Mediwatch Share Discussion Threads

[totally banjo] 02/12/2013 10:07

I wouldn't put it passed Stimpson to sell a few to try and encourage others and therefore achieve his aim....look how cynical I have become!

[p1nkfish] 30/11/2013 17:29

Read page 25 to get an idea what can happen.
If the offer is pulled I reckon the CEO is toast as a starter.
Laborie management will look awful in the eyes of Audax and major change will be forced on to Mediwatch.
Alternatively, Laborie have to address it and I read page 25 as a part explanation.
Recent buys are to arbitrage the guaranteed 6p for a small short term % return that could be respectable if annualised. It might also be some folk expecting >6p. They may be disappointed, who nows.

[bentley4boy] 30/11/2013 10:44

Morning all.
Interesting posts and I'm sure Barry is not surprised to hear nothing from PS or anyone else connected with the management.
What will/may happen if, the cut off date is reached and they do not have a majority take up ? Do they withdraw their offer or up it ?

[barrywhit] 29/11/2013 20:33

Banjo,

All the new products will be launched from April 2014........FDA approval probably summer next year........have a good week-end......

[p1nkfish] 29/11/2013 15:22

Amati were selling down about 2010 onwards?

If enough say no it will put the cat amongst the pigeons.
Management will have to change in that case.
As soon as a mention of a possible employment offer, and given the already known salary increase to the CEO, we can imply the same sort of increase to the others. In that case they should be parked out of the picture until this is finished as a vote.

Does that not seem reasonable?

[dorset64] 29/11/2013 14:53

You'll be waiting longer than a fish waiting for its fingernails!

[totally banjo] 29/11/2013 14:52

Can anyone remember why the share price fell from mid 2010....although irrelevant now I suppose....

[barrywhit] 29/11/2013 14:29

I must say this is only my interpretation of how I read the facts, if any of the Directors would like to correct me on any of my views, Philip Stimpson and Omer Karim have my personal details, I await clarification on the deal if I am incorrect.........

[barrywhit] 29/11/2013 14:20

They couldn't sort out the NED's before the offer went through, else who would speak for and too the Shareholders..........LOL

[totally banjo] 29/11/2013 13:39

"2013 will be a year filled with new product launches."--- The only new product launch I can see is the 'Stimpson Magic Set' an ideal family gift for Christmas..includes the 'vanishing shareholder cupboard trick','more than double your salary in the blink of an eye' and not forgetting those 'Irrevocable Rings of Steel' which are sure to drive the family mad!

If he gets away with this then good luck to him but I'm voting NO!



"After a long development period, Mediwatch is proud to announce that it has started selling PSAwatch, the world's first and only quantitative point of care test for whole blood prostate specific antigen (PSA). PSAwatch is steadily increasing its share of the almost 50 million PSA tests that are performed annually worldwide.

Mediwatch's vision for the future is to develop affordable equipment for the treatment of conditions in its targeted clinical areas. 2013 will be a year filled with new product launches."

[dorset64] 29/11/2013 13:14

barry, thats what confuses me, I can understand the directors accepting the offer and to have screwed shareholders in favour of future salary increases/bonus' etc, but what incentives have been offered to the other large stake holders for them to redily accept. There has to be something in it for them to accept the low offer, doesn't there?

Perhaps once everything has gone through, only then will the real facts & bonus' come to light.

[barrywhit] 29/11/2013 13:02

pinkfish,

Incentive, of course there is else why take such a low offer.......and that's probably why they stipulate they will talk to the other directors when the offer goes through......

[barrywhit] 29/11/2013 13:00

Dorset,

There is a new section under the Shareholders information, link below:

[p1nkfish] 29/11/2013 12:58

Also, given the chairman and Emberton WILL MOST LIKELY BE offered contracts, shouldn't they also be out of the picture as should any other Director or NED that is in line for a contract of employment?

Given the CEO's increased salary the others can expect a similar benefit so even though not signed isn't there an implied incentive there?

[p1nkfish] 29/11/2013 12:55

If this deal doesn't happen for any reason at all, wouldn't that make the CEO's position untenable given he has nailed his colours to an employment contract with Laborie?

Everything could change by the end of March 2014 if enough small shareholders just vote "no".

[dorset64] 29/11/2013 12:51

They must be somewhat embarrassed with the offer as they have not even had the decency to update their own website with details of the acceptance of the offer, or in fact any RNS since 22nd October.

hxxp://mediwatch.com/en-gb/mediwatch-plc/corporate-news

[totally banjo] 29/11/2013 12:17

Scheme of Arrangement Document FINAL.pdf

[totally banjo] 29/11/2013 10:18

Philip Stimpson a salary of £320,000 per annum during the fixed term-a minimum of three years" no wonder.........in view

"In view of the new employment arrangements with Philip Stimpson, which are described in more detail in the Scheme Document, the Mediwatch Board has determined that it is appropriate that only the Independent Directors consider the terms of the Acquisition and make a recommendation to the Mediwatch Shareholders.

The Independent Directors, who have been so advised by share price Angel, consider the terms of the Acquisition to be fair and reasonable and unanimously recommend that Mediwatch Shareholders vote in favour of the Scheme at the Court Meeting and the Special Resolution to be proposed at the General Meeting. In providing advice to the Independent Directors, share price Angel has taken into account the commercial assessments of the Independent Directors."

[totally banjo] 29/11/2013 10:14

Wonder if Scrooge will be there too!

Mediwatch PLC Posting of Scheme Document

29 November 2013

Mediwatch plc


Notices of the Court Meeting and General Meeting

The Scheme will require the approval of Mediwatch Shareholders at the Court Meeting and the passing of a special resolution at the General Meeting, and then the approval of the Court.

Mediwatch Shareholders will receive the Scheme Document, which also sets out the notices convening the Court Meeting and the General Meeting together with a blue Form of Proxy for use in connection with the Court Meeting and a white Form of Proxy for use in connection with the General Meeting.

The Court Meeting will take place on 23 December 2013 at 10.00 a.m. and the General Meeting will take place at 10.15 a.m. on 23 December 2013 (or as soon thereafter as the Court Meeting shall have been concluded or been adjourned), at the offices of Field Fisher Waterhouse LLP, 35 Vine Street, London EC3N 2PX, to allow Mediwatch Shareholders to vote on the resolutions required to approve and implement the Scheme. A full description of the terms and conditions of the Scheme and the actions to be taken by Mediwatch Shareholders is set out in the Scheme Document.

[barrywhit] 28/11/2013 15:04

You also have to be very disappointed with the Non-Exec. Directors letting him get away with it, they are supposed to be there for the shareholders, but they are also obviously happy with the outcome or they wouldn't have included the irrevocable undertaking in the agreement.......shame on them all..imho

[dorset64] 28/11/2013 14:55

Hi barry, would agree also that a by product of taking the shares, and as you say might well had been the primary reason, was to show/increase the profit at year end.

As you say Barry, nearly 10p a share & only having to pay 10% entrepreneurial tax relief on it is a pretty good incentive to stitch everyone else up & walk away with two fingers held high.

[barrywhit] 28/11/2013 14:43

Can't disagree with most of it Dorset, but with regards the shares for wages, I just think they did that to still show a profit at year end....

I always knew that Stimpson ran the company for his own benefit, but just didn't expect him to sell out for such a low figure, but I suppose the £1million in wages over 3 years adds another 3.6p to his shareholding in reality, so he will be getting nearly 10p per share.....

[dorset64] 28/11/2013 14:34

I think everyone who had invested in MDW over the years, and that had backed the BoD to the hilt in that time, now unfortunately has to agree/see that they were effectively running it for themselves. Just look at the 'shares for salary' option taken out a number of months back, that was a really cheap way of buying shares IF you knew there was an impending approach coming in.

I had argued, and was lambasted by many if not most, but Trout especially whenever I banged on about ousting the board and especially the top guys as, in my view, MDW was going nowhere with them at the helm. All that has been proven now is that at the very first attempt when closing in on his retirement, he simply jumped into the arms of a cheap deal as, with him especially, all he will be paying is just 10% tax on his buyout price.

That could be one of the reasons he has accepted such a low ball offer as the tax side of things to him means he keeps 90% of all profit, whilst stitching up his shareholders of whom had loyally kept him & his cronies in his job for years.

Banjo has a picture of a kipper & stitches on his thread and you have to agree with him that all current shareholders have been well & truly stitched up, despite the years of support shown.