Biofocus Share Discussion Threads

[jonwig] 17/10/2005 11:40

Yes, alpha, ADVFN picked it up for me: GLPG - that's where I got the bottom chart from.

[alpha534u] 17/10/2005 11:34

was going to ask what the new ticker will be for london is it lse : glpg ?
t.i.a. alpha. advfn not picking it up will check my trading account later.

[sportbilly1976] 13/10/2005 13:19

due to the fall in the GLPG share price from 11.95 to the current 10.2 Euro, the equivalent takeover price is now approx £1.54....

[jonwig] 13/10/2005 09:26

The only dual-listed shares I know of are listed sterling in London, and local currencies elsewhere.

(AAA, Canada $ in Toronto, £ sterling here, for example).

[alpha534u] 13/10/2005 09:20

the new shares on AIM will they be in sterling or euros ? would of thought euros anyone know ?

[jonwig] 13/10/2005 08:19

Relevant LSE rules (but I don't understand them!!)

When issued dealing [7050-7051]

G7050 A member firm may undertake when issued dealing in a domestic market security, subject to the following conditions:

7050.1 an application for when issued dealing is made on the prescribed form by the sponsoring broker to the issue or the application is made with the support of the issuer, as evidenced by the terms of the application;

7050.2 the application is made at the time of the submission of draft listing particulars or ten days before the date on which the security is to be officially listed, whichever is the later;

7050.3 the Exchange approves the when issued dealing by notice;

7050.4 the offer is an initial public offer, demerger or reconstruction (other than a takeover or merger) and there is not, at the time of the offer, a market for the offered securities;

7050.5 trading does not commence until after the offer price and full allocation details have been publicly announced and listing particulars have been approved and ends on such date as the Exchange shall specify, except that if an issue includes a mandatory offer for sale to the public, trading shall not commence until the day after the offer for sale closes;

7050.6 the offer, if wholly in the United Kingdom has a value of £100m or more, except that for an offer partially outside the United Kingdom, trading or its equivalent is permitted in the country or countries in which the listing or quotation is sought, the £100m value requirement shall not apply;

7050.7 a trade report is submitted pursuant to these rules for every transaction effected on Exchange;

7050.8 if the resulting securities are not officially listed every transaction effected under this rule is void.

7051 A member firm may undertake when issued dealing in a security convertible into, or a warrant exchangeable for, a domestic market security, after listing particulars have been filed and the issue, including the issue price, has been publicly announced by or on behalf of the issuer, and subject to compliance with the provisions of rules 7050.4 and 7050.5.

In any case, full dealing in GLPG shares from 20/10, so it may depend on your broker whether you can trade from 17/10 to 19/10.

[alpha534u] 13/10/2005 08:07

yes looking forward to being a GLPG holder !! They have many items in the pipeline and the new enhanced company is a major plus for them going forward.
imho dyor etc.

[jonwig] 13/10/2005 07:18

That's excellent news (my post #142 was inaccurate, and now edited):

• approximately 76.9 per cent acceptance

• unconditional as over 50%

• dealings in new GLPG shares from Mon 17/10.

See header for full RNS.

[jonwig] 12/10/2005 09:44

Vector,

First closing date is today, 13:00 with (I think) an announcement of take-up by 08:00 tomorrow.
If 90+% acceptance, offer goes unconditional and GLPG shares issued within four working days..

REST EDITED OUT, AS WRONG INFO - I'M PLEASED TO SAY!!

[vector] 12/10/2005 09:27

Wondering now why i didn't join the arbitragers and buy more. Anyway shall continue to sit on my shares until we get the Galapagos shares - when is that likley to be? I thought it was today

[jonwig] 12/10/2005 08:46

This in today's Times:

BioFocus surged 29p at 144p as Dutch arbitrageurs bought the British biotech as a cheap route into Galapagos, the Euronext-listed drug discovery group that launched an agreed all-share offer last month. With Galapagos closing at €11.50 on Monday, its offer was worth 178p a share, against the 56p at which BioFocus traded before the approach and yesterday's open of 115p. With Dutch buyers of BioFocus expected to vote their stock in favour of the deal, today's first closing date is tipped to show a strong level of acceptances.



It took them long enough to realise: maybe someone started reading this thread?

[mgstone] 11/10/2005 16:25

no, well I did well on the first 2 spikes, thought the 3rd would hold and didn't but still managed a profit. I can't see it going much lower than 50p with institutions now on board... we'll see. Cheers.

[alexacj] 11/10/2005 16:21

You very brave person....don't trust WINS! ...the one and only time I've been in LGB was for approx 4 hours....made a nice £2.5k profit.....as it rose to £1.10ish....I REALLY do wonder where all that money suddenly came from.....smells as high as a kite to me.....but good luck for that bounce...it can happen.....IMO just don't stay in too long!

[mgstone] 11/10/2005 16:12

cheers - just got some LGB for a 3rd attempt at a bounce! :-/

[alexacj] 11/10/2005 15:31

Good luck & well done on your profit!

[mgstone] 11/10/2005 14:57

thanks alexacj

Well I took the profits on my trade this morning, I couldn't have asked for more really in 1 day :-) . I'm sure this will be good long term too but need the funds unfortunately. All the best to those holding.

[alexacj] 11/10/2005 14:56

L2
1 @(£1.43) V 2 @(£1.45) each MM quoting for 5k of stock

[mgstone] 11/10/2005 14:44

has anyone got buy / sell limits / Level 2 please?

tia

[alexacj] 11/10/2005 13:14

I read it as 11.96 but I really won't argue......£1.77 will do me fine.....does anyone now think that the MMs might be a tad short?....even with this large rise of 26p they are still undervalued by lets call it about 35p a share!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[cragside] 11/10/2005 13:07

If Galapagos current price is 11.66 euros, should not the current price of BIO be £1.77?

[jonwig] 11/10/2005 12:37

The GLPG share price is certainly motoring: thanks, mgstone for your post #127.
The shares might well be worth keeping, especially since current BIO holders will have got them on the cheap.

[alexacj] 11/10/2005 11:45

Now worth £1.82!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I really can't understand this....that makes my small holding worth £17000 more than the current MMs bid price.......I must be missing something!

[alpha534u] 11/10/2005 10:32

The presentation from the share offer was well worth listening to, plenty more to follow with Galapagos.

[mgstone] 11/10/2005 10:26

GLPG well up today too, seem to be creeping up a few % almost every day now! It is worth reading the news announcements for GLPG, had one last Fri:

(07/10/05 08:35 CET)

Galapagos obtains U.S. patent protecting its discovery platform

Mechelen, Belgium and Leiden, The Netherlands; October 7, 2005 - Galapagos (Euronext Amsterdam: GLPGA, Euronext Brussels: GLPG), today announced that it received a Notice of Allowance of a third US patent related to "High throughput screening of gene function using adenoviral libraries for functional genomics applications." Whereas the first two granted US patents claimed the adenoviral library and the method of producing such library, this third patent protects the method of determining the function of a nucleic acid; moreover, it extends the patent life until 2019. In 2004, the European patent office granted Galapagos a patent with similar claims that remained unchallenged during the opposition period, and in May 2005 Galapagos was granted the corresponding Japanese patent.


This suite of granted patents protects the Company's adenoviral gene knock-down (SilenceSelect®) and gene knock-in (FLeXSelect®) collections, the core of multiple target discovery deals with pharmaceutical and biotech companies as well as patient organizations.

"We are very pleased with this latest Notice of Allowance, as it strengthens the protection of our technologies in functional genomics services into the next decade. It also underscores our strategy to systematically protect inventions made by our innovative scientific teams," said Onno van de Stolpe, CEO of Galapagos. "Our intellectual property position provides us with a unique position in drug target discovery and this translates into income to support our internal drug discovery efforts."