Lombard Medical Technologies Share Discussion Threads

[nod] 24/3/2013 02:57

Somebody posted a few days ago. I also saw it here...

[multiplural] 23/3/2013 13:48

do you have a link to canaccords analysis?

[nod] 23/3/2013 09:10

Canaccord's target of 332p looks very encouraging.

[glasswala] 22/3/2013 13:18

A blue day.....hip hip hoorah!!

[rayrac] 22/3/2013 11:11

Just added 5k. Not the best price, but I still think it's made in heaven. ;-)

[skinny] 22/3/2013 09:59

Canaccord Genuity Buy 186.00 186.00 332.00 332.00 Reiterates

[nod] 22/3/2013 09:39

Okay, that confirms Invesco's holding is the same as a year ago.

[skinny] 22/3/2013 07:22

Admission of shares issued in relation to the Second Tranche of the May 2011 Fundraising

London, UK, 22 March 2013 - Lombard Medical Technologies PLC (AIM: LMT) is pleased to announce that, further to the announcement made by Lombard Medical on 19 March 2013, admission of 10,040,000 ordinary shares of 20 pence each, being the total number of ordinary shares being issued under the Second Placing and the Second Subscription, has today taken place.

Following allotment and admission of the new ordinary shares, the Company's largest shareholder, Invesco Asset Management Limited managed funds now holds 39.5% of the issued share capital of Lombard Medical.

Definitions used in this announcement will have the same meaning as those used in the circular of Lombard Medical dated 20 April 2011, unless the context requires otherwise.


- Ends -

[flavio_monteiro] 21/3/2013 19:01

Flavio_Monteiro 20 Feb'13 - 09:57 - 1542 of 1594 0 0 edit

Gap Up needs filling before rise up Guys

[glasswala] 21/3/2013 16:54

Continues its downward trajectory.

[munkychunky] 21/3/2013 09:51

gap filled now, just like some poster said it would a few pages back.

[shorewalk] 21/3/2013 08:55

Being walked down on no volume. Needs to stay above the recent trend line.Just over two weeks to results, which will tell us the uptake in Europe and give a guide to US future.

[nod] 19/3/2013 20:08

Remember also that we all had the opportunity over the past two years to buy shares at much the same price as these qualifying investors and the employees who stumped up several million quid at 140p - 0.7p old money. My average is not much more than these guys who took much bigger risks than I did. They deserve their profits although in the interest of equality and fairness I would have liked to have seen open offers to shareholders.

[shorewalk] 19/3/2013 16:48

Glasswala,

In answer to your question - the FTSE is up by nearly that much. What I find strange is that with the approval and ready market for product we are slowly dropping. The concern is that a predator makes an offer based on a premium on a low price rather than the return that is emminently available.

[stable] 19/3/2013 15:35

Glasswala, please dont forget that on the other hand, without this support we could well have run out of money before approval and we could have ceased trading.
Let us wait and see what those that have financed Lmt over the last 5 years are going to do, my guess is that they are waiting for a much higher price than is being seen currently and we might get news early April when results will be given. I will be away at that time so most likely not able to operate.

[glasswala] 19/3/2013 15:06

Not bad a 30% gain on £14.1 million (i.e about £4m) Where the hell are you going to get such an increase in this market.
Is there a tie up provision or can these be sold on the open market sraight away?? If so this will definately make it more liquid but also it is diluting us existing shareholdes big time!!

[skinny] 19/3/2013 13:10

Admission of shares issued in relation to

the Second Tranche of the May 2011 Fundraising


London, UK, 19 March 2013 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical technology company focused on innovative vascular products, is pleased to announce that application has been made for 10,040,000 ordinary shares of 20 pence each, being the total number of ordinary shares being issued under the Second Placing and the Second Subscription, to be admitted to trading on AIM. Admission is expected to become effective on 22 March 2013. Proceeds of this share issue will be c. £14.1m before expenses.

The Second Placing and the Second Subscription constitute the second tranche of a two tranche issue of equity by Lombard Medical to raise up to £25.3 million (before expenses) and comprising a Placing, Subscription and Offer first announced by Lombard Medical on 20 April 2011. Further details of the Placing, Subscription and Offer were set out in the announcements published by the Company on 20 April 2011 and 25 May 2011.

Definitions used in this announcement will have the same meaning as those used in the circular of Lombard Medical dated 20 April 2011, unless the context requires otherwise.

- Ends -

[nod] 13/3/2013 20:19

LSP's price was set at 140p for 2 million shares. It's not clear to me whether they can or will participate in a larger offering. I don't see why not if the price is right.20 December 2012Press InformationLombard Medical Technologies PLC("Lombard Medical" or "the Company")Extension of Long Stop Date for Second Tranche of May 2011 FundraisingLondon, UK, 20 December 2012 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical technology company focused on innovative vascular products, today announces a six month extension, from 31 December 2012 to 30 June 2013, of the existing Long Stop Date for the c. GBP14.1m Second Tranche of the two tranche placing and subscription announced by the Company on 20 April 2011 (the "May 2011 Fundraising"). Lombard Medical also announces that, in addition to certain existing shareholders, the Second Tranche will be supported by LSP Life Sciences Fund N.V. ("LSP"). LSP will replace MVM Life Science Partners LLP ("MVM"), who have decided to assign their rights to subscribe for new ordinary shares in the Second Tranche, pursuant to the terms of the original subscription agreement dated 20 April 2011.Lombard Medical received a clean Good Manufacturing Process (GMP) audit of its UK manufacturing facility by the FDA in October 2012 and while approval remains possible before 31 December 2012, any approval process with a regulatory authority, such as the FDA, can be subject to delays beyond the control of the applicant. Therefore, the Board considers it prudent to extend the existing Long Stop Date to 30 June 2013. Should FDA approval of Aorfix(TM) fall into early H1 2013, the extension of the Long Stop Date will ensure that the Company has sufficient resources, following receipt of funds from the Second Tranche, to launch Aorfix(TM) in the U.S. Aorfix(TM) will be launched through its own direct sales force to be recruited by the Company.LSP is one of Europe's largest specialised healthcare and biotechnology investment firms with offices in Amsterdam, Munich and Boston. In view of LSP's specialist healthcare focus and international reach, the Board welcomes its support and participation in the Second Tranche. LSP's presence in the U.S. is particularly relevant given the strategic importance of this market for the Company going forward. LSP will replace MVM, who have decided to assign their rights to subscribe for new ordinary shares in the Second Tranche. MVM remain supportive of the Company and will continue to hold a seat on the Board. On the satisfaction of the Second Tranche Conditions, LSP will subscribe GBP2.8m for 2.0m shares, assuming a Second Tranche subscription price of 140 pence per share, representing 6.6% of Lombard Medical's issued share capital as enlarged by the Second Tranche of the May 2011 Fundraising.The Company expects that FDA approval of Aorfix(TM) will include an indication to treat patients with angulations at the neck of the aneurysm of up to 90 degrees. This would make Aorfix(TM) the only AAA endovascular stent graft to have this high angle indication in the U.S. Funds from the Second Tranche will ensure the Company has sufficient resources to launch Aorfix(TM) in the U.S. In addition to building the U.S. sales and marketing infrastructure, funds from the Second Tranche will also be used to expand production capacity to meet anticipated demand for the Aorfix(TM) stent graft, complete the planned extension of stent graft sizes and develop the next generation, lower profile delivery device. The funds will also be used to redeem the full amount of the GBP3m Convertible Loan Notes issued to Invesco Asset Management Limited ("Invesco"), to the extent that Invesco has not already converted, or indicated its willingness to convert, the Convertible Loan Notes.Additional funding will subsequently be sought to allow the Company to achieve its longer-term goals in this important market.Simon Hubbert, CEO of Lombard Medical Technologies, commented:"We welcome the support of LSP, one of Europe's largest specialised healthcare and biotechnology investment firms, which signals their confidence in Aorfix(TM) . We are also pleased our shareholders, in continuing to support the Company, have ensured that we have sufficient resources to launch Aorfix(TM) in the U.S. even in the event that approval of Aorfix(TM) slips into H1 2013."We have made significant progress in recent weeks including the successful FDA audit of our UK manufacturing facility, and continue to expect the near-term approval of Aorfix(TM) . A broad label that specifically includes treatment of patients with more tortuous anatomies and having angulations of up to 90 degrees, would uniquely position Aorfix(TM) in the U.S., the largest endovascular repair market for Abdominal Aortic Aneurysms."Geraldine O'Keeffe, Partner LSP, commented:"With its primary focus on innovative healthcare companies in Europe - LSP has been following with interest the progress of Lombard Medical for a number of years. We are delighted to be afforded the opportunity to invest in the Company at such an exciting stage in its development."-Ends-

[bbluesky] 13/3/2013 18:47

Can't see the point of a one product dedicated saleforce given the expense myself. Underpins it, but can't think it is in management's interest (product development the driver?) or for that matter holders. There must be people in the market pressing the flesh who would love a new angle and they would have it here!!

[glasswala] 13/3/2013 15:47

Stable, Ah but you forget that the price the share is placed for the second tranche will determine how many new shares get issued. If as you stated previously £1.82 per share then this will mean about 8 million more shares if the price is lower the number of shares increase hence we are diluted more at a lower price than at a higher price.
This means we are at the mercy of one large shareholder who will probably have a greater say then us smaller PI's with management. We do not know the agenda of this new shareholder so this could or could not bode well!!! We will just have to wait and see.

[stable] 13/3/2013 14:35

Glasswala, all this that you concern yourself with has been known for 12 months,
what we dont know is the need for funding for the usa market, something i am sure the management has been working on for many a day. The fact that I am expecting news, other than end of year figures 9th april, not too long to wait. Still waiting for Japanese approval which could be wealth creative.

[glasswala] 13/3/2013 12:46

Thanks Shorewalk. No hidden agenda just wondering what pricing of new shares and the dilution effect. Presently share price stable. We will know shortly as only a month away!

[shorewalk] 13/3/2013 12:28

Glasswala,
I re-iterate the price was agreed at the placing one year ago that the second tranch would be at the mid price on the day before the anouncement of the aproval.
We have not been advised that anything has changed. Based on that days share price this would be at an almost insignificant discount to todays share price Do you perchance have an agenda with your comments?

[glasswala] 13/3/2013 11:23

As i said the shares will be offered at a much lower price than todays price which will result in the shares being driven down as no institutions will wants to pay more than the placing price as well as heavy dilution of existing shareholders

[skinny] 13/3/2013 10:35

Satisfaction of FDA Milestone Requirements
for the Second Tranche of the May 2011 Fundraising


London, UK, 13 March 2013 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical technology company focused on innovative vascular products, announces the determination of satisfaction of the FDA Milestone requirements for the Second Tranche of the two tranche placing and subscription announced by the Company on 20 April 2011 (the "May 2011 Fundraising").

This determination is the trigger for the transfer of the £14.1m Second Tranche subscription monies and the application for admission of shares on the London Stock Exchange both of which are anticipated by the middle of April 2013.