Mereo Biopharma Share Discussion Threads

[wbjunior] 22/11/2006 11:20

Pingi
What happened to the 4.5 million then, don't keep me in suspenders........wbj

[momentos] 22/11/2006 11:14

Bloody shorters!

Premier Pompey, now Pingi! I dont know....;-)

Ig seem very selective on when they let you deal on a potentially volatile share. Call them to place it and you might get the order or at least a quote from them.

[pingi] 22/11/2006 11:07

Cr4zyness - Well if you are trying to go long and me short can't they net us off and bank the margin... assuming we are taking the equivalent £position.

I thought that is how they worked.

Better still... let's cut out the middleman!

[cr4zyness] 22/11/2006 11:01

PINGI,

I can confirm you are correct however you cant go long either!????????!!?!!?!?

News my be imminent or in 10 weeks!

[pingi] 22/11/2006 10:55

Tried to go short with IG...

Can't!

Get the message... This market is only available for closing deals.

Never seen that before.

Any views?

[momentos] 22/11/2006 10:48

Given effects of previous tips, probably best to sell now and buy back at 115p then!

Their ( and IC's) factual accuracy sometimes leaves something to be desired, another couple to sue perhaps....

[dan de lion] 22/11/2006 10:45

Shares mag out tomorrow, may have a reccomendation in it!

[pobpob] 22/11/2006 10:33

no buys so far today then.. and a few sells on plus

22/11/2006 09:52:57 118.03 1,000 O 1,180.30
22/11/2006 09:48:27 118.03 1,354 O 1,598.12
22/11/2006 08:51:02 118.03 716 O 845.09
22/11/2006 08:10:55 118.03 1,722 O 2,032.47
22/11/2006 08:01:25 118.06 350 O 413.21

[momentos] 22/11/2006 10:26

Anyway, nice to see a tight spread of less than 1%.

On the acquisition name, I had a further dig on Hackett - seems unlikely as current owner happily chucking dosh at it to expand.

Any other suggestions? Farah (get your stay press here!)?

[pingi] 22/11/2006 10:05

dan de lion - thanks but momentos already posted AR link.

I think I've worked out what is happening with the apparent missing $4.5m re. Moda acq. I had been querying.

[dan de lion] 22/11/2006 10:00

Have read about people querying MODA purchase does this help:-



5 Acquisition of subsidiary

During the year the group purchased the entire equity interest of Moda
America LLC effective 31 December 2005. Provisional values have been
assigned to the assets and liabilities acquired and the purchase
consideration based on information held to date, however, adjustments to
these values may occur as the fair values and purchase consideration are
finalised.

Book Value Fair value Fair
adjustments Value
#'000 #'000 #'000
Net assets acquired
Property, plant and equipment 621 (483) 138
Inventories 611 - 611
Trade and other receivables 2,579 (130) 2,449
Cash and cash equivalents (18) - (18)
Trade and other payables (3,188) (57) (3,245)
--------- --------- --------
605 (670) (65)
========= =========

Intangible value ascribed to client
relationships 2,000
less deferred tax accrual (600)
Fair value of net assets acquired in excess of
fair value of purchase consideration -
recognised in the income statement (889)
--------
Total consideration 446
========
Satisfied by:
Cash 182
Directly attributable costs 264
--------
446
========

Adjustments include amendments to reflect the fair value of the assets and
liabilities acquired, specifically to write off fixed assets which could
not be physically verified and to identify additional liabilities which
were not recorded in the book value.

The final consideration is subject to agreement with the vendor in respect
of a set of completion accounts. Negotiations remain ongoing. The
consideration included above represents the Directors' expectation of the
final purchase price and includes an anticipated recovery of #408,000 in
relation to cash paid to date. Any movements in the final consideration
will be reflected in the group's accounts for the forthcoming year in
accordance with IFRS 3: Business Combinations.

Turnover of Moda America LLC for the period from acquisition to 31 March
2006 was #2,551,000 and the profit before tax was #336,000.

[momentos] 22/11/2006 09:34

dan del lion, no been very quiet here!!

[dan de lion] 22/11/2006 09:29

Just back from a week in Spain, nice little rise whilst I was away, have I missed anything?

[momentos] 22/11/2006 09:28

...and I'm sure he'd be happy to do it imminently, or at least in the very near future...

[dramatis] 22/11/2006 09:06

or five...

[momentos] 22/11/2006 08:58

True enough until 8:25 at least...



So people could probably have sold at 119.1 and rebought yesterday at 118.8. So gain of 0.3p, loss of 0.6p stamp duty. Total loss 0.3p, £3 per thousand plus dealing costs.

Perhaps Mr Morris will offer to buy you a pint....

[verulamium] 22/11/2006 08:54

In fact if you were selling on Monday "in the light of the RNS" you'd have done so first thing and got over 119p. You could still buy back for less than that, so you could end up with a bill from Michael Morris!

[momentos] 22/11/2006 08:47

"sue me" I would have thought!

Given that the minimum you could have sold at is 112 and buyback after correction 119p difference is 7p. You have cause for about 7.6p max per share, plus dealing costs. About £76 per thousand held.

Don't fancy your chances that much though!

[actybod] 22/11/2006 08:35

I sold on Monday in the light of the incorrect RNS.

Should I make a complaint?

What are they likely to do/say?

[wbjunior] 22/11/2006 08:26

Remy,
I hope your right, but remember that YSL is a big percentage of the interim figures and from Dec this year all revenue will stop for YSL. I am being prudent and will be very pleased to be out by a mile, but even on my figures it gives eps of 20p for the next two year. Hope your right regards wbj

[remynapoleon] 22/11/2006 00:09

wbjunior

Your forecasts are well out.

We have 1/2 year foward orders stated at £40m and these may already have increased. A lousy first half next year of £20m brings us to £60m for a split 2006/07.

I appreciate you are probably taking the YSL loss into consideration but we have been told by MM that Ungaro is expected to cover the YSL lost sales.

Given the expectation that Moda will do some business as well as the rest of the world with JCC etc, I consider £61m to be a poor figure, if not a darn right failure.

This is without the acquisition, should it be successful.

And I'm talking 2007 here, not 2008, when we must expect further increases.

remynapoleon

[pobpob] 21/11/2006 18:22

nice buy of 25,000 on plus as well

[dramatis] 21/11/2006 17:17

80k purchased at 119 after close - nice.