Oxford Nanopore Technolo... Share Discussion Threads

[bhafc] 03/3/2004 13:51

Anyone playing into the market maker hands and selling these at 27.5p should take themselves off to a quiet corner and have a strong word with themselves.

[bob725] 03/3/2004 13:02

Well I'm holding. In my case its not worth selling since I make only a very small amount of profit. Hoping for a rival bid.

[hirschnathan] 03/3/2004 11:19

disgusted. hope we get a better deal

[a0148009] 03/3/2004 11:18

Good timing those ONE MIILION SHARE OPTIONS AT 20p the directors were granted on the 12th January 2004.Eh -What

[a0148009] 03/3/2004 11:03

An institution has told me they read ONT as in play. Therefore the 5% limit on price is the get out for the irrevocable acceptances (not absolute commitment).This is really code for inviting other offers and expecting them.
Lets see what ebookers et al have to say.Stick with your shares.

[i_need_help] 03/3/2004 10:55

I would think this is a done deal and it sucks but private shareholders have very little power to stop it happening. I think a counter bid is unlikely.

[old boy returns] 03/3/2004 10:44

barnetpeter - yes great deal for LMC, stitch up for ONT. Even with this LMC shares aren't even worth 50p on fundamentals and prospects let alone 230p. They have never made a real profit and trade on a PER of over 100 to the meaningless adjusted profit figure they spout. The real value of this bid is under £10M IMHO and it should fail. How the ONT management have the gall to recommend it I don't know.

[barnetpeter] 03/3/2004 10:20

Fair suggestion Old Boy - but I do think LMC has pulled off a deal here. Not only do they get all these websites and contracts but they get the cash just raised. All with paper. Just as importantly, they knock out the no3 opposition.

[old boy returns] 03/3/2004 10:11

A0148009 - oh yes the placing was 'necessary' because it put enough cheap shares into the right hands to make this low LMC paper bid a goer. The whole thing stinks of a pre-planned City stitch up. It is very ironic for me as I have held ONT as a hedge against my short LMC position. Quite a shrewd strategy for ONT shareholders not impressed by this (most apart from those who bought at 15p I guess) would seem to be to sell short the number of LMC shares you would get for your ONT shares if the bid succeeds. This way you lock in your proceeds now and have the potential of extra profit if LMC shares fall in the market and the bid fails. The downside is that you will not benefit from the event of LMC shares rising from here (unlikely imho).

[bhafc] 03/3/2004 10:05

Sit absolutely still

I would be hopeful that the US could provide a cash bid which would be more attractive.

IMHO

[a0148009] 03/3/2004 09:58

As far as I know there is nothing to stop the institutions that have accepted the offer increasing their stake buying your shares at 28.5p in the market thus assisting the bid.Ironic as it has turned out the placing was unnecessary - certainly not to that extent.However LMC needs the cash the balance sheet is very weak, loaded with fixed bond debt and intangible assets so they need the additional capital.Wait for those large holders who did not get 15p stock to have their say.

[bob725] 03/3/2004 09:46

Some people mentioned waiting until interim results out - some selling now.

Would selling now and then buying back in later be a good option? Or just staying out for now.

[oldtown] 03/3/2004 09:41

bob sold about half my holding, happy to hold as long as LMC does not go into freefall.

[le turk] 03/3/2004 09:37

Damn knew this was going to be let go cheaply. it was obvious from the way the price was forced down each time it began to rise.....damn damn. Im disgusted and out!

[bob725] 03/3/2004 09:36

Is everyone going to sell? or wait?

[oldtown] 03/3/2004 09:31

Whoever was buying in blocks of 250k late yesterday was either mystic meg or just good old fashioned MM whackers.

[a0148009] 03/3/2004 09:28

Selling at 28.5p same as LMC offer at 216p. Dont give it to the arbitragers.

[tulk] 03/3/2004 09:17

Some have not the nerve to survive the shock, main thing is price still up with all the sales, and money indicates flow-in, all indicators looking good very good. Will ends today higher then it opens.

[a0148009] 03/3/2004 09:17

If you sell in the market you play into LMC's hands by giving them cheap stock, institutions will soak it up and make another nice turn.

[barnetpeter] 03/3/2004 09:14

Buba - because the offer is all share, LMC price is now key. That has fallen today by 3% and perhaps folk do not want to wait to see. Above 29p was not far off the real market value.

[buba] 03/3/2004 09:12

I still don't understand why there are so many sellers at this price,below bid value!!!!!

[tradx666] 03/3/2004 09:07

AO148009,

Totally agree, this may well not be over yet by a long way.

[a0148009] 03/3/2004 09:03

A counter bid above 32.55 would negate all acceptances except directors 2.6%. The 5% condition relates to the 18.3% acceptances. This is very early in the bid process - hold on and see what happens over the next couple of weeks or so.

[tradx666] 03/3/2004 09:02

Lectern,

The smart play here might be to await the final result, let the glee die down on LMC picking up ONT cheap and take a large spreadbet down on LMC, my view is that some of the larger shareholders here may not want to hold onto LMC (fully valued IMHO) paper for too long..risky, but worth a punt in my view..

Keep smiling all!

BHAFC - what say you !!!??