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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Healthcare Loc | HLO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.75 |
| Top Posts |
|---|
Posted at 19/4/2013 06:38 by begorrah88 The woman has skin as thick as a rhino!She does receive very sympathetic press condisering what she did at HLO and was dismissed for. Many papers would be holding her up as evidence of everything that is wrong with corporate greed and misleading investors but some treat her with kid gloves given her propensity for suing. Did she get her finances back in order or is her livelihood dependant on getting some money out of the company? last I read was that she owed money all round. |
Posted at 16/4/2013 08:29 by graham1ty Agree, but if trading deteriorates further before the actual formal offer document comes out and they realise that will cost £20m not £10m, then more bad money after bad might be too much. litigation allows them a get out of jail card if they wish to withdraw.I would love to see the Tosca investment reports to their shareholders: "by the way we have lost £50m of your money in a dog.....and propose putting another £10m in!" As another aside, with HLO in the state it is, the Banks will want repayment as soon as possible. Every penny of cashflow for the next five years is going to be used paying down the banks. |
Posted at 15/4/2013 15:46 by graham1ty Agree re getting rid of holders like KB. I am still staggered there is no "noise" from KB or CT. Why they not all over the papers ( using KB's reputation to get the article planted) saying this is opportunistic and lousy offer ?Should have been the job of the No to HCL campaign to get it into the market place ( ie to Tosca) that 0.75p would make noone happy, but for a few quid more, would get people out wth at least some pride !! Or CT to repeat his comments of a month or so ago. re keeping y holding, there is a real danger that the next share issue ( to get the £10m into the Company) will be done as the last one, at a massive discount ( ie a billion shares at 0.1p) which is non-preemptive ( ie shareholders cannot take up their rights) so that remaining shareholders are left with nothing. I think there would be a real risk to holding on for the HLO recovery. The offer doc talks of remaining holders suffering significant economic dilution |
Posted at 15/4/2013 13:17 by graham1ty Thought for the day.....When the great white knight Tosca rode into town in August 2011, the impression given was of an enormous, probably American hedge fund, a KKR, a turn around specialist. Look at the offer document we have. Tosca has only £1bn under management. Within this Tosca Opportunity has $332m ( yes they quote one in £ and the other in $). So Tosca put in £36m in 2011 PLUS the cost of their original stake. They had 15% in the 2009 HLO accounts when the price was over 100p and there were 114m shares in issue.....so say they paid 100p for their shares, that would be an initial investment of c £15-20m. TOTAL investment of the order of £50m. That is 5% of FUM.....gone......di This was massive for them and they have lost a huge chunk of FUM. Even a cash investment of another £10m is c 5% of the whole Tosca Opportunity Fund. What a hit to the performance of Tosca. And why did they put another £36m ( ie c 4% of FUM into one Company ??) |
Posted at 12/4/2013 10:21 by jojo_jo Dusseldorf, try ISDX. There is a sale showing there today. Have put some limit sell orders in at the offer (0.75p). Otherwise I'll wait for a cheque from Tosca&Co. Discovered just that Jupiter did a form 8 disclosure just days ago (8/04/13). Very late, for some reason, and not very openly announced. I assume it was within the permitted timeframe? I expected 1p. That would have been fair, and affordable considering HLO have close to £9m cash. They got the company for nothing, although admittedly they are over £50m under water. Unlike a lot of private investors they can, over time, recoup those losses. I wonder what, if anything, is in it for Jupiter? They may be offered a 'compensatory' stake in the new private company and also eventually be able to recover their losses. IMPO/DYOR/NAI Jo |
Posted at 11/4/2013 09:30 by jojo_jo The banks need HLO to trade their way through this, as do Tosca&Co. It is in all stakeholders interests. Tosca&Co have already volunteered a cash injection, and relatively little is required (perhaps £5m) to satisfy covenants. HLO have more cash than that (c.£9m at the last count). The banks would like a warrant 'sweetener', and one exercisable at 4p/5p shouldn't be a problem. I don't know how many banks are involved, but that could be half the problem (... just one of them holding out for more). Perhaps some would prefer the transparency/governa HLO have a very experienced banker at the helm here, so they have the know how. Tosca&Co have to keep control and ensure survival and recovery to get their money back. They should over time get all of it, and more. They haven't much choice, but would like full or very near to full control of the company. Minimum 85% I'd say, ideally 100%. The BOD have seen Tosca&Co's proposal, so given the time they've had the deal must be done. I can only assume this final little delay is little bits of legal smallprint the solicitors are ironing out. We all know how finnicky some of them can be, just buying a house. We'll know soon enough. IMPO/DYOR/NAI Jo |
Posted at 09/4/2013 20:38 by jojo_jo Who cares? Nothing anyone posts here will make a blind bit of difference! They successfully locked the price at this level on Feb.6th. I agree everything has been kept very close to the insider 'community' chest. I guess only a couple of officers in each camp are privvy to the information, and the BOD is clearly very wary of any wrongdoing after the history here under KB. There would be little mileage in dragging it out longer, as any improvement at HLO could increase its value/price. There is considerable kudos in being stockmarket listed. That makes me wonder if they may have engineered a way of holding nearly all the shares (eg. 90%) and staying listed. I understand companies have until 2014 to conform to the 25% free-float threshold, so they could take 'virtually complete ownership' for about 12 months, in which time they could get it back on track. They could then sell some of this increased holding at a premium early next year, and still retain control with 75% (similar to now). The only other way they can recover their capital is by re-floating sometime in the future. They could recover it over time through retaining profits, but a flotation would give them both profits (via dividends) and capital (shareprice) gains. Accordingly they could pitch a cash offer acceptable to the vast majority with an option for bigger, seriously under water holders like CT and Jupiter to recover their losses too over time by staying invested. This or something similar is a possibility. Anything that avoided privatisation would be hugely share price positive, regardless. Just thinking aloud. Que sera sera. IMPO/DYOR/NAI Jo |
Posted at 02/4/2013 18:22 by jojo_jo Anything is possible, but I don't personally see another extension. There's not much point for Tosca&Co. It's not going to cost them much in real terms to acquire HLO, and an improvement in conditions at HLO going forward could increase its value/cost. I notice the NHS is crying out for more specialist staff in some areas, eg. Midwives. I'm happy to wait. In fact I'll buy more if that turns out to be the case, as I expect a big improvement in prospects for HLO. Accordingly this (tomorrow) may be Tosca&Co's last opportunity to get HLO for less than 2.5p/share. As I said, not much point in speculating. We'll know their plans tomorrow. IMPO/DYOR/NAI Jo PS. It's much harder to get a second extension (they have to ask the Takeover Panel specifically and give good reason). It's nigh impossible to get a third under the 'code'. From their last RNS: "The Company has today, with the consent of the Panel, agreed to an extension of this deadline under Rule 2.6(c) of the Code until 5.00pm on 3 April 2013. This revised deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code." |
Posted at 06/3/2013 15:56 by jojo_jo I wonder who the big seller was who collapsed the price with the c.40m share dump in early February. I thought it was Jupiter, but their holding hasn't changed according to HLO's website. I can't see it having been your typical short-seller at the prices sold, which have never been reached (and so currently out of the money), and who could lend them 40m shares anyway? Tosca&Co still have their holding intact it seems. Jupiter may have another day or two left to advise of their threshold crossing (below 5/4/3%), but if that isn't confirmed soon I couldn't say who the seller was, suffice to say it could only conceivably have been via a stock loan to a short-seller. We'll have to if Jupiter announce a holding change in the next day or two. Yesterday's RNS implies a firm offer (at least 0.54p) is in the pipeline, together with additional capital (probably as/if required over the next few quarters). It's worth remembering that HLO have c.£9m cash, so they don't need any immediate money. Accordingly should things improve, as expected, and no further cash injection is required down the road, they could offer £8.5m for the company, pay £2.3m for the minority shareholders shares, get the company for free and have a cash surplus on the books of £6.2m following completion. That, or something similar, could well be the game plan. By a strange coincidence 848m shares x 1p = £8.48m, so is 1p the price they have in mind I wonder? It certainly fits... gets them a company with £8.5m cash in the bank for an outlay of £2.3m! Now that's a good day's work! They will probably offer to pay down the bank a bit quicker with their two companies/funds underwriting any security shortfall, or underwrite it in return for releasing any charge/security/debe Looks feasible. IMPO/DYOR/NAI Jo |
Posted at 05/3/2013 11:10 by begorrah88 You are quite right bill. They have to say one way or the other, however, having been invested in a few companies that like to 'interpret' the regulations literally when it suits them, it doesn't say that HLO have to make a formal announcement to the markets of the result of the Tosca interest.Tosca have to tell HLO but HLO are not bound, as this was not a formal offer, to tell the markets - you'd sincerely hope they will but I'm not particularly comfortable with how the board is behaving at present and I certainly don't get the impression that shareholders are their main concern. I expect nothing to be announced at all tomorrow as Tosca can inform them after the market closes tomorrow and still meet the requirements. Then some lame RNS Thursday morning saying 'the board will now make every effort to explore further opportunities and finance etc etc ......' 'In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the "Code"), Toscafund and ACE will have until 5pm on 6 March 2013 to announce either a firm intention to make an offer for HCL or that they do not intend to make an offer. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.' |
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