Mereo Biopharma Share Discussion Threads

[momentos] 10/10/2007 15:59

Marben, that is to a degree fair comment, apart from the vast majority of the extra sales, and therefore the bonus, came from YSL sell through.

The deals are, as yet, unproven as good so it is hard to say a bonus is due as a result of them.

[nardelli] 10/10/2007 15:57

he also got 3 million income from greenmark, what would you expect if you put that deal to the table, there was also a rumour he was going to sell stock to pay for his divorce,no need now,

[wbjunior] 10/10/2007 15:54

momentos thanks for breakdown of where our profits went, feeling much better now, been down with flu all week, keep smiling...lol.................wbj

marben100 I am not saying MM or the others did not earn the bonus payments , rather that any reward should be gained in the same way as holders through share price appreciation or divident payments. By allocating shares for performance rather than cash both our interests are the same. If you have time take a look at Ted Baker and the way they reward success.
cheers

steve

[marben100] 10/10/2007 15:53

Momentos,

Did he have to work particularly hard to get this extra?

Whilst we're all unhappy with the scale of the bonus, I think that's a bit unfair. The impresssion I've got when I met him and the board at the AGM is that he has been working his butt off, flying all over the world to get those deals done for the future. Admittedly we didn't see the result of that work last year but I don't think MM has been exactly lazy. You've got to hand it to him & the Board that the Greenmark deal was quite a coup (subject to results this year obviosuly!).

Having experienced one tiny little M&A deal myself, I can assure you that dotting the I's & crossing the T's is a huge headache and not something you can usually delegate much. Keeping the bloody lawyers under control is a nightmare to start with.

Cheers,

Mark

[momentos] 10/10/2007 15:47

Does kind of show your hand a bit....

Assuming Cantor are intelligent you wouldn't expect them to put the whole amount they have to sell on in one go, suggesting perhaps far more than 50k to sell if that was their opening chunk!

Ouch.

[marben100] 10/10/2007 15:44

Momentos,

Is that 50k still hanging around?

No, just 10K on offer at 113 from Cantor's today. Perhaps they thought 50K looked a bit scary? :0)

[momentos] 10/10/2007 15:43

THe bonuses were actually

M Morris 851,999 (Base Salary 260K) vs 2006 90K (Base Salary 115K)
J Harrison 212,000 (base salary 158,000) vs 2006 (Hampshire) 80K (Base salary 100k)

plus 16k each for the four non execs /chairman:

C Phillips 16K (Salary 45K) vs 2006 NIL (salary 30K)
R Harris 16K (Salary 26K) vs 2006 NIL (salary 19K)

(other Non-execs are part year similar to R Harris)

Total Directors emoluments

2007: 1.672m
2006: 779K
2005: 665K

Nice work if you can get it! Mr Morris had a base salary rise of 126% !!

As Private Eye would put it, trebles all round.

[momentos] 10/10/2007 15:29

wbj, yes it is infuriating.

Effectively his 1m bonus took out 3p EPS. Whilst I am sure it was approved by all the appropriate (tame) remuneration committees it is a two finger salute to all other shareholders.

Could have been a 3p divi each. But instead, as a holder of about 25% of the company he has paid the equivalent of a 12p divi to himself only...

Did he have to work particularly hard to get this extra? No he just had to slash wholesale prices on YSL and say to customers, go on, buy 2 years worth - its cheap and we wont be producing it next year.

His actions have actually caused a bit of a problem, with excess YSL stock potentially blighting the Ungaro launch.

SO although I believe in his entrepreneurial abilities it was a little cheeky to say the least.

[jamesjoel] 10/10/2007 15:20

Well I contacted them by mail some weeks ago and have not had a reply!
Investor Relations is not very good and does not give me any confidence in topping up but then again they will be too busy spending the bonus to probably reply!

[wbjunior] 10/10/2007 15:06

Michael Morris is exasperated as to why the share price has declined to this level and I must concur with him on that, although I believe the huge bonus payments did not help matters. As a shareholder I either gain by capital appreciation on the share price or dividend payment and these were cut in proportion to earnings. Any cash payments should have a cap on them of say one years salary and employees should only be able to gain in the same way as holders. Had my gripe for the day and feeling much better............lol................wbj

[momentos] 10/10/2007 14:46

20k dropped on Plus @ 111. As well as a few other chunks.

Is that 50k still hanging around?

Depressing overhang, looks like we are struggling to hold on to the 110p.

[nardelli] 10/10/2007 10:51

middle east and russia is oil, that is why mph are there, perhaps they should go under oil stocks haha....... however we mostly all agree mph is under valued, time will tell

[jagajag] 10/10/2007 08:43

nardelli - I agree with their sentiments - but not with MPH!
Most of mine are in Oils

[nardelli] 10/10/2007 08:32

I was out with some fund manager's last night, they think equities are now the only place to park money, expect average p/e's to go higher... who knows

[momentos] 10/10/2007 08:21

British Bull sold for their predicted imaginary penny....

One month to predicted interims date (Wed 14 November). We are awaiting a Finance Director and, as ever, an "imminent" acquisition!

What was the interpretation again? Imminent = 9 months, in the near future = 6 months or something like that...

"We are currently in negotiations for both new licensing agreements and for a modest acquisition which we hope to conclude in the current financial year."

S'pose that gives them until March anyway..!

Hardman (July) said;

We understand that at least one further deal, and potentially a significant acquisition, may be announced in the not too distant future. Given this,
Marchpole has, while increasing its full year dividend from 3.5p per share to 3.75p per share, sensibly lowered its dividend payout ratio from 37% in 2006
to 22% in the current year."

Ahhh, a new factor / phrase to interpret: "in the not too distant future". I suppose our only take on that is to work backwards from what is the "too distant future". That sounds like about 10 years to me....

[marben100] 09/10/2007 17:26

Hmmm I use Proquote. Perhaps mummyam haven't updated to take account of the new SETSqx platform?

[qackers] 09/10/2007 17:23

yes - through etrade - they use mummyam.

Weird

[marben100] 09/10/2007 15:39

Yes it is qackers. Do you have level 2?

[qackers] 09/10/2007 15:31

marben - is it still there (15:30pm) because i cannot see it on my screen (mummypm)

[momentos] 09/10/2007 15:12

Cantor Fitzgerald....

Hmmm.

[marben100] 09/10/2007 15:01

'fraid it's worse now: a MM (CFEP - not one of MPH's usuals) has put 50K on offer in the new L2 order book @ 113p, so if anyone wants to snap those up, they can do so. Someone seems to be dumping a lot.

[wbjunior] 09/10/2007 08:43

More 5k selling when will it stop, had email from MPH yesterday but they were unable to answer my questions at the present time so no new information, have a good day....................wbj

[eagle eye3] 08/10/2007 15:42

just added 4000 at 113.75

[momentos] 08/10/2007 12:48

Ungaro! Very nice, er clothes.