Oxford Nanopore Technolo... Share Discussion Threads

[cir] 20/4/2004 02:43

This prolonged bidding process is doing untold harm to ONT. The management is sitting on the sidelines. Sales for the busy summer season are way below expectations because of the uncertainties associated with the takeover. Potential customers are looking elsewhere for travel technologies. ONT is paying i-bankers for advisory fees and, should the bid fail, LMC would not have to pay ONT a zilch for compensation.

Selling out for half of gross sales (55/105=0.52) is not bad. Take a look at what Ebookers shares are trading at: 0.37(=192/521)!

[haribo1] 19/4/2004 17:13

I'm still hanging on in there. Nothing to lose really.

[bob725] 18/4/2004 11:48

Have most people sold now then?

[cir] 18/4/2004 04:47

This is a quiet thread because the game is up.

I am not suggesting that ONT has got a full price from the LMC bid. But I think it is a fair price considering the other opportunities available in the market. Ebookers is a point in case.

Do some maths and you shall know what I am on about.

[shooting star] 16/4/2004 11:55

WOW - this is a quiet thread.

Are the current board of ONT acting in the best interests of shareholders when they recommend the LMC paper offer? Or are they perhaps looking at personal gains to be made by recommending it?

If they are not persuing the former, they are failing in their duties and acting with gross negligence.

Perhaps they need to reconsider their stance and even their positions on the Board given the lack of support amongst normal shareholders for the LMC opportunistic (or pre-arranged before the ONT fundraising?) bid.

[mikeran] 11/4/2004 19:37

Lastminute.com (217p) has announced the departure of vice-chairman and major shareholder Clive Jacobs. From May 13 Jacobs will be free to sell his 3.9% stake, currently worth around £25m. There is mounting speculation he will dump a significant stake. Sell. Telegraph as above.

[tamaybroke] 11/4/2004 12:03

SUNDAY TELEGRAPH RECOMMENDS SELL FOR LMC (217)

[cir] 10/4/2004 13:19

By the second closing date of the offer(29/04/2004), LMC can do three things if it fails to secure 90% acceptances:

(1) keep the offer open in the hope of further acceptances;

(2) raise the bid if it clearly sees that it needs to offer more; or

(3) let the bid lapse if it does not fancy its chances of winning.

Since LMC already has control and has declared the offer unconditional as to acceptances, the bid goes through if the other conditions - admission to the
Official List of the UK Listing Authority and admission to trading on the London
Stock Exchange of the New lastminute.com Shares to be issued pursuant to the
Offer becoming effective - are met. (2) and (3) are much less likely than (1).

[evansj] 10/4/2004 12:28

What does 'unconditional' actually mean and what are the practical effects of a bid being declared unconditional?

We don't have to sell if they don't have 90% but is there any point hanging on?

As ONT's price is lagging the offer price, this indicates that the market does not think that there will be a counter-offer.

[cir] 10/4/2004 02:43

The bidder gets control of the target company when acceptances are over 50%

Between 50 and 90% the bidder has the option of letting the bid lapse or declaring it unconditional.

Above 90% the bid HAS to become unconditional. The Companies Acts allow the bidder to acquire any remaining shares compulsorily when it already has over 90% of the shares it bid for.

[bob725] 09/4/2004 18:14

Can somebody answer a few questions?

Why does LMC need 75% ? wouldn't 51% be enough to control the company?
And if they don't receive the desired level and have to improve the offer what price do you think ONT would go to?

Thanks in advance!

[martynfergusonjones] 09/4/2004 07:13

stand firm guys LMC are struggling

[spud] 09/4/2004 07:06

Absolutely not!!

LMC still have not got the 75% and are dragging this out for all they are worth. Interesting to note that the % acceptance required is losing steam.

Anyone for an improved LMC multiplier??

spud

[cir] 09/4/2004 02:09

this board is dead.

have you guys accepted the offer?

[spud] 06/4/2004 23:27

Yes,me for one pretty damn pronto.

spud

[cubabuckley] 06/4/2004 14:47

One of ONT's largest, if not the largest shareholder is seemingly not going along with the LMC bid, and I doubt if many private shareholders will too! My guess is that it will be a close run thing for LMC to get 75% by Thursday....perhaps another extension??

Any waiverer ought to look at the ADVFN Bulletin Board for LMC and you will see why so many question their accounting methods...

I know for a fact that many large individual investors simply don't want LMC shares and will offload in the unlikely event that the deal goes through!

[mikeran] 06/4/2004 07:14

I think there is a little bit of orchestration from the city- LMC probably shorted after the analysts meeting. Or after the next deadline, when figures stated might be nearer to what LMC need. ?/ my view.

[saint or sinner?] 06/4/2004 06:55

Not so impressed with LMCs trading update. Looks like they are admitting they need ONTs recently raised cash pile.

0 ;-D

Saint

[jecs] 05/4/2004 18:02

Online retailer Lastminute.com also jumped, topping the list of mid-cap gainers with an 8.8 percent gain. The company is set to update on trading on Tuesday morning, followed by an investor day, and dealers reported talk the news would be good.


(Thanks to jetpac on iii)

[cir] 05/4/2004 14:32

what's up with LMC?

The shares are doing extremely well in a flat market.

[cubabuckley] 05/4/2004 13:52

We now have just 3 days to go before LMC will have to extend again. Hopefully only a few more have gone along with the deal..remember the institutions who came in at 15p (after the clandestine offering by Altium/ONT Board a couple of months ago)were always going to accept, perhaps even an Altium stitch up!!!

The ONT board also felt they had to throw their shares. My guess is that the board felt that the LMC bid would flush out other buyers which unbelieveably has not happened..perhaps not enough time???

Everybody who has not accepted should have a careful look at LMC..before doing anything hasty...Just look at the posts on LMC...THEY ARE STILL MAKING LOSSES AND SOME GUYS FEEL THEY WILL RUN OUT OF CASH BY THE END OF THE YEAR.

Rumours abound that ONT have signed their biggest contract yet...much bigger than Cooks..yet because of the takeover rules are unable to announce anything!!!

There is no question that ONT is financially secure and should remain independent rather than put ther cash and solid business foundation into a rocky LMC operation.

It will be interesting to see whether the institutions who have not committted to the deal have the guts to stand firm..LMC could not go ahead with less than 75%

There is always such jiggererapokery that goes on in The City I wonder if they really have 50% signed or just verbally committed?

[spud] 02/4/2004 15:30

LMC shorts closing forcing ONT multiplyer.

spud

[glidedj] 01/4/2004 15:22

Cir - that's been the message for quite some time, but where is the profitability ?

[cubabuckley] 30/3/2004 09:28

Reckon LMC will simply want 75% in order to consolidate, so won't have to get 90%. What are the chances? It needs some more Goldman Sachs buys!!!!!

[cir] 27/3/2004 06:32

CFO says Lastminute.Com is a growth stock moving rapidly towards profitability