Medicsight Share Discussion Threads

[falundafa] 11/7/2011 10:34

cumnor,

To help untangle the web I suggest you research the International Cotton Company, now the International Capital Corporation Plc, and then the non classic financial collapse of Polly Peck. imho

[cumnor] 11/7/2011 09:22

What a tangled web these silly investigations weave and they can test boardroom relationships to the point of fracture. While the companies themselves investigate clearly no harm if regulatory bodies like those responsible for AMEX, DIFC (who tend to take things more seriously)or LSE are kept abreast of events to ensure, in the wider interest, no stone is left unturned and every director with any ambition gets the opportunity to ensure they are not remotely tainted by allegations that could, by association, jepordise their own family interests. imo dyor

[falundafa] 10/7/2011 16:26

More FISH, now we have a Red Herring. What! no piranha!!!

[cumnor] 10/7/2011 15:51

Lets hope this is all a red herring about control but IF there is anything missing from MDST then that it's only some minor mis-demeanour involving tea money sums or travel expenses etc, the kind of thing companies harass their lowly staff for. A suspension of shares is somewhat serious though.

The company, we were told, had over 4ml at last count and with a recent FDA nod should be sufficient to see Mdst through to contracts and deals to enable it flourish.

Lets hope any possible concerns alluded to are unfounded and the lot is not gone however and we don't have a worst case theoretical situation like where it's been 'lent' to other companies for whatever possible reason and been syphoned away in some Middle Eastern bank account, or such what which has been the hallmark of several Aim entities in the past?

If thorough proper investigation does ultimately show definite 'misappropriation' of big sums belonging to shareholders (not referring to anyone in particular) that Mdst needed to get it's products into hospitals saving patients' lives, and which involved certain sacrifice on the parts of patients allowing themselves to be used in trials, then I'd hope those proved to be responsible do the 'honourable' thing (unlikely) and, amongst other consequences, spare their family(ies) the harassment that inevitably follows frauds of any nature, if indeed that is shown to be the case. imo dyor

[falundafa] 10/7/2011 15:31

Which book would that be cumnor?

By the way where is Fryern? Friar Tuck as Jyantkilr referred to him and did his wife really attend a prestigious Finishing School?

[shifter2] 10/7/2011 13:08

your on verge fda approval so why have we had so many changes in mdst and mgt boards

could they see someone had hand in the till

lets hope it comes good not ideal

[cumnor] 10/7/2011 10:47

Anyone know how the ownership of mgt breaks down? With some of the same mgmt team interesting to know if director's interests in mgt, and thus an indirect interest in mdst could theoretically create a conflict of interest in investigations that might potentially be of interest or even concern to AMEX regulators? I'm sure all is being donne by the book and just hypothesising so interesting few days ahead. IMO dyor

[a.fewbob] 10/7/2011 00:17

So if they have 4 to 5 million why is everyone so gloomy? Is it likely that its all been nicked?

[happier] 09/7/2011 23:57

They have 4~5 million at the end of March. But the FDA approval is much more valuable than this.

[a.fewbob] 09/7/2011 21:16

How much money are they supposed to have?

[happier] 09/7/2011 17:48

Hope our money will be back. Is it possible for MDST to restore trading at AIM in the future? Or just disappear? It is a pity for this company which struggled over the years to get FDA approval. As soon as it passed it, the suspension came to play. Terrible.

[shifter2] 09/7/2011 13:30

strange goings on to many directors coming and going a real mess

be suprised to get anything back even as an mgt holder

he deserves to go away for a few years

regards tim

[red army] 09/7/2011 12:58

I agree but MGT are in control albeit that they have to be careful how they handle themselves ie "insider" influences.

[cumnor] 09/7/2011 09:40

Red Army, both companies have too many directors in common for my liking. Both (meaning some of the same people) will be investigating the allegations. No doubt someone would benefit from a cheap take out but frankly I would prefer the likes of Siemens or Ge, as you suggest, to take it directly rather than Mgt but clearly, like other shareholders I await the outcome of the investigation. The directors common to both companies may not want the hassle that could be created for them, esp on the US side, if shareholders feel, even if wrongly, that the 'investigations' are not 'as transparent and thorough' as some might like them to be. imo dyor

[red army] 09/7/2011 09:18

MGT Capital Investments will take this out for the current price and sell it on for probably double (or more) to someone like GE or Siemens etc.
Its a pity that the CEO played into their hands.

[cumnor] 09/7/2011 09:00

Agree, Red army, about the IP and technology being worth probably more than the present mrkt cap alone, whatever cash is left. TG I hold less than 2% of my portfolio in this but annoying anyhow. Would be surprised if we did'nt get something back as the CAD technology with FDA approval and clinical data is imo worth considerably more than 10ml.
A for sale sign might be the very thing that gets the diagnostic imaging companies interested as this tech would imo considerably enhance the saleability of their own diagnostic equipment.
I also wonder if there is some stand off between the non-overlapping staff of MGT and MDSt as to how best exploit the technology and proceed. Yesterday btw was i believe the final day for mgt to submit it's plan for retaining listing in NY. ? coincidental.
The fact the biggest sh in mdst is also US listed with American shareholders will no doubt concentrate the minds of those in MDST who might be interested in preserving a relationship there. US authorities, unlike our own in London, take a keen interest in matters relating to claims of 'mis-appropriation' of shareholder funds and can in general deal harshly where fraud has been shown to have taken place.
As there is an investigation ongoing by both companies (hopefully the US regulators will also take an interest) one has to assume innocence of all parties until or if the outcome shows otherwise.
The company is debt free with very valuable tech and hopefully some cash so not sure if it can be written off yet. Anyone know any details to add on anything or anyone in MDST that might be of relevance? dyor imo

[red army] 09/7/2011 07:42

There SHOULD be around £4M cash and some valuable IP tied up with this one.
I would say a bit of a no brainer for someone to buy out.

[encarter] 08/7/2011 22:46

I doubt it, but no one could have foreseen it so don't beat your self up. These things happen on AIM.

[happier] 08/7/2011 19:40

Is is possible for us to get our money back?

[a.fewbob] 08/7/2011 19:09

I want to see people go to jail if they have stolen my money.

[jammytass] 08/7/2011 15:33

whoops not torex again

[topinfo] 08/7/2011 15:32

TIDMMDST

RNS Number : 0892K

Medicsight Plc

08 July 2011

8 July 2011

Medicsight PLC

("Medicsight" or "the Company")

Suspension of CEO,

Suspension of trading of shares

Medicsight PLC (AIM: MDST), The Board announces that it has started an investigation into possible misappropriation and/or misdirection of Company funds and that its majority owner MGT Capital Investments Inc. (MGT) has launched a similar investigation. This investigation will be conducted in line with Company policy. The Board has requested a temporary suspension of trading pending clarification of the Company's financial position.

Allan Rowley, Chief Executive Officer of the Company, has been suspended from his Executive responsibilities with immediate effect pending the outcome of the investigation.

Robert Ladd, Non-Executive Director of the Company, will assume the role of interim Chief Executive Officer whilst the Company conducts the investigation.

The Board also announces that Steve Harris, the recently appointed non-executive director, has resigned.

A further announcement will be made as appropriate.

- ENDS -