Promethean Share Discussion Threads

[hugepants] 05/2/2004 21:18

Last results here ( show net tangible assets of 12M.

PPL said assets have been written down to REALISEABLE values and, given the majority of assets are cash AND a 1.25M profit has been gained in 2 recent disposals then I think this figure should be viewed as prudent. Also the drugs pipeline (Fibrin1 , ReCAAT and BSSL) are not capitalised under assets.

Worth noting that there are 'investments' of 625K under fixed assets. This is the 22.5% holding of Revivicor, the xenotransplantation disposal announced earlier this year. Im not sure how likely PPL are going to realise this amount on a forced disposal. However revivivor did announce a 1.9M US grant in July. See www.revivicor.com

So if we assume we have 12M to start with what costs are going to come off of this?

From the last annual report ( the directors were on approx 750K per annum. The contracts are described as 12 month rolling contracts and therefore Id assume that director pay-offs would be no more than 750K? And how much to pay-off 40 or so remaining employees? Lets say 1.75M to pay off directors and employees.

How much for KPMG to wind-up the company? Lets say 750K which seems unbelieveably high for a job that could probably be done by a well-trained monkey. How difficult is it to organise the sale of a few assets?

Cash burn on maintaing 40 or so employees? This is interesting because I reckon they've burned 1.35M (lets round up to 1.5M) since end of June 'maintaining' their IP. Now surely then it is logical to assume shareholders will receive at least as much as this when the drugs development program is sold? Otherwise why maintain something that has no value? Why indeed but this is PPL so lets assume this money is disappearing into a black hole.

Lease liabilities? They do have a commitment of 180K for a lease that expires in greater than 5 years time. Guessing but say 500K to exit lease?

So by an incredibly inaccurate series of wild guesses I reckon shareholders will be left with at least 12 - (0.75 - 1.75 - 1.5 - 0.5)= 7.5M or 6.25p per share. This assigns no value to the drugs programme and assumes that everything will be wound up in the next few months.

[pawsnjaws] 04/2/2004 14:44

Daniel????


That I find interesting is RGT involved in Alz.. I don;t know anything about the share.


Now... reason I came here. do you think if we all pool our shares we could own the company?

[daniel333] 10/1/2004 12:50

Any RGT holders might like to know that Pfizer may be backing the develpoment of thier treatment for Alzheimer,s. This report came from thisismoney, late Friday

[hereshoping] 11/11/2003 10:43

An announcement!!
Not 1 share traded,good to see the rest of the world is apathetic about ppl as myself.I,for one,sincerely hope that this fiasco,hangs like a noose around the necks of the (former)board of this company,and one day Mr Cook et al will face some kind of consequence for their actions.

[marktw] 10/11/2003 08:19

Lack the name Arthur. Appropriate for this dog (or should that be sheep...)

[arthur_lame_stocks] 07/11/2003 15:47

The company is up for sale, that's where they're going. If they don't find a buyer very, very soon then they're going to simply wind it all up and give back any leftovers to the shareholders.

Arthur

[crystalclear] 07/11/2003 13:04

So what's the basic story with PPL and AAT?

Question, not statement:
Bayer had a rival product going for £25,000 a treatment. PPL comes along with the same for much less. PPL think that they could take Bayer's AAT market away from them, if they could find a partner. Obvious partner is Bayer, so that they could stay in the game. Bayer sign an exclusivity deal, but quite smartly don't agree to quantities or dates, or leave themselves a loophole. PPL management walk into a trap, fall for it hook line and sinker. PPL has its key product pulled from under it, loses a main source of future revenue, and hits hard times financially.

Is that basically what has happened?
Or could PPL partner with somebody else for AAT?
Or are AAT delays genuine and Bayer a cooperative partner, not a shafter?

Anyone an idea on where the company is going, rather than where it has been?

[marktw] 04/11/2003 07:52

What's sad is I still hold some of these. Bought in at 6.79 and watched it drift down ever since. Still a chance to offset all those capital gains elsewhere :-(

[oswd] 03/11/2003 22:40

I remember the times when ppl was on the leading edge of technology with significant portfolio of products in development. Look at ppl now!. so sad.

[mjcrockett] 03/11/2003 22:20

A couple of reasonable sized trades today. One 800K logged as a buy at 4.75p and 500k logged as a sell at 4.5p. It will be interesting to see if any of the reportable holdings are involved in these trades.

MJ

[crystalclear] 04/10/2003 12:51

are considering options to maximise return....

Like the large shareholders form a consortium to bid for the company's assets?
And then the less they pay the better, as they are only buying what they already own, and some of the cash would go to the small shareholders.
Then when they relaunch things, they will own say 100% instead of say XX%.
Maybe they don't like the idea of instututions always bailing out the small shareholders and this represents a chance to get even.

Just cynically thinking outloud. Thoughts are based on mistreatment of small investors that I have seen, and is completely unfounded speculation re PTH. Treat it as humour and not as a prediction!

[dell314] 22/9/2003 08:41

Some interesting articles posted by Hugepants on TMF.



At least there is a suggestion that large shareholders are considering options to maximise return.

Rgds
dell

[damanko] 18/9/2003 10:48

Sell, sell, while you still can, and this thread has a reason for existing....

[hugepants] 17/9/2003 00:18

Someone appears happy to mop up stock at 5p.

[mjcrockett] 16/9/2003 22:14

Dell,

I think you're right everyone's using Paul Scott's guess of 6p. At this stage any estimates can only be very approximate - there are so many unknowns.

MJ

[marktw] 16/9/2003 17:37

I still haven't decided wether to seel up everything, hold, or buy some more... Its a toughie.

So far I'm leaning to a sell... but I'll probably change my mind b4 I push the button.

[mjcrockett] 16/9/2003 17:04

The Times suggests that the eventual pay off will be around 6p a share, but it could take a year to come. This price seemed to be on the assumption that they would not get anyone to pay much for the existing products. So you can buy today at around 5.4p and you should get 6p in a year - that's an 11% gain with a chance of getting more if anyone is interested in paying money for the existing business. There are risks!!

MJ

[landsker] 15/9/2003 15:14

well the market obviously thinks the break up value is worth no more than the current 5p share price, what a shambles of a company this has been, good riddance to the bosses who stepped down today, they are ok they have made a tidy amount out of the ppl venture, more than can be said for its investors

[humphries27] 15/9/2003 15:09

hi all just got email PAUL E SCHEDER ABOUGHT 750,000 PTH SHARES @ 4.875 ON 12/9/03 hope it means some thing to you all.

[hereshoping] 15/9/2003 08:34

At bloody last!!!!
Anyone care to hazard a guess on the break up value??
12 mill assets,but does that include the property ar todays prices?I also presume that the tax credits would have some value??

[campbed] 15/9/2003 08:29

All it means is that PPL have put themselves up for sale and so come under the rules of the Takeover Code. This was confirmed with the announcement today in their interims to 30 June that they are seeking to realise the net assets of the company.



What a debacle. Cumulative losses now close to £110m.

BTW, Advfn show 240m shares listed but the correct number is 118.6m (118,582,994 to be precise) for a mkt cap at 5.5p of £6.5m.

[gazzabutty] 09/9/2003 16:37

Sounds good, but what does this mean? Anyone shed some light?


RNS Number:5609P
PPL Therapeutics PLC
09 September 2003



Date: Immediate, Tuesday 9 September 2003

Contact: Geoff Cook, Chief Executive Officer
Lindsay Dunsmuir, Chief Financial Officer
PPL Therapeutics plc Telephone: [phone]



Alistair Mackinnon-Musson
Philip Dennis
Hudson Sandler Telephone: [phone]

Email: [e-mail]









PPL Therapeutics plc ("PPL")







In accordance with Rule 2.10 of The City Code on Takeovers and Mergers, PPL
Therapeutics announces that it has 118,582,994 ordinary shares in issue of 1
pence each.



The International Securities Identification Number for PPL Therapeutics ordinary
shares is GB0006657448.