Phytopharm Share Discussion Threads

[gerhart] 24/7/2013 19:52

No we're not going to be disappearing anywhere, just hope the shareholder with a foot in both camps (its in RNS) values their PYM buddies at least as much as the target buddies.

On the RNS, same with lots of these, but the repetition is endless!

[ewads] 24/7/2013 17:56

gerhart - the fact is,the BOD have done something, and let shareholders know. That's a great start. Whether we get shafted, that's another matter. There is activity; so it hasn't yet headed off into that black hole vacuum that a lot of other suspended funds have.

[gerhart] 24/7/2013 12:09

Ewads not sure what your so wrong about. Admission to AIM comes in Sept, but we may remain suspended until completition of reverse takeover of target further down the road. (AIM listing makes takeover "easier")

One of our main shareholders is also, as I understanding RNS, a shareholder of the target. I wonder how that will work out in terms of cutting the deal. Hope we don't get shafted!

[ewads] 22/7/2013 19:11

moneymachine2 - looks like I was wrong!

Phytopharm plc : Cancellation of Listing and Admission to AIM
19/07/2013 | 09:38am
19 July 2013

Proposed Cancellation of Listing and Admission to AIM

Phytopharm plc announces that it will today post a circular to shareholders convening a General Meeting to be held at the Company's offices, Lakeview House, 2 Lakeview Court, Ermine Business Park, Huntingdon, Cambridgeshire PE29 6UA at 10 a.m. on 5 August 2013 at which it will seek shareholder approval for the proposed cancellation of admission to the premium segment of the Official List and to trading on the London Stock Exchange's Main Market for listed securities and detail its intention to apply for admission to AIM, adoption of an Investing Policy and undertake a share capital consolidation.

The circular will be available shortly on the Company's website at www.phytopharm.com and will be submitted to the National Storage Mechanism where it will shortly be available at www.morningstar.co.uk/uk/nsm

Background to and reasons for Cancellation and Admission

On 21 May 2013, the Company announced that it had signed heads of terms in connection with the possible acquisition of a revenue generating UK-based private company in the healthcare sector. Whilst the Board initially was planning to seek shareholder approval for the acquisition of the a revenue generating UK based private company in the healthcare sector at a General Meeting to be convened in due course, after which the Company also expected to delist from the Main Market and seek admission of the enlarged share capital to trading on AIM, the Board and the Target believe that there are a number of benefits from transferring the Company's quote to AIM before a definitive agreement is reached with the Target. Upon Admission to trading on AIM, the Board expects the Company to be classified as an Investing Company (defined as an AIM company which has as its primary business or objective, the investing of its funds in securities, businesses or assets of any description).

The Board believes that AIM is a more appropriate market for a company of Phytopharm's size and that a transfer of the Existing Ordinary Shares to trading on AIM should lead to lower ongoing costs associated with being a publicly quoted company and a simplification of the Company's administrative and regulatory requirements. It also believes that AIM will offer greater flexibility, particularly with regard to corporate transactions, and should therefore enable the Company to agree and execute certain transactions more quickly.

In addition, the Company intends to consolidate its existing ordinary shares on the basis of 1 consolidated ordinary share for every 50 Existing Ordinary Share in order to create a share capital base which is more consistent with that of companies with a similar size.

[jondev] 22/7/2013 18:00

I just received a corporate action saying my shares will be consolidated at 1 : 50 and a meeting with shareholders will be held on 5 aug to seek approval for transfer to aim which they expect to happen on 3 sept. no mention of the pharma they are merging with?

[moneymachine2] 16/7/2013 10:03

Ewads, looks like you could be right.

[ewads] 17/6/2013 06:51

However optimistically you hope for early re-entry, there are always reasons for delay. Based only on my own experience of pharm and bio cos, 6 months would be a very good outcome. Hope I'm wrong of course!

[mrsapeslaptop] 16/6/2013 20:11

its at least 30 days. However all the major shareholders will be on board already I expect. so not long now basically.

[moneymachine2] 13/6/2013 11:34

Not six months, should hear something sooner, well i hope.

[ewads] 10/6/2013 07:51

jondev - imo, minimum 6 months

[gerhart] 09/6/2013 12:55

Jondev, no one can know. Depends on whatever BOD can agree with (reverse) takeover target. That then has to be put to a shareholder vote and then after that (assuming agreed) the shares will be un-suspended. And hopefully share price will come back with an nice shoot upwards!

[jondev] 08/6/2013 22:15

Does anyone know how long the shares will stay suspended for?

[mrsapeslaptop] 23/5/2013 09:33

interim results. this is the interesting bit

" Following the disappointing results from the CONFIDENT-PD clinical trial, no further research and development expenditure has been committed on these programmes and the Group is in discussions with an external party regarding further research being conducted on these compounds. Any such research would be carried out under licensing arrangements and Phytopharm will retain a commercial interest in any future milestone and royalty revenues."

[ewads] 23/5/2013 06:38

"signed heads of terms for the possible acquisition of a revenue generating UK based private company in the healthcare sector."

There's not many of these about!

[moneymachine2] 22/5/2013 12:15

still holding quite a few so lets see what Thursday brings, hopefully more details and good news.

[gerhart] 21/5/2013 17:46

Interesting that they didn't hold this announcement back until figures announcement this Thursday. Maybe that's when we will get more details. Fingers and legs crossed!

[mrsapeslaptop] 21/5/2013 09:12

aim vs main market. slightly lower fees, lighter regulatory touch. not ISA ble and slightly more problematic fundraising. However if no prospects of fundraising doesn't matter.

As intrigued as all as to who the target is.

Depending on their focus, I would quite like the ALS preclinical work to be restarted as we have the asset and interest, but was stopped when PD trial failed.

we shall wait and see what transpires................

[gerhart] 21/5/2013 08:43

We don't know the terms yet. But two things disappointment me a little: 1 - they describe the potential TO target as "revenue" generating as opposed to being "profit" generating and 2 - they are coming off the main market and going down to AIM.

I think I am right in saying over 80% shares held by 3 Insts. So On the plus side it means we wont be over a barrel in terms of the deal (I hope) But I wonder how going down to AIM will impact on them. Also maybe the new Co will be close to profit, and hence why our tax losses will be of interest.

So here's hoping!!

[derekhales] 21/5/2013 08:36

Thanks greedfear - Guess PYM s/h will lose some value in the RTO transfer, if/when it finally transpires. That's another thing, I'll bet it won't be quick!

[cudman] 21/5/2013 08:34

Fair play MrsA, you called it right.
Hope it turns out well for you all.

[greedfear] 21/5/2013 08:26

Investors in PYM do not lose their investment. If you find this difficult to understand than you could compare this to PYM buying (the shares of) an another company and paying with PYM shares.



{I like it. The new company (PYM + the other) keep the cash, are revenue generating while PYM tax losses can still be carry forward (provided the new shareholders in the new company hold less than 25%)}

[derekhales] 21/5/2013 07:32

MrsA /mm2 - grateful for your insight as to what might happen next.
Will PYM shareholders lose their investment?

[curlly] 21/5/2013 07:06

So who is the target?