Bioquell Share Discussion Threads

[manrobert] 11/12/2015 10:37

pavey ark,nice gesture.am sure it will prosper.

[pavey ark] 11/12/2015 08:27

Just started a small investment fund/portfolio for my two year old grandson and the first purchase is 700 shares in BQE.
With NO REALISTIC DOWNSIDE and a very likely 30%/50%+upside in one to two months I am confident he is off to a good start.

112p cash per share and a business with t/o of almost £30m, £12m gross profit, t/o rising and the company up for sale !!!

Add in inventory,property and equipment to the cash and you have VERY TANGIBLE assets of 135p/share without the valuable business that is up for sale.

[manrobert] 26/11/2015 13:06

managed to buy 3500 at 14o.25 but shown as a sell.

[pinkie] 23/11/2015 18:57

P A
The company used the phrase under offer period which I agree could be misleading
You can rest assured that if I glean anything of interest re Bio it will be shared
I suspect Simon Thompson will be ahead of the game though.

[bountyhunter] 23/11/2015 17:55

...certainly on the late side this year

[pavey ark] 23/11/2015 17:34

Pinkie, if you look at my post (814) I did cover all this but you have gone from quoting the 2nd of December to now suggesting that you have contacted the company.
If you have contacted the company it would be nice if you shared what was said.
The company have effectively put themselves up for sale but did they actually say they were "under offer" ?

I certainly agree that the company has no requirement to issue this Interim statement but they have done so for a number of years and even named it the "ten month interim statement/update"


As I said before, Simon Thompson wrote that he expected news in or before January and although I'm not suggesting anything underhand or illegal I suspect he would get more info than we would ever get when he was talking to the analysts.
I also have pointed out that N+1 Singer are now sole broker and adviser to the company and he did quote them as his source of information.
I am pretty certain a deal has been done or is very close and although I am uneasy about saying this but recent event in Paris and the heightened terror threat can only increase the value of the business that is up for sale.

[effortless cool] 23/11/2015 14:15

There's no legal requirement for any company to provide Interim Management Statements any more, under offer or not.

[pinkie] 23/11/2015 14:13

The company are now saying that since they are Under Offer, there is no legal requirement to provide any Interim Statements

[bbluesky] 22/11/2015 10:52

The company website financial calendar says "November 2015 Interim management statement"

[eezymunny] 22/11/2015 09:25

Pinkie. People are asking WHERE you got this Dec 2 date from. No point in stating something unless you can show that it's true!

[pinkie] 20/11/2015 11:37

Yes they have announced that there will be a trading update on Dec2 I am guessing that the change of date after so many years at the earlier time is because they have some other exciting news to tell us

[pavey ark] 20/11/2015 11:05

I do know what an interim trading update is but I was wondering why you think there will be one on the 2nd of December.
I would be pleased with an announcement on this date but as I posted earlier the 10 month trading update has been between the second and third week in November for as far back as I looked (5 years).
So again, why do you think/know there will be an update on the 2nd of December ?
Has the company announced this ?

[pinkie] 20/11/2015 09:02

Dec 2 is an interim trading update and may use it to enlighten us on other matters

[bountyhunter] 19/11/2015 17:36

topped up, imho undervalued fwiw!

[pavey ark] 19/11/2015 17:17

pinkie, please expand.

Hunch, information from the company, a message from the other side ?

[pinkie] 19/11/2015 15:41

I have December 2nd for an update

[strathroyal] 19/11/2015 11:57

Difficult to know what to make of this announcement. Presumably a company can't replace its broker with immediate effect, so do we assume that the broker was given notice a month or more ago as they weren't making progress with the sale?

On the other hand ST has constantly quoted N+1 when providing financial information on BQE so I can see why he wouldn't be too concerned with the change.

Overall it has modified my expectations and a sale at the bottom end of ST's range seems more likely, although I always respect Christopher Mills' skills and he may yet obtain a higher share price

[pavey ark] 19/11/2015 08:11

Just double checked and the Interim Management Statement has been on the 19,15,16,18 and 19th of November over the last five years.
There's always tomorrow to go and I don't expect that management are obliged to issue this statement but I did note that Simon Thompson did specifically mention this
"In today's column, I am focusing on another special situation that's in play, too, and one where the end game could be reached by the time the board issues a pre-close trading update in mid-January."
Simon Thompson also specifically mentions N+1 Singer as his source of information/data and they were appointed sole broker and adviser yesterday so my reading is that things are moving along and I suppose it would be difficult to issue this traditional 10 month update without saying more than you want to say at this stage.
When the company invited bids in May they did stress the need for secrecy/confidentiality on the part of the potential bidders.
Edit: If a deal is done I imagine there will be an immediate announcement so perhaps the emphasis should be placed on the mid-January being the final date for information and the acquiring company would have a look at the full year results.

[pavey ark] 18/11/2015 13:03

Re; today's announcement.

N+1 Singers are the analysts quoted in the Simon Thompson "Strong buy" recommendation in the IC.

Looks to me that moves are afoot but not sure what moves !!

The main point,repeated by Simon Thompson, is that there would appear to be very little downside from here and a possible upside of c. 50%

£50m in cash and a profitable business does look good but obviously up to the individual as to how he or she views this.

[pavey ark] 18/11/2015 11:41

A few weeks ago I checked back over the last five years and there has been a 10 month trading update during this week every year.

Simon Thompson in the IC has (this week) reiterated his "strong buy" recommendation with a fairy lengthy and detailed piece.

Analysts are looking for £4.4m cash generated next year and expect that any acquiring company could take £1.5m out of cost without altering the business.

Given that I expect cash to be very close to £50m at the year end the company could return £1/share and still have a company worth north of £1/share.

£7m retained cash, £3.8m inventory, £5.7m property and equipment (both from most recent results), a projected t/o of £32m and the afore mentioned £4.4m cash generation.

Simon Thompson certainly gave plenty of hints that he thought (knew ?) that a sale was very likely and mentioned directors interests, company options etc.

Anyway , we should get the 10 month statement this week and if we don't there may be a reason.

[pavey ark] 06/11/2015 12:33

NT – Negotiated trade with immediate publication

Hard to tell but it is right on the mid point.
No price reaction either way but it could be someone taking a punt on news being out soon.

[strathroyal] 06/11/2015 10:35

First large trade I've seen for a few weeks and unclear whether it's a buy or a sell. Perhaps we will shortly have news.....

[pavey ark] 04/11/2015 20:16

Couldn't resist a top up this afternoon as I had spent some time looking over recent figures.
If you strip out the almost £9m intangibles you get comfortably over 130p asset value with 112p in cash.
My figures include £3.8m inventory and over £5m property plant and equipment.
As we all know the remainder of the company is up for sale so effectively I have only put a figure of £5m on the company as the inventory would be over and above the sale price (although a total price may be quoted).

If a sale goes ahead I am sure the management would not sell for less than 180p (probably more)and if the remaining business is not sold it is sound enough to still make this look very attractive at 135p.

There was an update last November and I expect some news soon.

[18bt] 21/10/2015 08:40

Just bought in:: this looks 20% under valued IMHO