Gw Pharmaceuticals Share Discussion Threads

[ih_406638] 07/10/2016 07:01

And can we infer that between 9.12.16 and 1.4.17 he believes that he will still have GW options capable of creating GW shares, ie not shares of an acquiring company as in buyout?

[ih_406638] 07/10/2016 06:52

Hmm, trading plan really means selling plan. He is going to exercise some options and sell the shares, and does not want to be hindered by whatever inside info he has at the time. It does seem unreasonable to me.

[masingi] 07/10/2016 05:45

Justin must be in possession of material non-public information. I don't recall his tax affairs requiring execution of a trading plan before.

[123prezzie] 06/10/2016 20:21

altom. I understand that the Nasdaq listing doesn't disqualify GWP's IHT position because the US deals in ADRs, not straightforward ordinary shares.

I see Zaks Mir on procative investors is forecasting £10. A bit pessimistic, surely?

[ih_406638] 05/10/2016 18:47

Yes. We looked at this when the Nasdaq listing happened and it does not affect the IHT position. Apparently confirmation can be found on the Co website

[altom] 05/10/2016 18:43

Please tell me if I am mistaken. GWP is not eligible for IHT relief as it is also quoted on NASDAQ. Am I wrong ?

[zlotini] 05/10/2016 12:58

I was about to post this view – written in a word document- and then saw Random’s post. But I decided to post it anyway.

Greetings, especially to long-time posters and those I have met personally. I echo FF’s sentiments about the thread. Indeed, thanks to the superb contributions of several posters, I have been able to remain in touch, well-informed, about GWP’s progress and development without doing any research/work myself. It has worked well for me even though I only have a fraction of the holding I once had – given the current share price I can still reasonably happily celebrate the company’s seemingly great success.

After becoming deliriously greedy, acknowledgement to nodding, I find I have become somewhat puzzled (deliriously confused most probably) about the recent takeover stuff. This has prompted me to do a little digging which could well be wide of the mark because I have missed what is staring me in the face. I would much appreciate some enlightenment/guidance.

I can find no RNS about the supposed M&A reported interest, or for that matter the appointment of Morgan Stanley as an advisor, particularly related to this new development. Personally, I think management is correct to say nothing about rumoured/reported takeover interest from several companies. Assuming this is the case (rumoured) no official announcement/acknowledgement was necessary. If it is in fact the case that there are several predators on the prowl, given that there is more than one, there seemingly would be no need to announce publicly that one particular predator has pulled out as talks/discussions presumably continue with the others.

I assume that Morgan Stanley was appointed as M&A advisor. Is it possible that this appointment was, perhaps, just good business practice rather than because specific approaches have been made to the company?

By the way, Jim Cramer, the CNBC madman, a couple of weeks ago suggested that Gilead should acquire GWP.

On the share price front, is there really a big premium already built into the price because of heightened takeover interest? Only now is the share price back to previous US$ highs. Of course, it is much past its previous high in sterling terms, thanks to the pound’s Brexit plunge. But back then, investors still did not have positive confirmation of positive trial results.

Yes, US biotech shares have been a bit out of favour this year. On the other hand, the sector managed a rise of around 13%, one of the best performing sectors in the US market, in the last quarter despite Mylan’s share price dive. Moreover, no that one can necessarily rely on them, several analysts have set their price targets a bit higher than the current price and that is without accounting for a takeover premium.

[etarip] 05/10/2016 12:24

Many thanks to 1234Prezzie and nodding for your replies.

[ih_406638] 05/10/2016 10:47

Not hmrc -

hxxps://www.share.com/blog/2014/may/guide-qualifying-aim-companies-inheritance-tax-planning/

[123prezzie] 05/10/2016 10:43

etarip. I did say DYOR! I don't have HMRC ref but suggest you google bpr-iht roll-over where you will find several references. In particular

makes a clear statement which every manager of AIM-IHT portfolios should confirm. The important thing is not to be in cash at the time of death.

[etarip] 05/10/2016 10:05

123Prezzie:

You stated in post 8800 that:
"it is simple to carry any period of IHT exemption earned on the sale value of share 'A' prior to sale onto a new purchase of share 'B' (obviously 'B' has to be BPR qualifying).

Can you please give an HMRC/Government authority reference for this?

[arnu gutierrez] 05/10/2016 00:15

Analysts eyeing potential on GW Pharmaceuticals (GWP)

[samurai48] 04/10/2016 20:19

Support from Leerink this evening: PT = $162

Leerink resumed coverage on GW Pharmaceuticals PLC (NASDAQ: GWPH) in anticipation of FDA approval for Epidiolex. Analyst Paul Matteis expressed an Outperform Rating, and set the firm’s price target at $162.

Matteis primarily cited the FDA’s pending approval of Epidiolex, and the firm’s confidence in the drug as the reason for his bullish resumption of coverage.

Related Link: Exclusive: GW Pharmaceuticals Talks Epidiolex, Raising Capital & Growing Its Sales Force

The analyst stated a 90 percent probability for FDA approval following three positive Phase III trials.

Looking forward, Matteis is also optimistic concerning a global launch for Epidiolex, which is currently being administered to more than 1,000 children affected by Dravet Syndrome, Lennox Gastaut Syndrome and refractory seizures.

The stock traded recently at $132.80 after opening at $134.81.

Latest Ratings for GWPH
Date Firm Action From To
Oct 2016 Leerink Swann Assumes Outperform
Sep 2016 Morgan Stanley Maintains Overweight
Sep 2016 Cantor Fitzgerald Maintains Buy

[ih_406638] 04/10/2016 19:42

123, yes you are right. I had assumed that the acquiring company would be American and non-BPR compliant. I just wanted to remind people that their IHT relief could disappear rather quickly.

Neilrr, govt largesse does not extend to CGT tax relief on Aim shares. The usual rules apply. If you are elderly, or just don't need the money then you could transfer your shares to a trust along with the capital gain (trustees acquire the accumulated gain(s)). The gain could then be dispersed among the beneficiaries over time and thus mitigated. It would also crystalise any BPR tax relief.

[123prezzie] 04/10/2016 18:53

It seems to me that the UK market has been pushing the price higher most mornings and the US opening then stabilises things

[123prezzie] 04/10/2016 18:50

Nodding. You don't mention that it is simple to carry any period of IHT exemption earned on the sale value of share 'A' prior to sale onto a new purchase of share 'B' (obviously 'B' has to be BPR qualifying). In the event of a takeover in shares, the shareholder should sell before the deal goes through; if cash, then you can wait for the cash to arrive.. If you then invest the preoceeds in another AIM/BPR company, your qualifying time (well over 2 years for most of us in GWP!) can be carried over to the new holding. Don't die whilst still in cash, as the cash doesn't qualify. All this with the usual proviso that this is my opinion and DYOR. Hope my explanation is comprehensible.

[neilrr] 04/10/2016 15:16

nodding,

What do you reckon will happen re: CGT?

[ih_406638] 04/10/2016 13:50

So fellow UK shareholder, are you ready for a takeover, ie a cash purchase of your shares; or USA pharma shares in exchange for your GW's; or a mix of both? In any such case it is likely that you will lose your Inheritance Tax (IHT) relief: 100% after holding for two years. This could be a significant sum. The relief is relevant on death where the GW shares value would be excluded from the estate value for IHT purposes. It's also relevant to transfers between living persons.

Once the takeover has happened there is no going back. IHT planning needs to be done and actioned before the relief is lost.

I may sound like an advert but I am not selling anything.

[ih_406638] 04/10/2016 13:20

Thanks Etarip, that wpould be nice.

[etarip] 04/10/2016 11:45

nodding:

I trust that most posters here are looking forward to your early resignation.

[ih_406638] 04/10/2016 11:05

I am supposed to be doing my dreary day job as expected by my tolerant employer, and not gawping at the share price. But I am distracted. If the price keeps going up I shall have to do the decent thing and resign

[randompoint] 04/10/2016 10:34

Brexit bonus?

[ih_406638] 04/10/2016 10:29

The price looks abit high this morning. The Nasdaq closed at $132.6 so I would expect an open here of £8.62 (132.6/12 x 0.78). So at the mo we are notionally ahead of the Nasdaq. But it won't last