The Fulham Shore Share Discussion Threads

[ansc] 14/1/2010 08:51

I didn't know anything about Rathbone Bros (see RAT) until doing a bit of research last night, they're certainly not a tupenny-halfpenny concern! I'd love to know whom instructed them to go for that 'long' and what, with FUL being a small company, the cost was. Having never indulged in taking short/long positions myself, am a complete ignoramus on the topic.

[monis] 13/1/2010 16:58

I like the look of that rns today. That's a fair amount someone has picked up.

[bbd2] 13/1/2010 15:03

That looks rather positive to me. I wonder if they have got wind of an additional interested party. Now that really would be good news !

[ansc] 13/1/2010 14:23

Interesting to see the Rule 8.3 disclosure regarding Rathbone Bros going 'long' for 6,165,720 (3.47%) shares yesterday. Does one assume from that that they don't think the approach is going nowhere?

I'll need to keep my eye on the share price closely over the next couple of weeks or so. Any weakness - to around 2.85p - and will be back in for a few more. Another 200k and I'll be up to a neat round figure!

[mountain man] 08/1/2010 12:53

ansc
Understand what you say - it's just a feeling I have that the market believes the approach is going nowhere, hence the current price. I've been in for 4 years and increased my holding last year - the current approach is quite opportunistic and I'd hate to see someone else reap the real rewards in a couple of years time - 6p seems derisory when weighed against perceived future potential.
Like you I'm prepared to suffer a while yet!

mm

[ansc] 08/1/2010 12:35

mm - If the approach had fallen through, the company would be obliged to inform shareholders asap because that would be classed as significant information. My take on the situation is that, because FUL is not in a 'Fire Sale' situation, they do not need to give the company away on the cheap and consequently the Offerer is having to do a time consuming in-depth 'due diligence' evaluation especially as FUL is already four months into their first half-year; the fact that there hasn't been any announcement since November's RNS is probably down to a confidentiality agreement.

Like you, I'm still feeling quite optimistic that, even if the bid approach falls through - and I wouldn't willingly accept a price below 6p - the company's prospects are looking OK in their own right. Hence my top-up of 100k recently. I've sat-and-suffered for five long years so another couple is neither here nor there!

[mountain man] 08/1/2010 10:02

ansc
Price suggests the aproach made in November has fallen away - any idea if this is the case.
In many ways I hope it has, as I think this is just the sort of company that will ultimately benefit from the recession.
mm

[ansc] 07/1/2010 21:03

They've somehow managed to get the 'buy' and 'sale details the wrong way round, check the marks against timings reported yesterday (Plus and Hems).

That doesn't surprise me in the least. Why any company uses SeyP as their broker/Nomad is beyond my understanding! Their rating of being the worst such company around is well deserved (imho).

[ameer] 07/1/2010 20:01

How they (Seymour Pierce) can buy below the Bid price and sell above it?
Why can't we have such generous deals?

___________________________
RNS Number : 1789F
Seymour Pierce Ltd
07 January 2010

......Price.....Shares.....Bid....Offer...Time
Buy...2.55......63000......2.75...3.5.....09:56:14
Sell..2.85......100000.....2.5....3.25....15:39:08

[ameer] 05/1/2010 12:19

Seymour Pierce Ltd sold 10K shares, about £300 worth of shares!
Probably to pay for Christmas lunch :)

[bbd2] 29/11/2009 10:39

Anyone able to attend might be able to ask a pertinent question about the approach:

[monis] 24/11/2009 10:44

I would guess having had an approach we should hear pretty soon.

[yogro] 23/11/2009 17:25

suggest all bright sparks post suggestions on current developments and the implications
cmon guys and gals, talk is cheap

[monis] 23/11/2009 16:15

Any thoughts of when we may hear news?

[ansc] 23/11/2009 12:45

According to my broker, you can buy AND sell online at 3.80p this morning. I've very rarely seen this phenomenon during 40 years dabbling in small caps and it must certainly be a unique occurrence for FUL.

It's not often that the Money Makers aren't trying to make a fast buck at our expense. They must be confused!

[ansc] 22/11/2009 13:21

So who might this mystery suitor be? No clues by glancing down through the list of substantive holders above; all appear to be either nominee accounts or individuals.

As for companies with the faintist of connections to FUL, other than SkyPharma which bbd2 mentioned last week - Frank Condella becomes their non-exec chair on 1st January next year, I have found just Quantum Solutions India, with whom FUL signed a collaborative agreement last November, and Cowen Healthcare Royalty Partners, a huge US healthcare investor where FUL's chair (Dr Frank Armstrong) is an advisory board member.

And what should we make of the 'acquisition expenses in respect of an acquisition under negotiation during the year which has not been completed' mentioned in the results statement.

The excitement is almost unbearable, let's hope we are not held in suspense for too long!

[masrscb9] 21/11/2009 21:17

I don't think the directors will let this go on the cheap. They are shareholders themselves, having increased their holdings at 3-3.5p and the bulk of the latest options were set at 6p and 12p, which I assume they consider to be attainable or it would hardly be motivating.

[platts] 21/11/2009 15:53

fat chance!

[buggy] 20/11/2009 12:52

That is the best they could do for the long suffering share holders as they clearly can't make this work.

Great prospects on paper, but a dog of a share. Sold out at a loss about a year ago but has not regreted taking my medicine and moving on, so good luck to those that are still in.

Hopefully they can negotiate a decent take out price for the share holders.

[platts] 20/11/2009 12:31

take-over sounds a very good idea- the company clearly is incapable of making a profit- so maybe a new management will do much better- it certainly cannot be worse.
It will be interesting to see if a price emerges- of course with ful it is important always to expect disappointment.

[monis] 20/11/2009 11:39

thanks.

Looks like we are moving up.

[ansc] 20/11/2009 08:38

How long is a piece of string? In FUL's case, I would find it impossible to hazard even a guess at a valuation - I'm clueless when a company's main asset is its staff/brand name. But what we do know is that the company is in a sound financial position - extremely important in the present economic climate; has worldwide coverage through basis in Europe, USA and Japan; and is in the pharmaceutical sector which is usually fairly resilient in times of recession.

Last week's figures were disappointing but the chairman stated that the company was "well positioned to take full advantage of future opportunities in the outsourcing market". The directors, therefore, are not in a 'fire sale' situation and need not give the company away at a knockdown price.

As ever, I'm optimistic!

edit: I'd be over the moon at velvetide's suggested 17.5p!!

[monis] 19/11/2009 22:26

What do we think a realistic price would be for a take out?