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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Neometals Ltd | NMT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 2.75 | 08:00:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.50 | 2.50 | 2.75 | 2.75 | 2.75 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
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Posted at 12/11/2006 10:37 by pc4900074200 Off BB topic but something about the old NMT factory site.Encap moves to double capacity DOUGLAS FRIEDLI A CANCER drug producer is doubling its capacity by moving into a factory vacated by NMT, the former star of Scotland's medical technology sector. Encap Drug Delivery, which makes capsules for pharmaceutical and biotechnology companies, plans to recruit up to 20 highly qualified research and production staff to meet rising demand. Glyn Dowler, the company's owner and chairman, will invest between £1m and £2m expanding the business, which employs 40. Encap's capsule technology allows patients to take a single dose of a drug which is slowly released over a day, rather than having to take four or five pills a day. Rising demand has prompted it to take over a factory adjoining its base in Livingston which was previously used by NMT, the syringe-maker which collapsed in 2003. Joe Carey, the company's chief executive, said: "People want to take fewer pills and capsules per day. It is all about how you can take a high dose in one go safely." Carey joined from Cambridge Consultants, where he was a senior consultant, and has held roles at BTG Surrey University and Chiroscience Group. Dowler is a former Procter & Gamble executive and serial entrepreneur who also owns a packaging group. Carey added: "The big international companies use us either because they do not have the capability, or the facilities they have are stretched. And we are seeing increasing demand from local biotechnology companies." This article: Lets hope it gives work to some ex NMT workers. pc |
Posted at 19/9/2006 07:19 by waldron Tue 19 Sep 2006Printer friendly Send to friend Comments (0) Volvere agreement with Clareco opens way to NMT deal HAMISH RUTHERFORD INVESTMENT firm Volvere has passed a major hurdle in its bid to buy fallen Scottish biotech star NMT, with another major shareholder indicating it will agree to a proposed offer. Clareco, which owns 4.1 per cent of AIM-listed NMT's shares, has now given an irrevocable undertaking to accept a recommended deal made by Volvere last week. Volvere now owns or has irrevocable agreements for 50.1 per cent of NMT's capital, meaning its offer can now be made unconditionally. The deal, announced last week would trade three NMT shares for one Volvere shares. Sandy Jamieson from Volvere's financial advisors, Dawnay, Day, said yesterday the offer was likely to be made well before the 28 days after making the recommended deal, as required under takeover rules. Volvere, chaired by former Dixons chairman Lord Kalms, says it buys companies which are undervalued or where there is a good prospect of a turnaround. NMT was once held as the great hope of the Scottish medical devices industry, but its apparently world-beating syringe technology was never produced or sold under licence. Some long-term shareholders have seen more than 90 per cent of their holding disappear. To delist the company, Volvere would need to acquire either 90 per cent of all capital before it could begin compulsory purchases, or gain support of 75 per cent of the voting capital holders at an EGM. While a number of small shareholders are likely to oppose the move, after previously opposing Volvere chief executive Jonathan Lander's attempt to take control of the company, Volvere is confident of getting the support of most large shareholders. Shares in NMT and Volvere were both unchanged yesterday at 55.5p and 177.5p respectively. This article: Last updated: 19-Sep-06 01:00 BST |
Posted at 17/9/2006 05:35 by waldron NMT shareholders angry at Kalms-led takeover bid by VolvereDOUGLAS FRIEDLI PRIVATE shareholders in NMT, the former darling of Scotland's medical technology sector, have reacted angrily to a takeover bid from a group headed by Lord Kalms, the former Dixons chairman. Volvere, an investment company chaired by Lord Kalms which has a 29.9% stake in NMT, last week offered to acquire the rest of the company in an all-shares deal valued at £5m at last week's prices. Kalms and Volvere's Jonathan and Nick Lander are already directors of NMT following a toughly fought vote for control last year which left many smaller shareholders suspicious of their motives. The offer of one Volvere share for every three NMT shares appears to provide a way out for investors in the safety syringe maker, who have seen the value of their holdings dwindle over the past five years. But many would be happier to take a share of NMT's £6m cash pile. One member of the Interactive Investor internet group wrote: "Volvere shares are tightly held and it is very difficult to deal. Volvere's actual asset value is less than £1.00 a share, so buying NMT at effectively a third of the NMT cash is certainly a great deal for Volvere but pretty awful for NMT - and there is no cash alternative." Another said: "I am taking advice on whether or not it could be productive to pursue any kind of claim for losses resulting from maladministration." Although small shareholders hold a majority of NMT's shares, they are unorganised and in many cases demotivated, and have not been able to stand in the way of Volvere's moves. This inertia, which has helped Volvere in the past, may make it more difficult for the investment firm to reach the 90% of acceptances which it requires for a complete takeover. One investor suggested investors might disrupt Volvere's takeover plans by selling the majority of their shares but holding back a few to entitle them to updates on NMT's activities. Jonathan Lander previously clashed with NMT shareholder Peter Gyllenhammar, who claimed that Volvere's management was paying itself too much to run a small company with no trading operations. Volvere's bid was recommended by NMT's independent directors, Lex Gold and George Wardale. Volvere last week said it had an undertaking to accept its offer from Wood Hall Securities, which holds around 16% of NMT shares. Jonathan Lander said: "Volvere very much looks forward to bringing NMT into the Volvere Group. We believe that this acquisition will offer exciting opportunities for the continued expansion of Volvere's business." This article: Last updated: 16-Sep-06 00:58 BST |
Posted at 14/9/2006 18:30 by pc4900074200 Just a quick post as just arrived home and will need toevaluate what has been said and what has transpired over the last year. An in-depth analysis will be posted later. Point to remember here is that on taking over NMT on 14th September 2005 Volvere were shouting the cry of 'Shareholder Value' Remaining shareholders need to be reminded that the close of day prices of NMT shares on that day were as follows? Bid: 00:68p Offer: 00:70p Today we have Volvere shouting that their latest offer is a 20.5% premium on yesterdays closing price. Think!!!!!! This is a 20% loss on the value of NMT's shares from when they took control of NMT. Using their expertise as Directors they have spent a year doing little but devaluing the share by 40%+ and now they have the front to offer a 1 / 3 share swoop to their company. Having seen the treatment dealt out to NMT shareholders in Their YEAR of office. What makes them think that we wish to become Volvere shareholders only to be give more of the same treatment. Will post again later. pc |
Posted at 14/9/2006 15:19 by waldron Volvere agrees to buy NMT Group for 5.3 mln stg in sharesLONDON (AFX) - Volvere PLC said it has agreed to buy the whole of investing company NMT Group PLC for 5.3 mln stg in shares. The company said it is offering NMT shareholders 1 new Volvere share for every three NMT shares. Based on Volvere's closing price yesterday of 182.5 pence per share, this values each NMT share at 60.8 pence and the entire company at 5.3 mln stg. Volvere, who already hold a 29.9 pct stake in NMT, said this represents around a 20.5 pct premium on NMT's closing share price yesterday of 50.5 pence. It said it has already had an undertaking to accept the offer from Wood Hall Securities who hold around 16 pct of NMT shares. newsdesk@afxnews.com rar |
Posted at 16/8/2006 15:21 by wild bill You were spot on PC, I think they read your comments and posted ASAP!Holding(s) in Company RNS Number:7528H NMT Group PLC 16 August 2006 NMT Group PLC 16 August 2006 NMT GROUP PLC ("NMT" or THE "COMPANY") The Company Secretary has received notification today from Volvere plc ("Volvere") that Volvere has acquired 1,306,600 Ordinary Shares of GBP4 each in the Company. Following this transaction Volvere has an interest in 2,604,683 Ordinary Shares in NMT, representing 29.9% of NMT's Ordinary Shares in issue. NMT also announces that Volvere has today notified the Company that it is no longer interested in any contract for difference over the Company's Ordinary shares and that its beneficial interest in the Company is therefore unchanged. Enquiries NMT Group plc Jonathan Lander 0207 7979 7590 This information is provided by RNS The company news service from the London Stock Exchange END HOLILFLRTFIRLIR |
Posted at 28/3/2006 05:28 by grupo NMT happy to see back of 'small child' Gyllenhammar SIMON BAIN March 28 2006 NMT, the former Scottish medical technology group now controlled by financial investors Volvere, said yesterday it was happy to see the back of another financial investor, Peter Gyllenhammar. The outspoken Swedish investor, who in recent years has bought and sold substantial stakes in a string of tiny Scottish listed companies, yesterday sold a 14% stake in NMT a few weeks after picking it up. Earlier this month, Gyllenhammar called for NMT to give its cash back to shareholders and claimed that its management arrangement with 29.9% shareholder Volvere was "unethical". Yesterday, NMT responded that having Gyllenhammar on the register was "like having a small child to deal with". The Swede's shares, acquired at 52p, were sold at 58p, netting Gyllenhammar a £75,000 profit on his outlay of £650,000. Gyllenhammar bought most of his 14.6% stake in NMT in February from Bluehone, a London-based investor which had supported the bid by NMT's former board to resist the coup by Volvere last September. Yesterday, NMT said Gyllenhammar had sold almost all of his 1.26 million shares to Wood Hall Securities, a vehicle for Andrew Cohen, founder of the Betterware home delivery group. Gyllenhammar has also held substantial stakes in Murray Financial, where he agitated unsuccessfully for a return of capital, IndigoVision, and AorTech. Jonathan Lander, chief executive of Volvere, responded yesterday: "I don't think Peter Gyllenhammar is really about long-term investment, he is about being an activist, and in this case I don't think he got what he wanted ... When Gyllenhammar has 15%, it is like having a small child on your shareholder register because it needs constant attention. It is unbelievably time-consuming and it was almost impossible to deal with him." Gyllenhammar was not available for comment last night. Lander added: "From an NMT perspective we want to focus on what we do best, which is investing the money in something interesting." Gyllenhammar had called for the group's £6m of cash to be returned to investors as Volvere had failed to find a better use for it since the boardroom coup six months ago. However, Lander said NMT would reveal its investment strategy at results next month. |
Posted at 05/3/2006 05:39 by waldron Sun 5 Mar 2006Lander rejects calls to return £5m NMT cash DOUGLAS FRIEDLI JONATHAN Lander, the investor activist who took control of former syringe maker NMT last year, has rejected calls for £5m to be returned to shareholders, and insists he will publish a strategy for the failed business within weeks. Peter Gyllenhammar, a rival activist who has built up a stake of almost 15% in NMT, last week called for most of the Livingston company's £6m cash pile to be returned to shareholders. He also accused Lander, his brother Nick and fellow director Lord Kalms of being "unethical" for setting up a potentially lucrative management incentive scheme at NMT. Speaking to Scotland on Sunday, Lander said NMT's 6,500 shareholders would benefit more if the company's cash pile was reinvested. Most investors have seen the value of their investments collapse since NMT was the darling of the Scottish technology sector in the late 1990s. He said: "If we do [return cash] the only person that will make any money is Peter Gyllenhammar. "I think most people want to make some money back. [Gyllenhammar] has only been on the shareholders' register for a few months. "I invest in technology companies and growth companies. We are trying to get some value out of NMT's assets." Lander said he had drawn up a strategy for investing NMT's cash pile, which would be sent to shareholders in the next few weeks. "There are just a few people looking at it now," he said. Lander defended the fee structure which transfers money from NMT to Volvere, which is run by the Landers and Kalms. He said: "Gyllenhammar calls it unethical, but he means it is disadvantageous for him." "The fee is £5,000 a month per person, which puts me on £60,000 a year, which is a lot less than I get from other businesses. For me, NMT is a full-time job at the moment." In addition to that £15,000 monthly fee for three directors, Volvere is entitled to a payment proportionate to any rise in NMT's share price, and further cash if the Landers and Kalms are removed from the board. The Landers' supporters say the fee structure is necessary to allow them to focus on running the business and reduce the danger that they will be removed suddenly by antagonistic shareholders. However, Gyllenhammar rejected Lander's plan to invest NMT's cash pile. He said: "The only thing of interest is what I can do with the 65p per share, or whatever it is, that I am entitled to by my NMT share. "Do I want the Landers to manage that for a horrendous fee structure, or do I want the money out of the company to invest however I want? "They are putting the cart before the horse by asking investors to approve the investment plan after they have approved themselves an expensive contract." Gyllenhammar was initially positive about Volvere, but turned opponent when the company announced its fee structure the day after he raised his stake to 14.6%. He could combine with private shareholders to call an extraordinary general meeting to oppose the Landers, but said the expense would prevent him from doing so. This article: Last updated: 05-Mar-06 00:32 GMT |
Posted at 26/2/2006 01:50 by 25october1969 Scotland on Sunday 26th Feb 2006NMT directors' rewards 'unethical' PETER Gyllenhammar, the activist investor, has attacked the directors of cash shell company NMT, chaired by former Dixons boss Lord Kalms, as "unethical" and demanded that the former syringe developer return £5m to its shareholders. Gyllenhammar, who holds just under 15% of NMT, was left fuming after the Livingston company's board approved a fee system which will reward Volvere, a company which shares three directors with NMT. The reward system was announced the day after Gyllenhammar spent around £500,000 to raise his stake in NMT to 14.6%. Speaking from his base in Sweden, Gyllenhammar said: "This is totally unacceptable. If Volvere had come to me and asked to manage my money, I would have said no. It is not ethical conduct because 70% of shareholders do not have a say." Gyllenhammar said he had confronted NMT directors Jonathan and Nicholas Lander about the fee structure, which he said could net them millions, but had not received an adequate response. He said: "I think the best thing would be to cancel this agreement and hand the shareholders all the cash, allowing a small portion, say 10%, to stay in the company to be a vehicle." The Landers and former Dixons chairman Lord Kalms of Edgware are directors of Volvere, an investor activist company based in London. Lord Kalms' son, Richard, is also a director of Volvere. The three were elected to the board in place of the previous management team after Volvere took a 26% stake in the company and called an extraordinary general meeting. NMT, the former darling of Scotland's medical technology sector, has around £6m in cash left over from years of fundraising and restructuring. Gyllenhammar said the new management fee structure should have been put to shareholders. The precise terms of the agreement have left some investors scratching their heads. NMT will pay Volvere a monthly fee of 0.25% of its net assets, or around £15,000. Volvere is also entitled to a performance fee equal to 20% of any increase in the company's share price. If NMT terminates the agreement, Volvere is entitled to 6% of the company's net assets, or around £360,000, plus another unspecified payment based on "the value of an option using the Black Scholes model". Gyllenhammar said this termination clause would make it expensive for shareholders to follow the example set by the Landers and Kalms by calling an extraordinary general meeting to take control of the company. He said: "I don't know what to do. This is a complete scandal. If I call for an EGM, there will be significant costs." Volvere argues that the new fee structure is less expensive for NMT than the previous model. Under that deal, Volvere was entitled to £60,000 per month plus VAT for every month that NMT was subject to a takeover approach. That structure, introduced on November 26, came to an end on February 9 - two weeks after NMT ended takeover discussions with Zi Medical. In theory, that means that NMT will have to pay Volvere £140,000 including VAT for the two months to January 25. Shareholders have raised questions over the fact that non-executive directors George Wardale and Lex Gold were said by NMT to have consulted the company's adviser, Shore Capital, and approved the fees agreement. Wardale joined the company just hours before the fee structure was announced. NMT's shares closed at 57.5p on Friday, down from a peak of 62.5p when the new management fee structure was announced on February 10 |
Posted at 30/9/2005 08:27 by pc4900074200 From Volvere's Intrim report issued this morning.Holding in NMT Group PLC Starting in October 2004 we accumulated a holding of 2,269,024 ordinary shares of #4 each in NMT Group PLC ("NMT") representing 26.04% of the total issued ordinary share capital of that company for an aggregate cash consideration of #1.47m. At the end of the period the investment in NMT was #0.39m (2 July 2004: nil). NMT is a licensing and development company for safety needle-based medical devices. For the six months ending 30 June 2005 NMT's interim results showed a loss before tax of #0.5m on sales of #nil. At that date NMT's net assets amounted to #6.76m, of which cash represented #6.51m. In view of NMT's poor financial performance, Volvere requisitioned an Extraordinary General Meeting of NMT in order to remove that company's board and replace it with executives from Volvere. On 14 September 2005, NMT shareholders voted in support of Volvere's resolutions and your Chairman, Chief Executive and Chief Operating Officer were duly elected to the board of NMT. Since that date Volvere re-financed part of its holding by disposing of 1,306,600 shares in NMT and entering into a long Contract for Difference ("CFD") over the shares sold. The CFD provides us with an economic interest in the share price of the shares sold whilst freeing up cash for other investments. Following the sale Volvere holds 962,424 shares, or 11.05 pct of NMT's issued share capital but with an economic interest in 2,269,024 (26.04%). At the average price at which the Company acquired its shares (including the shares subject to the CFD) we consider the shareholding in NMT to represent an attractive investment opportunity. We are working hard to maximise the value of this investment and will report on our progress in due course. pc |
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