongoing and the Board is confident that this facility
will be secured in the near term.

It is currently proposed that 270,000,000 New Ordinary Shares will be issued
in connection with the Placing and Open Offer to raise #13.5 million (gross).
Under the proposed Open Offer, up to 138,661,969 of the New Ordinary Shares
will be offered to qualifying shareholders (the "Open Offer Shares") at the
Issue Price on the basis of 4 Open Offer Shares for every 5 existing Ordinary
Shares held. Accordingly, the Open Offer Shares have been placed with
institutional investors by Hoare Govett as agent for the Company, subject to
clawback under the Open Offer, and the remaining 131,338,031 New Ordinary
Shares are being placed firm. The New Ordinary Shares will rank pari passu in
all respects with the Company's existing ordinary shares.

The proceeds from the Placing and Open Offer will be focused on the Group's
core Smartlogik subsidiary, which provides search technologies and knowledge
management solutions to corporations and Internet portals. The Board is in
the process of closing what remains of both its Sparza and OfficeShopper
businesses, neither of which is currently trading, as well as continuing to
reduce its head office staff and other costs.

To reflect this restructuring, it is proposed that the Company will be renamed
Smartlogik plc with the following directors of the Smartlogik subsidiary
appointed to the Company's Board: David Jefferies CBE (Non-executive
Chairman), Stephen Hill (Chief Executive Officer), Simon Canham (Chief
Financial Officer) and Jim Bair (Non-executive Director). All of the existing
directors of the Company, with the exception of Robert Lomnitz, will resign
from the Board on completion of the Placing and Open Offer.

It is proposed that a circular comprising a prospectus will be issued as soon
as practicable. The circular will contain a notice convening an extraordinary
general meeting of the Company to approve the Placing and Open Offer and
related proposals. Application will also be made for the New Ordinary Shares
to be admitted to listing on the Official List of the UK Listing Authority and
to trading on the London Stock Exchange's main market for listed securities.

A separate announcement containing the Bright Station results for the first
quarter 2001 is also being issued today.



For further enquiries, please contact:



Bright Station plc
Allen Thomas, Chairman 020 7930 6900



Hoare Govett Limited (Brokers)
Andrew Chapman
Andrew Foster 020 7678 8000



Hogarth Partnership (for Bright Station)
James Longfield/John Olsen 020 7357 9477

[superpete] 31/5/2001 15:43

This share is remains 'a dog'- my first major loss when I started investing a few years back. Companies with cash problems and out of favour with the City are always a speculative gamble.

[kmcl] 31/5/2001 15:39

It looks to early to judge to me. My reading of the statements is that dan IS going, "all other directors will resign after the placement". The board is as I hoped, the name is changing. I expected dillusion from any package. If SL is the reason you bought the shares in the first place, then at least you are still in there fighting.

Problems collecting money often occur to companies who are struggling to survive. Non core activities to close, presumably at some cost, but providing savings in the long run. If they can get out of Leicester Square all the better. Looks like there is institutional backers.

It could have been so much worse.

[haystack] 31/5/2001 15:35

There are currently 173 million shares in issue and they are going to try and issue 270 million news ones. 173 million plus 270 million divided into 173 million equals 0.39. This dilutes your shares to 0.39. The price should drop accordingly. So it looks like they didn't get the financing and have had to reply on an open offer. Is this the end? If you take 8p and multiply it by 0.39 then you get 3p. This just so happens to be less than the price that you can buy the new shares at. In other words you are getting nothing and the price will drop to 5p or less on the day after the rights offer if it hasn't already by then. Take at look at the trades, you can see the panic selling. What price should we expect as a bottom?

[parrot] 31/5/2001 15:34

last one out turn the lights off.

[superpete] 31/5/2001 15:31

Spear,

BSN 'on the blink'?

Hope that you banked your profits @ 20%

[cyber investor] 31/5/2001 15:30

open offer !

AGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGGH !

[superpete] 31/5/2001 15:22

Back to the top me thinks. You either make or lose money on this one, all depending on your timing.My golden rule on "dial-a-dog" is always bank your profits and run.

[darren b] 31/5/2001 15:18

To many ifs and buts for me. Glad I stayed out. Market place will be awash with shares if they do manage to stay alive. Very risky imo

[haystack] 31/5/2001 15:16

This is all dependant on a bridging finance loan until they get the money form the open offer. Will they get the bridging finance? It all looks a bit dodgy to me. The whole deal is only worth £12 million and that is if the private investors take up all their allocation.

[haystack] 31/5/2001 15:15

Yes. An open offer has been published. You can buy 4 for every five that you own. Half the 270 million shares are for private investors, if any of them will buy. The other half has been placed 'firm'. with institutaional buyers and the company is to be called Smartlogic plc. It looks like Dan will be staying. The price dropped after it was announced. It will dilute yor shareholding qhuite a lot.

[darren b] 31/5/2001 15:10

Down we go ............................