Mereo Biopharma Share Discussion Threads

[0o0] 20/11/2007 14:16

I think the Non Exec's purchase of £60,000 worth is significant.

[ba5hir is back] 20/11/2007 14:16

As soon as I saw results I had my sell order in before market opened yesterday and came out with a small loss.

I wont be buying again the results were horrendous.

The co had a duty to inform the market more than a 10% deviation from expectations...the deviation is clearly massive !

Its all false hope for the future evidently a few investros had a hint of bad results.

I dont go with improvement going forward the co already indicate difficulties and that is before the world economy slows further.

[momentos] 20/11/2007 14:14

SO Mr Morris received 1.12m from Marchpole last year, including a bonus of 852k (which net of 30% tax took 2.2p EPS from shareholders). Net about 660k.

Am I impressed he has thrown 15k (2%) of this back into shares?

Ronnie Stirling & Harvey Shulman will get about 50k each for their taxing directorial duties. So am I impressed by them chucking in 60k & 15k? Perhaps a little bit more...

[cosnova] 20/11/2007 14:12

just topped up 10k at 62p,

[8trader] 20/11/2007 14:10

Directors have bought stock or have you all missed that.

Still stock availble well below offer prices.

[taffee] 20/11/2007 14:10

don't think it was scullduggery....just nervousness about market reaction...perhaps now after armagheddon they may be more upfront.

It kins draws a line under the sand me thinks

[deanroberthunt] 20/11/2007 13:57

i think the doom and gloom's been overdone, and the drop, hence why I really held (not just for the divi).....Directors buying more, probably an instruction from MM to follow his lead or follow Mr Harrison.....

agree with Momentos though, its about time they started calling apples-apples...too many shenanigans and scullduggery for the markets fickle nature.

tell it as it is...as we say up Nawf

[momentos] 20/11/2007 13:33

An in-depth analysis then.

BTW I agree the 50k was a buy. Shares were on offer for just over 60p for a while and continue to be available sub mid-price.

[wynmck] 20/11/2007 13:28

Comment in IC following results yesterday:
IC VIEW:GOOD VALUE
Marchpoe clearly has some way to go in replacing the YSL contract.
But growth prospects remain from the expansion of the other brands,and a forecast adjusted earnings multiple of just 3 for 2009 more than factors in the risk.
Longer term good value.

[8trader] 20/11/2007 13:13

You are right cosnova, you cant sell much online so a 50k trade at
that price is a buy.

What's most disturbing is that none of the directors have stepped
in to buy stock, unless of course that 50k was one.

[cosnova] 20/11/2007 13:00

50k sell, someone got caught with their trousers down! but then it could be a buy?

Tempted to top up.

ps

On reflection I think you are right, can't see the mm's paying 60p for such a large order

[0o0] 20/11/2007 12:59

Well 60p(in new money) was the support two years ago. It was 4 years ago when the price was even lower and MPH was then a basket case. I reckon that 50,000 at 11.40 was a buy, so perhaps someone doesn't think Marchpole is quite a basket case yet.

[momentos] 20/11/2007 12:43

Sorry, but AFAIK he is not reliant on current Marchpole shares for his fortune. He was royally paid at the initial float back in the mid 90's, unless he spent it all!

[taffee] 20/11/2007 12:38

alot said here about morris,however,he is also a shareholder and is paying a dividend(6% yield)and looking at the licences he isn't sitting around doing nothing.

Think these have value at this level surely.

[momentos] 20/11/2007 12:28

Talking of shares caned yesterday HMY actually looks like it got an undeserved beating and may recover (vs the deserved one here)!

[momentos] 20/11/2007 12:06

AS far as MM goes, If he was getting divorced as rumoured, I hope any settlement was based on the share price at 185p!

[chap1889] 20/11/2007 12:04

May I refer you to It's a Wrap (UK) Ltd (In Liquidation) v (1) Barbara Gula (2) Anthony Gula [2005] EWHC 2015 (Ch).

The High Court has held that there is no liability to repay unlawful dividends unless the member receiving the dividend knew or had reasonable grounds to believe that such payment was being made in contravention of the Companies Act 1985.

Funnily enough, the liability to repay them to the company lies with the directors. Wonder if that's why MM needed such a huge bonus, for just such an eventuality? ;o)

[momentos] 20/11/2007 11:40

The good news for all those that exited Marchpole yesterday is that they are not coming after you to get last years divi back. That's the only news / point of the EGM.

[tuftymatt] 20/11/2007 11:27

There will not be anything good to come from the EGM.

If there was good news in the pipeline they would have said about it yesterday as they have done in the past.

[seizetheday] 20/11/2007 11:23

bought yesterday at just under 65p thinking it was the bottom.

How come Barclays has added 50k to their substantial 3.275 million shares just few days ago !?? I cannot believe they just gambled like Robbie Burns (his fingers). They must be confident in the future.

Hope for good news from the EGM today.

[momentos] 20/11/2007 11:20

BTW, the strategy seems to have gone from "Go Go USA" to "Lets try to sell to Borat".

Whether the 60p holds may depends on whether the insti's dump after this latest farce. Wouldnt blame them if they did.

[momentos] 20/11/2007 11:05

And where will it stop... Will the 60p hold? (my bet: NO)

If you do CHOOSE to trust Mr Morris H2 could be 10p. However in previous years this has been achieved with "Fair value adjustments". Perhaps thats why he's after another acquisition....

In reality America missed by miles (628K loss - I expected flat), EMEA overperformed (831k profit - I expected 300k).

Cant separate between Greenmark, UK Apparel and directly attributable / other admin expenses so I cant tell whether these actually made a loss or not. But I was expecting Greenmark 1-1.5m pbt (although I am unaware of how the sales for Greenmark are phased) and UK Apparel at c 1.5m PBT.

We have a hole of 2.5m PBT that I was certainly expecting (3m UK). Is this REALLY all due to expansion costs (seems unlikely)? Or is it margin squeeze on UK Apparel / Greenmark, possibly due to the YSL overhang?

[taffee] 20/11/2007 10:32

taking out ysl they did increase turnover by 200% and still made a profit....guess no movement until next results.

Think it was the expectations that killed things here.

6% dividend aint bad