Biocare Share Discussion Threads

[super7] 13/6/2001 19:54

My initial investment is worth diddly-squat now... and my recent £500 punt (better odds than the nags!, i think?) is just a punt. If I lose it, big deal. If BSN pulls it out of the bag, then top bannana. Either way I'm not bothered. The one thing I wont do, is give them any more of my money!!!!

I'm deleting BSN off of every stockwatch I have, and will look again, this time next year. The only thing to do in my opinion!!!

[spear] 13/6/2001 19:17

Of course they do Jon, it is what they want - they arrange it after all...

What they are saying is to the share holders vote for it or else its insolvency
that is all...

[jonc] 13/6/2001 19:03

Look at the cost of the Bridging Finance.

The banks are in control at the moment and are screwing the shareholders but the Directors HAVE to agree as the alternative is immediate receivership.

JC

[spear] 13/6/2001 17:58

Both statements are true and prudent.

1. Re insolvency
2. May not lead to profitability...

Now is the new management more prudent than the last ? what would the last have said ...that it WILL last to see us through to profitability...

Think about it...


Spear

[haystack] 13/6/2001 17:13

What is the relationship between the 130 odd million shares being placed 'from' with institutions and the other 130 odd million being offered to small sharesholders on a 4 for 5 basis. In other words what will happen if the small shareholder does not want to take up the offer, which is a strong likelyhood. Does this mean that the 'form' institutions might say, "well I don't think we are quite so interested now, as you are not going to have enough money for all the things that you want to do". When the announcement talks about the open offer being a failure, it can only be the part of it that is for the private shareholders. The other part is supposed to be 'firm'. So it looks like the success or failure of the open offer and the insolvency of BSN is totally dependant on whether the current shareholders take up the offer. If they do thn the company carries on and if they don't then its curtains. It puts the average shareholder in a bit of a fix. If you want ot safeguard your current investment then you must put in more money (4/5 of your share value as though it was 5p a share). If everybody says "well, I think it is good money after bad", then the open offer will fail and you lose all your investment. I would think that there is a good chance that the shae price may drop more. If it goes under 5p then who would buy the rights at more than the current price?

It looks to me as though the 'firm' institutions have written a post dated cheque. If the open offer to the small shareholders does not work then they cancel the cheque.

[haystack] 13/6/2001 16:51

Check out this sentence.

"However, Bright Station also warned there is no guarantee that it will reach overall profitability in the near term"


LONDON (AFX) - Bright Station PLC warned it would face insolvency if its plans for refinancing the group with a placing and open offer are not completed. The company aims to raise about 12 mln stg and said this together with a bridging loan of around 1.5 mln stg would provide enough funds to keep the group going for at least the next 12 months. However, Bright Station also warned there is no guarantee that it will reach overall profitability in the near term.
Under the placing, the group is issuing 270 mln new ordinary shares, or 156 pct of the company's existing issued share capital. And under the open offer qualifying shareholders have the right to apply for up to 138.7 mln of the new ordinary shares at the issue price of 5 pence a share.
Bright Station said its continuing businesses as a whole have not yet achieved the level of revenues necessary to provide the group with operating profits. It plans to use the proceeds from the placing and offer to invest in building the profile and sales pipeline of its Smartlogik business but added that although the board expects strong revenue growth, "this investment will have a consequential impact on earnings for the year."
Smartlogik provides search technologies and knowledge management products to companies and internet portals. The company said Smartlogik "continues to trade satisfactorily" taking into account the disruption caused by the group's financial woes and added the group's name will be changed to Smartlogik Group PLC on completion of its refinancing.

[haystack] 13/6/2001 16:33

That sounds like a veiled threat to the small shareholders.

[snape] 13/6/2001 16:28

ok found reason for the fall now
sounds like they added into the announcement that a failure of the rights issue would lead to insolvency.

[haystack] 13/6/2001 16:17

They are issuing more shares than there are at the monent. That means that your shareholding is being diluted to about 39% of it's previous share. You have the chance to buy 4 for 5 with new money at 5p. The share price is dropping to match the offer price or lower. The real question is what are the shares going to be worth after the dust settles. How long is the money going to last them and will they get new customers fast enough before the money dries up. I wonder how many BSN shareholders will cough up more money.

[snape] 13/6/2001 15:53

So why the drop?
surely their announcement this afternoon just confirms what they indicated a couple of weeks back

[forfaiter] 13/6/2001 12:12

Looking good.

Haystacks is very quiet of late ??

[spear] 13/6/2001 11:52

True Martin.

But the share price must be worth it at this level especially with the rights
issue bonus @ 5p. For what its worth I think, for once we have decent management
now....

BSN has been valued way way above its current level when it was in MUCH worse a
state as a company. The ONLY decent product it ever had was smart logik.

Now they are going to get on with it... what has or should have been obvious for a long time...

Nice to see a small tick up today.
Spear,

[krenig] 13/6/2001 11:22

Point taken Martin, but there are already big fish in the pond, I dont think anyone would dismiss BSN on those grounds. We shall wait and see.

[martinc] 13/6/2001 09:28

krenig - having the best product isn't enough. Betaqmax was arguably the best video format.. didn't get it very far. If a big company is looking for a software supplier, and one candidate is little BSN, they might reject it outright on the grounds that BSN might not exist to provide tech support after they buy it. You may be right, and may the best product win.

[spear] 12/6/2001 20:20

Prudential increases holdings today...

[spear] 11/6/2001 23:20

JT depends what youre after I suppose. I would say that there were better stocks out there than BSN to do that. Especially as so much has now changed at the company. Personally Im happy to grow a beard because I am looking for this to be one of my stars of the year. Time will tell...

Regards,
Spear

[jellytots] 10/6/2001 12:19

Dear all, from my observations it looks like you can buy this stock on a low and get out on a high and make some money (providing the spreads aren't too big). Please look at chart over period of the last month to see what I mean.

[lgw] 09/6/2001 00:50

we can all grow beards together then.

[srmgrant] 08/6/2001 19:46

I am gonna grow a beard with you lot to..................

[krenig] 08/6/2001 17:05

No he left about 8 months ago

[lgw] 08/6/2001 16:36

why is he an ex-employee was he one of the unfortunates that lost their jobs?

[krenig] 08/6/2001 16:24

Speaking to an ex-employee friend of mine, BSN have the best Product in the market. It is not a question of if something will happen it is when.

[lgw] 08/6/2001 15:52

well I agree with you totally its just that it seems as if we are all just hanging about waiting for something to happen only to be let down again and again.

[maryamb] 08/6/2001 14:13

what happens if one has't got a beard to grow , and thinks long term this stock might go somewhere. !!!!!

[maryamb] 08/6/2001 09:44

spear
I am sure that you are right about ,taking a risk at this stage , could prove to be a good desision in long run , at 5p each, it is a chance to average down even more, I must say ,I am more towards taking the rights issue , I have to see how the finance is when the time comes,

think I will be watching this bb for a long time too.
maryamb