Healthcare Locums Share Discussion Threads

[bill182] 04/3/2013 12:03

Email today:

Dear All,

As you will be aware, the deadline for a formal offer is Wednesday 5pm, 06 March.

In anticipation of this deadline please continue to direct minority shareholders to get in touch at this email address ([e-mail]) to register their interest.

With Regards,
No to HCL Offer Campaign

[dusseldorf] 04/3/2013 08:19

...the fat lady has certainly not sung yet

[purav] 03/3/2013 19:07

Tosca is an opera by Puccini. It contains depictions of torture, murder and suicide. Funny name for a fund.

[bill182] 01/3/2013 14:51

begorrah88 - my sentiments as well. This looks like an orchestrated campaign by Tosca et al.

[dusseldorf] 01/3/2013 14:50

begorrah88 - Indeed, the complete pancake chart formation indicates a level of inside knowledge of one shape or form is controlling the price - of course if they were linked to the concert party it would be illegal, but given the lack of transparency in holdings below 1% nothing can be proven. That said, if the company announced they are included as an operator under the new framework there should still be a positive price reaction.

[begorrah88] 01/3/2013 14:34

maybe the '90000 only off the book' seller is a little more involved than just a seller.

I see no reason for those sells to always hit the book bid price other than ensuring the bid stays below a certain levelo.

[bill182] 01/3/2013 13:32

Graham1TY - they will not want the pesky minority shareholders getting the benefit of an increase in value of the company. What's the bet they will come back on Wednesday and offer a circa 50% improvement on their indicative offer and tell everyone they are getting a great deal!

[dusseldorf] 01/3/2013 13:20

The few I hold I'd be happy to keep if it was taken private. in a turn around situation, which is almost guaranteed by cash injection and framework agreements, the company has to be worth a 10x multiple of current price in say 2 years.

Short-term given my entry point if there was an offer 1 - 2p I'd probably be out.

[dusseldorf] 01/3/2013 11:08

What is the minimum %'age required for a binding offer? is it 90%?

Hmm looks like :"where, pursuant to a takeover which has become wholly unconditional, an offeror has received valid acceptances in excess of 75% of each class of AIM securities."

If that is the case concert party only require 2.5% equity, which would be easy to obtain in market (simply buy stock from MM's that they keep on books to balance market). I do get the feeling this whole thing has been orchestrated to a certain extent.

UPDATE:

Found this bit: "The bidder must obtain acceptances from 90% of shares to which the offer relates to effect the statutory compulsory acquisition"

Still not clear whether the figure is 75% or 90% can anyone enlighten? it makes quite a difference here....

[graham1ty] 01/3/2013 11:05

A competitive bid would not have a chance unless Tosca got its money back. I am suprised that there has not been a trade buyer wanting a chunk of the action at these levels. buy 5% in the market. Either hold on for recovery ( and Tosca are not a long term holder, so get a foot in the door, to buy them out later) or use leverage to get bought out in a bid at a higher level.....would cost very little, for little risk, with lots of upside.

[dusseldorf] 01/3/2013 09:36

I think the outcome of next week is largely dependent on whether the framework agreement outcome is communicated to participants this week as inferred in an earlier post. The framework participation will significantly affect the valuation of the company (IMO), without it, concert party IMO would bid around current levels. With it (assuming HLO are in there) could potentially be a much higher offer (closer to 2p or higher) or in fact a competitive bid situation. Competitive bids have effectively been blocked by the size of concert parties holding however, cannot be ruled out.

[bill182] 01/3/2013 09:27

Graham!TY - I certainly concur with your thoughts on the lack of news flow and the decision by the Board to remain quiet on the indicative minimum offer.

If the shareholder who sold their large stake which drove the share price down had not done so and the recent positive news had been released via an RNS, I am sure the share price would be above the 2.00p price level today.

Let's see what the company has to say when Tosca issue their next statement next Wednesday.

[bill182] 28/2/2013 15:14

xow98 - I think we need to see what the offer is before you can test the opinion of the minority shareholders. At least there appears to be a 'voice' for the private investor.

[xow98] 28/2/2013 14:47

Perhaps its time for "No to HCL Offer" to come out of the closet. Difficult to generate any momentum if you don't share your progress.

[bill182] 28/2/2013 14:34

Yes, it is getting closer to decision day. I wonder if we will see many shares changing hands before Wednesday.

Can't believe they will get away with buying the company at anywhere near the current share price!

[begorrah88] 28/2/2013 14:18

That's the 90000 seller I was talking about the other day.

Odd though that his sells only ever come off the book.

Other sells are fielded by the rsp yet mr 90k only ever sells off the book, wonder why that is?

[loverat] 27/2/2013 18:13

You might see this now - good news not being released to the market.

[bill182] 27/2/2013 09:01

A bit of buying this morning.

Surprised there are no comments on the Worcestershire Acute Hospitals Trust launch of HCL Clarity yesterday. This should have been announced via an RNS as I see it as a significant contract.

[bill182] 26/2/2013 17:39

With thanks to P-dub on another thread:

New Framework Announcement

The much delayed new framework announcement is due to happen this week, with a "go live" date of April 1st, although frustratingly GPS have managed to get to about 9 months of accumulated delays! To be clear individual companies should be informed this week, the full list may not be announced for a few days/weeks.

In my view this is the crunch point for the company, if they get on the new framework, which is very likely, they have a good future.

Whether that is reflected in the share price or the offer price is another matter.

My view on the offer is that the majority owners of the company want to pick it all up on the cheap if they get on the framework, and have a get out and will withdraw the offer if they do not get on.

[bill182] 26/2/2013 17:32

This is the sort of information which is not being reported:

Worcestershire Acute Hospitals Trust launches HCL Clarity

London, 25 February 2013 – Innovative workforce management platform, HCL Clarity, has launched at Worcestershire Royal Hospitals Trust today.

Worcestershire Acute Hospitals Trust, which has an annual health budget of about £320m, is facing a series of significant financial challenges to provide sustainable services to its 570,000 residents.

HR Director Bev Edgar says the Trust needs to find £50m savings over three years as part of the £200m efficiency target for Worcestershire as a whole.

"Our Trust's three sites, Worcester Royal Hospital, Kidderminster Hospital and Treatment Centre and the Alexandra Hospital in Redditch, will be working in partnership with HCL to meet these resourcing challenges in respect of middle grade and specialist doctors. This collaborative pilot will reduce our cost of agency staffing and deliver efficiencies and allow us to reinvest those savings into patient care." Ms Edgar said.

Worcester Acute Hospitals Trust carries out more than 95,000 planned and emergency operations each year, with 140,000 A&E attendances and 500,000 outpatient appointments.

HCL Workforce Solutions Chief Executive Stephen Burke confirmed HCL Clarity goes live today, adding HCL is delighted to be adding value.

"The Trust is currently working towards becoming a Foundation Trust and a key element of this goal is to identify innovative ways to deliver efficiency savings without compromising patient care. HCL Clarity delivers this and more," Mr Burke said.

HCL Clarity is a managed service which controls and streamlines the entire temporary worker process from start to finish, taking the agency staff headache away from Trusts.

"We developed HCL Clarity specifically for the NHS – we know trusts want to regain control and reduce costs in the face of their £20bn savings target, and with staffing costs accounting for nearly two thirds of the NHS annual budget it's clear to see HCL Clarity's potential to deliver huge savings without affecting front line services." He said.

[bill182] 26/2/2013 16:16

Yes, the deadline is 5.00pm on the 6th March. Of course, we could hear before then!

[begorrah88] 26/2/2013 15:22

bill

Thanks for the summary

I am very familiar with SETS but was highlighting that 2 quite unique shapes regularly get thrown at it. The 250000 and the 90000.

[dusseldorf] 26/2/2013 15:18

bill182 - The concert party haven't yet suggested any bid level, just that it would be at least the closing market price of day prior to announcement. I guess there will be more to talk about next week (Wednesday)