Progressive Dig Share Discussion Threads

[johnjackson5225] 07/8/2006 09:44

Well, I *still* don't own any shares of any sort (haven't summoned my courage yet) but commiserations to those that do.

JJ

[alibongo612] 07/8/2006 09:41

Fair play to them they are obviously experts at bleeding dry as they all but extracted the very last penny off the corpse,well as near as dammit.

[exile] 07/8/2006 09:18

Gould and Harding....pair of crooks...should have their houses taken from them and banged up for 7 years, hard labour. Bet they are laughing their nuts off.

[alibongo612] 07/8/2006 09:15

Well what a surprise I don't think.

Well at least my warning some months ago that it might go bust fortunately did not come to pass however for shareholders a distribution of 0.4p per share is not much different.

Woodford has clearly worked hard in very difficult circumstances and must be furious with the mess he inherited.

However as PRO had £4m cash after the sale of pharma with hind sight liquidation should have taken place at that stage.

Gould and Harding have a great deal to answer for and something really should be done.

However we all know it won't.

[rebel] 07/8/2006 09:04

john,

all to do with Chinese wall's that don't exist

[johnjackson5225] 07/8/2006 08:58

If they knew the 0.4 pence figure...and the share price was 0.75 pence, isn't that supporting a false market and hence illegal?

JJ

[rebel] 07/8/2006 08:53

7 August 2006


Provalis plc


Proposed disposal of the Diagnostics business and proposed Members' Voluntary
Liquidation


Provalis plc ("Provalis", LSE: PRO) has agreed to sell its medical diagnostics
business for effective consideration of #1.6 million through the sale of the
entire issued share capital of its subsidiary, PB Diagnostics Limited to
Bio-Metrics (U.K.) Limited, a subsidiary of Bio-Rad Laboratories, Inc., subject
to shareholder approval.


Following the completion of the sale of the assets of its pharmaceutical
business, Provalis Healthcare, on 20 February 2006, the Company has continued to
focus on resolving the technical issues relating to the in2it product and
exploring the commercial options available for this product, as outlined in the
interim results statement on 7 March 2006. The Company has made good progress
in resolving the technical issues associated with in2it but does not have the
resources to re-launch the product and maximise value through the exploitation
of the product, especially in the US market. The Board believes the terms of
the Disposal represent the most viable option for the Group to obtain value from
the Medical Diagnostics business.


Conditional upon completion of the Disposal and also subject to shareholder
approval, the Directors propose placing the Company into a members' voluntary
liquidation and cancelling the Company's listing of ordinary Shares on the
Official List.


The Directors, having discussed the matter with the Liquidators, expect that, in
aggregate, an amount of approximately #1.4 million will be available for
distribution to shareholders. This represents approximately 0.4 pence per
ordinary share. No distribution to shareholders under the Liquidation will take
place before 1 August 2007.


Following the extraordinary general meeting to approve the Members' Voluntary
Liquidation, Peter Woodford will resign as Interim Chief Executive, Alan Aikman
will resign as Non-Executive Chairman and Lee Greenbury will resign as director
and company secretary of the Company.


Full details of the Disposal and Members' Voluntary Liquidation are set out in
the circular to shareholders, which will be posted to shareholders in the near
future.


Dr Alan Aikman, Non-Executive Chairman, said:


"The executive team has worked very hard to achieve this outcome in difficult
circumstances. Having explored a number of options including partnering
arrangements and the possible sale of individual products, we believe that the
Disposal represents the best option to obtain value for the medical diagnostics
business and to secure the best result for shareholders as well as employment
for the vast majority of the Group's employees."

[pwal] 07/8/2006 07:36

Pre trading MMs have marked PRO down 40%!

[digger27] 04/8/2006 09:13

Whats wrong we havent dropped the obligatory 3% this morning?!

[eurofox] 03/8/2006 20:46

its certainly gone too far now - sell up at at least have the benefit of a realisable capital loss

[alby220] 03/8/2006 19:39

Thank you for all your advice, i was thinking of investing in PRO.as i have seen a few companys recover from this type of low S.P. but as you say i think this one sadly may be too far gone.

[dh1967] 03/8/2006 16:53

My point exactly from earlier in the week. Just let us know something good or bad.

[rankor] 03/8/2006 14:58

They must be trying to sort out the cartride. What happened to the external consultants and on going sales etc?

[digger27] 03/8/2006 13:59

dh1967 my sentiments exactly but you beat me to it.

[dh1967] 03/8/2006 11:44

If we carry on losing 3% a day then first week of September it will be all over.

[digger27] 02/8/2006 23:17

alby - there isnt much cash left and as the company has been quiet for so long I reckon the end may not be too far away. I am still waiting to hear from company on a number of points raised but the silence is deafening. It will probably be academic now and I have reluctantly concluded my £30k investment is worthless.
A very big thank you to all past and present directors of pro - hope you sleep easy in your beds at night.

[alby220] 02/8/2006 14:14

Is there any positive points in provalis? does anybody think they may fight back, to previous share price levels?and finally is there any cash left for them to continue into the future?
Regards Alby220

[digger27] 01/8/2006 15:57

JJ- thats ok. Most threads look silly in hindsight. Ive actually got some of these in an isa circa 28p when i thought they would take off and save me from the clutches of the taxman!!! Got a bill from my broker the other day for managing the isa account which exceeds the value of the isa. Told him he can sell it and not to bother sending any more bills!

[johnjackson5225] 01/8/2006 12:50

Hi Digger

Yes - didn't mean to be tactless. Sorry. I was really just highlighting that ramp threads always look a bit silly in retrospect.

J

[dh1967] 01/8/2006 12:16

As the shares are worth about a tenth of what they where this time last year something or anything from the company to it's shareholders would be nice.
Even if it's "we're still working on it" or "we're still experiencing problems"
As I've got nigh on 20k tied up in this lot I think it's not to much too expect.

[digger27] 01/8/2006 11:56

Dan - I have emailed the company with your questions apart from the last one as it is rather contentious. I have added a few questions of my own and will see if they reply. They never replied to my previous email so not holding my breath.

My gut feeling is it is heading to oblivion especially with the further recent drops in the share price and no comment from the company.

[digger27] 01/8/2006 11:24

JJ - spose it is funny if you dont hold a shedload of these like I unfortunately do!

[johnjackson5225] 31/7/2006 16:53

Just thought it'd be funny to get a thread with this title to the top of the PRO stack.

J

[digger27] 31/7/2006 12:49

Down again which is starting to look bad with the lack of news.