Genuit Share Discussion Threads

[rambutan2] 18/6/2004 12:21

i rang spoke to gen on tues re the shareholdings and they said would look into it with their brokers. this out today which imho is anothe encouraging sign. i rate highly gervais williams and the small cap team at gartmore...

We write to inform you that we are currently aware of an interest in 12,576,905
Ordinary Shares in Generics Group, representing 5.84% of the voting rights. The beneficial owners with their respective holdings are as shown on the sheet
below. The percentage holding is based on the number of shares in issue as
supplied to us by Extel Financial Limited.

The total number of shares comprises the aggregated holdings controlled by
Gartmore Investment Limited (GIL). Gartmore Fund Managers Limited (GFM) and
Gartmore Global Partners (GGP), as discretionary investment managers of the
clients and client funds listed on the sheet below and, accordingly having
voting power in respect of the shares and power to dispose of them. The shares
are held for investment purposes only for the clients and client funds
concerned.

From Gartmore Investment Management plc


Current holdings by fund Manager

GENERICS GROUP AG CHF0.10

Fund Managing Co. Number of Issued Share Percentage of Fund Beneficial Owner
shares Held Capital Issue Capital

Gartmore Fund Manager Ltd 7,870,159 3.65l% 56690 GARTMORE FUND
MANAGERS LTD A/C
GARTMORE UK & IRISH
SMALLER COMPANIES
STRATEGY FUND

7,870,159 3.651%

Gartmore Investment Ltd 1,306,746 0.606% 56640 GARTMORE GROWTH
OPPORTUNITIES PLC

Gartmore Investment Ltd 2,600,000 1.206% VOLANT THE ALPHAGEN
VOLANTIS FUND LIMITED

Gartmore Investment Ltd 800,000 0.371% GMT GARTMORE FLEDGLING
TRUST PLC

4,706,746 2.184%

12,576,905 215,548,880 5.835%

[rambutan2] 13/6/2004 18:58

hmm. just noticed that gen doesnt seem to be held by the investment trust. perhaps its in the world wide fund?

[rambutan2] 13/6/2004 18:44

yes. they must have wanted to be certain they got in.
i imagine that mr edge didnt take up much/if any of his 10.3m entitlement?
will be interesting to see whether herald took up theres.

[maxwellsdemon] 13/6/2004 18:34

Interestingly, the nil paid rights opened up at about 2p. I managed to sell some at 1.5p and took up my rights on the remainder. Of the 31 million nil paid rights sold on the market most were transfered at 1p. So there was an acquirer or acquirers, out there, who were willing to pay effectively 9p (or just over 9p) per share.

[rambutan2] 13/6/2004 18:25

well, they did contact me about the spare 9.6m but i told them i was too busy on bigger deals!

but seriously, it will be v interesting to see where the share price goes from here. the underwriters are in a weak position now, as everyone knows the situation. will they/can they hold on in the hope of better things to come, or will the likes of tudor offer say 6p for the lot and they just get rid of them and accepts the losses? for the sharp eyed, there might just be an opp to pick up some on the cheap on the day of any transaction. as always with this one, interesting times.

[maxwellsdemon] 13/6/2004 18:15

rambutan2,

I guess you are probably right. But it still begs the question: Who took up the 31 million nil paid rights which were apparently sold and where will the 9.6 million left with the underwriters go? My gut feeling is that Tudor are just not the kind of fund that piddles about. I suppose we will just have to wait for further disclosures.


From the links you cited:

Total prior to rights issue = 107,774,400

catella 51,731,712 48.00%
edge 10,350,848 9.60%
hearld 5,470,000 5.08%
rylander 1,218,055 1.13%
bjorklund 560,255 0.52%

sub total 69,330,870 64.33%



On the 2nd September 2002, Professor Gordon Edge, chairman of the Generics Group
AG, informed the company that on the 30th August 2002 he has purchased
additional 222,222 shares of CHF 0.10 each in Generics at 9 pence per share. His
total holding of CHF 0.10 shares now stands at 10, 350, 848 shares.

On the 27th February 2003, Herald Investment Management Limited, informed the
company that on the 25th and 26th February 2003 it purchased an additional
1,800,000 shares of CHF 0.10 each in Generics. The shares are registered in the
name of Rock Nominees Limited. Herald Investment Management Limited total
holding of CHF 0.10 shares now stands at 5,470,000 shares, representing 5% of
the issued share capital.

On the 2nd September 2002, Gunnar Rylander, director of the Generics Group AG,
informed the company that on the 30th August 2002 he has purchased additional
555,555 shares of CHF 0.10 each in Generics at 9 pence per share. His total
holding of CHF 0.10 shares now stands at 1, 218,055 shares.

On the 2nd September 2002, Johan Bjorklund, director of the Generics Group AG,
informed the company that on the 30th August 2002 he has purchased additional
555,555 shares of CHF 0.10 each in Generics at 9 pence per share. His total
holding of CHF 0.10 shares now stands at 560,255 shares.

[maxwellsdemon] 13/6/2004 11:09

rambutan2,

Edited:

I can't figure out the two Tudor letters to Generics. Both letters state that what is being declared is the: "Percentage of issued share capital of Company as at 25th March 2004". But 25th March was well before the rights issue. In the letter from Tudor to Generics dated 10th June; 7,347,155 shares is stated to represent 3.41% of the company. 7347155/0.0341 = 215 million. This is the number of shares in the company post rights not the number as of 25th March.

In the 10th June letter Tudor write : "Following allocation of new shares pursuant to sub-underwriting we enclose amended disclosure notices". This would seem to suggest, as (I think) you have interpretated, that the amended disclosure is as a result of exercising some of the rights. The whole thing is a bit confusing

Not withstanding these points, a very large number of the nil paid rights were sold prior to the expiry date. Who bought them? Tudor? Will we see further disclosures?

The total number of nil paid rights issued was 107,774,400. Assuming Catella own 50% of the company and took up their rights as stated, then this leaves 54 million. I couldn't access trades which occurred more than 21 days ago as ADVFN have set a time limit. But, we can see from the incomplete list below that at least 31 million nil paid rights were sold. 9.6 million were not exercised (but subscribed by the underwriters). So that leaves only 14 million unaccounted for. If the Tudor holdings are in fact as of 25th March then this 14 million could be Tudor's rights. Tudor could be holding just under 30% of the company?

It would be an understatement to say that this share is illiquid. So what is Tudor's exit strategy? Catella may be content to hang about for eons but surely Tudor will want to realise (hopefully) a profit in the not too distant future.

I hope you are right about the change in fortune. :-) Do you still hold JIT and IBT?






PARTIAL LIST OF THE TRADES IN THE NIL PAID RIGHTS:

21 million shares sold on the 28th May



9 million sold 24th May



0.3 million sold on the 26th May

0.5 million sold on 2nd June

It has not been possible to procure purchasers for the 9,580,806 New Shares for
which valid acceptances were not received at a price (net of expenses)

9.6 million unsold and unexercised but subscribed by the underwriters

Chart for Nil Paid Rights:

[rambutan2] 12/6/2004 20:56

wonder if someone from gen reads this board?
in any case, last thing fri they re-released the tudor holding, and this time included the rights take up. so, tudor hold 9,868,004 (4.58%) and 5,313,540 (2.46%) in two separate funds. i think? as not completely clear in the rns.

whatever, theyve bought in this year, and theyve done it for a reason. they are one of the top hedge funds in the world and so i assume are good at this game. why would they buy into such an obscure, high risk, disaster prone (so far for its listed life) and oddball company if they didnt think that something good was within it? of course, there might be another good reason - perhaps we are a tax loss investment! - but i reckon the odds are highly in favour of something good. so good good good is my take on things. perhaps 2004/5 is going to see a change in fortunes for us.

[rambutan2] 11/6/2004 13:52

spoke too soon. a correction/retraction on those new shares has now appeared. thought that was a bit too good to be true!

[rambutan2] 11/6/2004 13:36

i just noticed that the tudor holding was as at 24 march. presume that they took up their rights.

and re those spare 9,580,806 New Shares (see post 294). it looks as though someone took them all at 9p? (could someone check please). if so, thats very good news.

[rambutan2] 10/6/2004 18:38

check out the new shareholder.
very honoured.
and surely a good omen.

[rambutan2] 09/6/2004 18:48

the rights isnt a bad result. although it looks as though price might have to drop short term in order to get rid of the overhang.


UK innovation is falling behind the competition
Published on 01 June 2004

INNOVATION in Britain is on the slide, according to a leading Cambridge technology consultancy which says we are falling behind while America and Germany race ahead.

Simon Davey, CEO of Scientific Generics at Harston, warns that unless the UK gets its act together via more effective collaboration between the universities and industry, the Government's hopes for the so-called "knowledge economy" could become no more than a pipedream.

Martin Frost, managing director of holding company, Generics Group, says that over the past five years his firm's revenue from the UK has dropped by 10 per cent to 40 per cent of total turnover, with more and more business coming from the US and Germany.

"R&D spend in Germany has been far higher than in the UK over the last 10 years," he said.

Dr Davey said: "I hate to think what is happening is going to be long term as I am absolutely convinced there is going to be huge innovation competition between west and east and that this is a contest we must win."

He said that although there were many initiatives in place to improve networking between universities and industry in the UK, they were not working well enough as a whole.

"For example, I would find it very difficult to make contact with six or seven experts from Cambridge University within a week.

"There is still no clear and successful method of bridging the gap between universities and industry, in fact it is no better than it was 20 years ago."

Meanwhile, China is creating thousands of technical universities, which, Mr Frost said, would pose a significant challenge to Cambridge.

Generics, recently recovered from a shortage of cash and seemingly back on form, is planning to do its bit by running a series of innovation events around the UK. The company is also recruiting again and plans to take on 20 consultants before the end of the year, although many will be operating in the US and Germany.

[grupo guitarlumber] 09/6/2004 17:16

RNS Number:6036Z
Generics Group AG
09 June 2004


For immediate release
9 June 2004
The Generics Group AG ("Generics" or the "Company") - Results of Rights Issue

NOT FOR DISTRIBUTION OR TRANSMISSION, DIRECTLY OR INDIRECTLY, IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF IRELAND

Generics announces that by 11.00 am on 7 June 2004, the latest time and date for
acceptance and payment in full for New Shares under the terms of the Rights
Issue announced on 2 April 2004, valid acceptances had been received in respect
of 98,193,594 New Shares, representing approximately 91.1 per cent of the New
Shares offered by way of rights.

It has not been possible to procure purchasers for the 9,580,806 New Shares for
which valid acceptances were not received at a price (net of expenses) in excess
of the Rights Price of 8 pence per New Share. Accordingly, the sub-underwriters
will be required to subscribe at the Rights Price of 8 pence per New Share for
those New Shares for which valid acceptances were not received. There are
therefore no net proceeds which fall to be distributed to Qualifying
Shareholders who did not take up their entitlements in accordance with the terms
of the Rights Issue.

Definitions used in the Generics prospectus dated 2 April 2004 (the
"Prospectus") shall have the same meanings when used in this announcement,
unless the context requires otherwise. All references to time in this
announcement are to time in London.

Enquiries:

The Generics Group AG [phone]
Martin Frost

Hoare Govett Limited [phone]
Sean Wegerhoff
Alex Garton

This announcement does not constitute an offer to sell, or the solicitation of
an offer to subscribe for or buy, any Nil Paid Rights, Fully Paid Rights or New
Shares to any person in any jurisdiction to whom or in which such offer or
solicitation is unlawful. Any Shareholder or other recipient of this
announcement in jurisdictions other than the United Kingdom or Switzerland may
be restricted by law and therefore persons into whose possession this
announcement or the Prospectus comes should inform themselves about and observe
any of those restrictions.

This announcement is not an offer for sale of securities in or into the United
States, Canada, Australia, the Republic of Ireland or Japan or to US Persons or
in or into any country outside the United Kingdom or Switzerland where such
distribution may otherwise lead to a breach of any law or regulatory
requirement. No public offering of the Nil Paid Rights, Fully Paid Rights or New
Shares will be made in the United States. The Nil Paid Rights, the Fully Paid
Rights and the New Shares have not been, and will not be, registered under the
Securities Act, under the securities laws of any state of the United States, or
under any applicable securities laws of Canada, Australia, the Republic of
Ireland or Japan and accordingly, unless an exemption under any applicable laws
is available, the Nil Paid Rights, the Fully Paid Rights and the New Shares may
not be offered, sold, transferred, taken up or delivered, directly or
indirectly, in or into the United States, Canada, Australia, the Republic of
Ireland or Japan or to US Persons or in or into any other country outside the
United Kingdom or Switzerland where such distribution may otherwise lead to a
breach of any law or regulatory requirement. Neither the US Securities and
Exchange Commission nor any US state securities commission has approved or
disapproved of the securities described herein or passed upon the adequacy or
accuracy of this announcement or the Prospectus.

Hoare Govett, which is regulated in the United Kingdom by the Financial Services
Authority, is acting exclusively for The Generics Group AG in relation to the
Rights Issue and is not advising any other person or treating any other person
as its client in relation thereto, and will not be responsible to any person
other than The Generics Group AG for providing the protections afforded to
clients of Hoare Govett nor for providing advice in relation to the Rights Issue
nor any other matter referred to in the Prospectus.



This information is provided by RNS
The company news service from the London Stock Exchange

END
MSCUKRBRSRRNRAR


Generics GRP(GEN)

[maxwellsdemon] 27/5/2004 15:43

This may be of interest to holders: the nill paid rights are listed under the EPIC GENN

For a quote :

[rambutan2] 24/5/2004 15:09

ll, its fully underwritten.
catella not allowed to do that.
way price has held up over recent months makes me think that gen have some support. do those in the know think that there is something good in the pot?

[loss-leader] 23/5/2004 19:13

so maybe that means that the only people who will take them up are Catella (?who committed to do so?) .. which means G only get half of what they asked for and stagger on. Share price falls .. and Catella buy the small number of shares that are left at a discount to take it private again. Maybe there is an opportunity ?sub 5p? just before C pounce?

[canford cliffs] 21/5/2004 11:16

Ok guys, whats the score on this rights issue - it seems to me to be same price as market, so whats the point of taking up the rights - any experts out there to advise?

[rambutan2] 20/5/2004 21:23

came across a couple of recent bits of news...

Generics firm award
Published on 14 April 2004

TECHNOLOGY for fluid removal from patients suffering congestive heart failure has won a major award in the US for a Generics' subsidiary.

Genesis Medical Technology Inc, part of Harston-based Generics Group, designed core digital electronics and software for System 100, an innovative ultrafiltration system made by CHF Solutions Inc.

It is System 100 that has won in the 2004 Medical Design Excellence Awards.

John O'Mahony, R&D vice president at CHF, said: "We are honoured to be recognised by the MDEA judges and it is a well-deserved accolade for Genesis Medical, which has proved to be a reliable and innovative partner in this project."

System 100 is thought to be an excellent alternative to highrisk intravenous drug therapy and is now being used in a number of hospitals.

Mr O'Mahony said the new system was well positioned to change dramatically the way in which fluid overload sufferers would be treated in future.

Genesis Medical is based in Baltimore.


and (which i hold high hopes for)...

National ID cards: The Generics Group responds
Published on 04 May 2004

DAVID Blunkett outlined his plans for biometric ID cards in a draft bill published last week. The Government plans to incorporate facial recognition data, iris scans and fingerprints onto the card to confirm the identity of the individual.

While there are visible benefits, most notably protection against terrorism, concerns have been raised regarding the civil implications of the proposed scheme. The Shadow Home Secretary, David Davis voiced his concerns: "We have got to make sure that it is a proper balance of a weapon against terrorism but also one which pays proper service to civil liberties."

Conventional biometric technologies are based around matching the individual's biometric against a reference template that is stored either on the ID card and/or in a central database. The storage and use of this data is key to the civil liberties debate.

Reducing fraudulent claims on social security benefits is one thing, but what happens if this database falls into the wrong hands? Many people are uncomfortable with the notion that surreptitious monitoring of their biometric data can be used to strip them of their anonymity. The concern is that the dawn of the biometric age may inadvertently herald the death of privacy.

The Generics Group is pioneering the next generation of biometric technologies that remove the need to store biometric data. The approach uses novel signal processing techniques to generate a repeatable number directly from the biometric source such as fingerprint or iris. This approach offers the potential to combine biometrics with wellestablished cryptography solutions to validate the biometric, and hence without the need to store individual biometric data.

Previous attempts to generate a repeatable number directly from the biometric have been limited by the size of the number generated and hence its use as a unique identifier of the individual. What is most distinctive about the Generics approach is the use of noise reduction techniques that enable performance that meets or even exceeds conventional biometric technologies.

This 'zero storage' approach directly addresses many of the privacy concerns around the inappropriate use of biometric data. The approach also removes the need to protect the stored data reducing the complexity and cost of the system.

This approach offers an interesting alternative to the current debate around the societal implications of using an individual's biometric to confirm identity.


finally...

Published on 18 May 2004

FORMER joint managing director of Stewart Grand Prix Formula 1 racing, now Jaguar Racing, John Greaves, has joined Generics Group at Harston as business development director.

He has also been managing director of Dyson Research and his consulting experience includes nine years with PricewaterhouseCoopers where he specialised in R&D implementation and business change programmes.




 

[maywillow] 20/5/2004 10:21

LONDON (AFX) - Generics Group AG first quarter to March 31 2004
Sales - 4.15 mln stg vs 3.33 mln
Pretax loss - 554,000 stg vs loss 4.06 mln
Loss per share - 0.3 pence vs LPS 3.3

vjt/

[waldron] 20/5/2004 09:00

RNS Number:8871Y
Generics Group AG
20 May 2004



20th May 2004

THE GENERICS GROUP AG ('GENERICS')

FIRST QUARTER RESULTS 2004

Generics, a leading integrated technology consulting, development and investment
organisation, today announces its results for the quarter ended 31 March 2004.

Highlights:

*Turnover increased by 24% to #4.1m (Q1 2003: #3.3m), including an
increase in fee income of 18%, helping to show a return to profit in
consulting and intellectual property exploitation
*Operating expenses reduced by #1.0m to #5.6m (Q1 2003: #6.6m)
*Group retained loss reduced significantly to #0.4m (Q1 2003: loss of
#3.6m) after expensed development costs in spin-out and associated companies
of #1.5m (Q1 2003: #1.7m)
*Sale of Sensopad Technologies Ltd to a subsidiary of TT electronics plc
for an initial net cash consideration of #1.0m
*Substantial development contract and multi-million licence deal signed in
respect of Autosheath™ needle stick prevention technology
*Successful spin-out of CMR Fuel Cells Ltd
*Period-end portfolio valuation of BVCA #10.8m (Q4 2003: #11.1m) post sale
of Sensopad Technologies Ltd.
*One-for-one Rights Issue announced on 14 April 2004 to raise
approximately #7.3m net of expenses
*Net assets per share of 13.1p per share (Q4 2003: 13.6p) before taking
into account the BVCA portfolio valuation uplift equivalent to 6.1p per
share (Q4 2003: 6.5p)

Gordon Edge, Generics' non executive Chairman, commented:

"I am pleased to announce that the steps taken to improve the performance of the
business are now demonstrated in the results for the first quarter. We have
succeeded in growing turnover by 24% at the same time as reducing underlying
costs by over #1.0m. The results include the initial #0.3m consideration
regarding the licence of Autosheath with further payments anticipated over eight
years. This is included within the turnover of consulting and IP exploitation
which has broken even in the first quarter.

Within our investment portfolio, we completed the sale of Sensopad Technologies
to TT electronics plc, with future royalty income anticipated over the next 6
years. In addition we have created a new Company, Sensopad Ltd, and assembled a
new team to exploit the non-automotive applications of the same technology. We
were also pleased to announce at the beginning of the quarter the creation of
CMR Fuel Cells Ltd with Carbon Trust and Conduit Ventures as partners.

Finally, I am delighted to see the confidence of both existing and new
shareholders in our business model demonstrated by their participation in the
Rights Issue. This is now unconditional and will complete in June 2004."

Enquiries:

The Generics Group AG (44) 1223 875200
Martin Frost www.genericsgroup.com
Gordon Edge

[waldron] 20/5/2004 08:56

LONDON (AFX) - Generics Group AG reported a sharp narrowing in retained
losses for the first quarter to March, as turnover rose 24 pct.
"I am pleased to announce that the steps taken to improve the performance of
the business are now demonstrated in the results for the first quarter,"
non-executive chairman Gordon Edge said.
"We have succeeded in growing turnover by 24 pct at the same time as
reducing underlying costs by over 1.0 mln."
Group retained loss reduced significantly to 0.4 mln stg from a loss of 3.6
mln after expensed development costs in spin-out and associated companies of 1.5
mln, compared with 1.7 mln.
The company also said there is evidence of improvement in each of Generics'
areas of activity.
With a reduced fixed cost base, the group is better able to benefit from the
improvement in each of its markets, it said.
[e-mail]
rf/

[canford cliffs] 06/5/2004 17:14

rambo - could you please summarise the terms of the rights - and how are peeps shares in nominee a/cs effected?

[rambutan2] 06/5/2004 16:18

rights issue got passed yesterday. check your dates.