Share Name Share Symbol Market Type Share ISIN Share Description
Maelor Plc LSE:MLR London Ordinary Share GB00B2QBY649 ORD 70P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 100.00p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 2.8 -0.0 0.7 142.9 0.00

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Date Time Title Posts
06/7/201714:42Maelor PLC - Niche healthcare innovations or just extracting the urine?1,707
09/11/200711:52MLR has been overlooked53
22/10/200716:50Patent News27
08/10/200714:30Maelor - New Thread21
08/10/200714:30'Sir' CrazyCoops6

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gogoneko: All I see is an absence of argument for the "huge premium" claim based on any fact, i.e. nobody has disputed that the 10x pro forma EBITDA payment is too much - which is what MLR have used for their valuation. Simply putting forward a bunch of assumptive "what if" cases relating to the competitor suddenly deciding to squeeze MLR out of certain markets should be reflected in a risk factor in the share price, not the amount MLR should have paid. More "what if"s: What if Ferring decides that the market is too small to defend or has bigger fish to fry? What if regulatory approval for Haemopressin isn't given? Why does the £2m milestone payment only relate to "certain products" approval in UK, France and Italy only? Was that year's EBITDA an anomaly?, etc, etc. We're only going to know over time whether the amount paid was too much or not but I think the company is turning its back on PIs so with that attitude I'm never going to hold long-term. As quite a few others are questioning director motives the shares could drop as investors lose confidence/interest even though the company currently has a profitable and growing business even though it'll still be settling payments 4-5 years hence. The danger has always been though that the company would overpay on expansion and at the first sign of things not going to plan then the shares will be hit - so far, from a performance perspective, the company have delivered.
gogoneko: I'm not surprised that the share price isn't sinking that much as the company is increasingly looking in better shape with the addition of more profitable revenue streams and expanded markets. The trouble is that I expect quite a few don't appreciate that a minority of players are increasingly taking the majority of the riches. The company in my opinion is moving forwards as a business but leaving private investors behind. I really am eager to see how those who've given Maelor recommendations in the press cover the issue of dilution and the closed community for cheap shares issues - I expect that they'll avoid those areas, blame the lack of increase in share price on the credit crunch, and suggest "keep buying"!
pheasant1: This stinks. 5th April 2007, Maelor buys Acorus for £13.25m; Maelor NED Peter Murray is a major shareholder in Acorus. Deal funded by way of a highly dilutive private placing through Noble & Company; Maelor NED John Gregory is chairman of Noble VCT. 8th May 2007, Maelor board awards itself 8.4m options at 10 pence. 28th March 2008, Maelor announces that it intends to acquire SEPI AG for £14.25m; Maelor chairman Geoff McMillan is a major shareholder in SEPI. Deal to be funded by way of yet another highly dilutive private placing through Noble & Company, at a discount of more than 20% relative to share price on 27th March 2008; Maelor NED John Gregory is still chairman of Noble VCT. Why is it that Maelor is the only customer for Acorus and SEPI - both deadly dull clunkers with little future, IMHO. Why is it that the only funding route open to Maelor is private placings at substantial discounts to the current share price ?
steeplejack: I'm the first to admit that buying this stock 8 odd years ago was an obvious screw up but don't write off the benefits of the averaging down.Look at the chart of SLR.Silence Therapeutics fell off a cliff and hit the mid teens before recovering 10x in a year ,albeit it's back to mid 40s now.MLR is a very different from SLR of course. The key is to look at a company with fresh eyes.MLR might well be down some 90% from its peak but actually its up over 100% over the last eighteen months.Arguably this stock could slowly but surely climb back to the 40p mark over the next couple of years which makes it attractive to new investors.Stale bulls plus profit taking by entrants at the 10p mark will compromise the share price rise but bear in mind that if technical factors overly depress a price,a competitor could cut to the chase and take the company over if the fundamentals and valuation are acceptable. I'm not looking to sell.I'm looking to buy but agree there's no urgency in the current climate.
gogoneko: I reckon any board or PR company would be wasting their time/money trying to push up the share price with no-news or bluster if there's a very big seller in the market. For the share price to move I reckon the solution is for the board to find a home for the shares which Liontrust don't want. If they're not doing this it'd imply that they're happy with the share price at today's levels, if they are doing this then it's a poor reflection on the company and board that there's no confidence in their ability (as the placing was oversubsribed at just 10p) and things have gone very well since then - performance that their predecesors never delivered.
gogoneko: I hope that someone does approach MLR with a hostile bid at some nominal amount above today's share price to give management a boot up the backside. Previously I'd supported them for getting the support during the acquisition but I now reluctantly feel that they deserve to be undervalued for their assumed clumsiness in having given away big tranches on the cheap to weak holders. I cannot understand the actions of Liontrust - maybe there's a rule which says that it will be taxed punitively when the gains on investment exceed 40%. I also cannot believe that the management intended the share price to be trading at these levels after delivering an otherwise excellent performance to date. During the acquisition they clearly stated their intention to deliver shareholder value and so far that has failed to materialise as they have only delivered an increasing undervaluation - and to my knowledge that isn't what the investment community expects a company to achieve. At this rate we'll maybe have to wait for another 12 months before Liontrust have dumped the remaining 6m shares they hold for 14p so maybe by Jan 2009 we'll be leaving 15p behind! I also cannot figure out why another institution doesn't step forward to buy the remaining shares of Liontrust. Hmm, rant over!
1ch: gogoneko - agree - one very good set of results does not build a summer. However 'if' the same increase in turnover occurs this year as it did last year then as the preacher said people could begin to have faith, and faith could mean a better valuaion and share price. Remember though last year had they not just turned around into a small profit, so another good performance and who knows. The share price is again is creeping up - 1/2p today. Remember if my memory serves me rightly AMS is on a pe of 20, but with MLR there are no forecasted eps or turnover figures. If there is please post them. And 'if' the turnover again increases by was it 52% then we could see the share price nearer piruxi 50p target, although I would then say true valuation would be 39p. But first we need a second summer, and more so any increase in turnover of 52%, which may or may not be difficult to achieve.
trader_clive: Come on lads - MLR will tread water short term and may even drift a little. The share price predictions aren't going to be a quick kill situation - i.e. happen over night. I think piruxi estimates of the share price is for a years time after we know what this years profits are, which does depend on a good increase in business once again. This price of 50p may well be optimistic, however we could reach 21 to 28p but dependant on the 'momentus of higher turnvoer' being kept going. This is a must for an increase in share price I am in these, but I also have a stop loss price in mind to sell, as I am not prepared to see value drift away.
piruxi: OHH this is really fun, alidongo all I can say to you is, "well junior will you not have it before it comes, and when it does come what do your think will be in it? Just news of improved sales, new deals done all kinds of stuff that will either make the share price go up or down or just stay the same etc etc Unless of course you know better. The art of it all is trying to anticipate the news before it comes and that is where under the psychcie of the board comes in. We all come here expressing our views hopes an desires, none of which really are that important, what drives the share price up is good news, and you are ahead of the pack in anticipating such news and its you who makes money I wonder why you invest in stocks if you dont know the game plan and rules. Or have the patience to sit things out, let alone think things out. Or better still please tell me what exactly you expect from MLR and how you expect to get it? And of course why you are in it. You like us all are waiting for MLR to announce its done some good deals, improved its sales, has better figures than the last announcement and of course the share price has moved up accordingly. Hubby says that most PIs don't really grasp this factor and thats why they lose money, its just like the GEEGEES you must read the form and being home all day I do just that. 10/1 on MAELOR 50p year end. chwoocieee cooooooooo from Piruxi x
como114: Hastings, if you think that Mr McMillan's statement should be 'taken with a pinch of salt' it must then follow that the recent strategic review should also be taken in the same context, seeing as he was part of the team that helped to shape it? Perhaps my e-mail to Tim Wright, which I sent on 17th November 2005, might even enlighten you about some of the worries that many Maelor shareholders have. Mr Wright said that all my questions would be answered in a strategic review that the board were planning, and that the results would be published with the end of year figures. Having now read the review it doesn't look like he's going to answer any of my questions at all. Of course, you might suggest that I should just sit back and take it with a pinch of salt? Dear Mr Wright, While you, of course, are completely blameless for the disastrous freefall in Maelor shares, it is, however, likely that further plummeting is on the cards, or maybe even liquidation, if you keep on following the silly trend of the board these past five years of producing meaningless and obscure highlights in the company's interim and final results. Shareholders are also sick and tired of seeing directors produce silly statements twice a year like "These results, with the continued increase in revenues and reduction in losses, show that Maelor is still on track for profitability." When is the company likely to be profitable? You would think that with all the facts and commercial detail available to them directors should be able to offer shareholders at least an educated guess? In the interim results, dated 27th October 2005, Chairman Alastair Macpherson says that "Maelor has maintained steady progress towards profitability through it's continued focus on the commercialisation of our product portfolio and attention to cost containment." When he talks about cost containment does he mean the £182,203 savings on research and development compared to the same six-month period ended 30th September 2004? How can the company develop any products when it's cutting back on research? The chairman also says "Maelor is taking significant steps towards becoming an integrated healthcare company by re-acquiring the marketing and distribution rights for Volplex (R) in the UK." Why didn't he and the rest of the directors think it was important to combine this product with Maelor's other products before they sold the rights to Cambridge Laboritories? If Volplex (R) were indeed a product of such significance, why would Cambridge Laboratories want to sell the rights back to Maelor? When the chairman talks about micelle technology he says that the directors are now "Increasingly aware of the potential application in the veterinary sector, which they currently believe offers an attractive commercial opportunity." Why then didn't they take up this attractive commercial opportunity three years ago? Because way back on 26th September 2002 the directors said they were well aware of the potential in this sector and announced that Maelor had a collaboration agreement with Arnolds Veterinary Products LTD concerning the development and marketing of the micelle technology for the veterinary market. What happened to this agreement, is it still binding? It's quite extraordinary how the board is now saying that the future of Micelle propofol in human applications will be explored within the forthcoming strategic review. Because the previous CEO, Steve Appelbee, had continually told shareholders that Micelle propofol has considerable commercial value and that the features of this technology has created great interest among potential licensees, which he says have resulted in several partner discussions. Is micelle propofol creating any interest among any companies? Or is it just another one of the many damp squibs that Maelor directors have promised would deliver enhanced shareholder value? Maelor will never attract new investors by pursuing an exaggeration policy of the potential of products in development. In March 2002 the company announced that it had identified up to 22 applications for it's water-based micelle technology and that the top six alone had a combined market value in excess of £3bn. Is the board going to stand by this claim after the strategic review of this product? It beggars belief when Maelor directors' say that they have had no control over the disastrous fall in the share price. Surely they don't expect the market to be forgiving when they see a company develop a product (Tendagel) then fails to sell a single tube of that product? Nor would you expect your shares to head anywhere but south when your partner (Bard) tries to sell your leading product (Optiflo) in a country (Italy) that practices the replacement of catheters instead of using a maintenance solution to cleanse them? What kind of research is this? There is no other way but down when the market sees you renege on a statement like the one in Maelor's interim statement of 2001? It said then "A unique Bladder Cancer Delivery System was being developed with a view to improving operator safety during the administration of highly toxic materials used in the treatment of this serious illness." It even went on to say, "The Company was currently seeking to establish assembly contracts, and indeed, anticipated that CE Marking would be arranged in the near future." Again in the annual report 2003 the directors said, "They were in discussions aimed at securing distribution rights or licences to a number of products and are in the late stages of negotiation to acquire the rights of a specialised pharmaceutical product range fulfilling an important unmet need in the treatment of patients with cancer." Why is the company making these kind of statements when it cannot deliver? The market knows there is no substance whatsoever to these claims and it's had a catastrophic effect on Maelor's share price. The resulting plummeting to 7.75p is an absolute and utter disgrace. Maelor's share price was 123p in March 2001. When Stephen Appelbee took over as CEO in March 2002 it had fallen to 58p. In March 2003 it had fallen to less than half this figure and a Placing and Open Offer at 25p per share raised £2.89 million net of expenses. When Stephen Appelbee left the company in September 2005 the share price had tumbled to 8.5p. At the time of the offer chairman Alastair Macpherson said, "The successful placing strengthened Maelor's cash resources and that it reflected both the continuing loyalty and support of our existing shareholders as well as the opportunity recognised by new investors." Does Mr Macpherson still believe the directors have continuing loyalty and support from Maelor shareholders, whose investments are diminishing by the day? Mr Macpherson should now be asking all the other directors to show some loyalty and support by buying Maelor shares at this time. If they had any sort of belief and confidence in the company they would be snapping them up at such a ridiculously low price at 7.75p and not be simply relying on options. Maybe this should be the first thing on the agenda at the forthcoming strategic review. What shareholders don't want is a quick fix scatterbrain scheme that further reduces what for many is already a share price in crisis. Shareholders want to hear the truth and read about a healthy pipeline of development. They would also like to see a consistent and regular news flow. Maybe we could build on this instead of paying out large chunks of our assets in compensation to directors who we are told are 'leaving to pursue other interests' when, of course, we all know that they've really got the boot.
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