Promethean Share Discussion Threads

[mjcrockett] 04/6/2004 16:03

6.2p it is. Well done to Metage for sticking out for a higher figure. Nonetheless, a sorry end to PPL's stock market history.

MJ

[terropol] 12/5/2004 17:10

6p is possible. Just a guess but possible.

[feelinlucky] 29/4/2004 15:50

LOL...

I think this will go the same way as DOLLY went..

STUFFED IN A BOX ...

LOL

[gazzabutty] 22/3/2004 10:59

More news out. third party looking to take them out.

[gazzabutty] 11/3/2004 13:57

The rns states that there was a big buy yesterday. Must be optimistic. Im lost totally

[marktw] 11/3/2004 11:52

Think you're right Adam. Unfortunately.

[adam] 11/3/2004 01:41

OR beligerent?

[mjcrockett] 10/3/2004 22:16

Dell, I agree with your comment from yesterday. Surely Metage (assuming it is they who have broken up this deal) must know roughly how much the shares would be worth if the company is liquidated. There can be no other reason for turning down 5.5p UNLESS they are confident that they can more for it. I would have thought that they must expect at least 15% more (i.e. 6p+)to allow for the risk and delay.

Metage bought over half a million pounds worth of PPL shares at around 6p per share last June, at a time when it was fairly clear that the company would be sold off. Were they Optimistic? Stupid? OR..... Astute? Time will tell.

MJ

[bigbadgar] 10/3/2004 14:33

Well lets hope something is done before our money is washed down the drain. Bloody PPL piece of sh*t

[crystalclear] 09/3/2004 16:00

PPL THERAPEUTICS PLC ("PPL" OR THE "COMPANY")

UPDATE ON PROPOSAL, MEMBERS' VOLUNTARY LIQUIDATION

ALMOST CERTAIN





On 4March 2004, PPL announced that it was continuing discussions with a key
shareholder in order to try to obtain its support for a proposal under which 5.5
pence per share in cash would be returned to shareholders by way of a scheme of
arrangement and the Company would be de-listed and become wholly owned by the
executive directors of the Company, Adam Christie and Lindsay Dunsmuir (the "
Proposal").



The non-executive Directors of the Company (Chris Greig and Hugh Thompson) (the
"Independent Committee"), together with their advisers, have reviewed a wide
range of options over an extended period including indicative offers from third
parties and a members' voluntary liquidation. The Independent Committee had
concluded that, subject to sufficient support being received from major
shareholders, the Proposal offered shareholders both more certainty and a higher
financial value than would have been achieved under the other proposals
received. Further it believes that the cash distribution which could be made to
shareholders under the lengthy and uncertain process of a members' voluntary
liquidation is unlikely to be materially higher, if it were to be higher, than
the cash distribution offered under the Proposal.



In orderfor the Proposal to be completed, it would require (amongst other
things) the support of a majority in number of shareholders holding at least
three quarters in value of the Ordinary Shares for which votes are cast at a
shareholders' meeting. In light of the need for this level of shareholder
support and before formally putting the Proposal to shareholders, the
Independent Committee sought the backing of the Company's largest shareholders.
Shareholders with an interest in approximately 30 per cent. in aggregate of the
Ordinary Shares had verbally indicated their support for the Proposal. However,
a key shareholder was undecided.




The Independent Committee regrets to announce today that this key shareholder
has declined to give its unconditional support for the Proposal. As a result
the Independent Committee considers that it is reasonably likely that the
Proposal would not receive sufficient support at the requisite shareholder
meetings to enable it to proceed. If the Independent Committee had decided to
continue with the Proposal without the support of this key shareholder and the
Proposal did not become effective, it would have resulted in increased costs to
the Company, which would have reduced the amount of funds available for
distribution to shareholders under a members' voluntary liquidation, and would
also have delayed the distribution of the funds. Therefore, the Independent
Committee has decided not to proceed with the Proposal. The Independent
Committee is not in discussions with any other party concerning the sale of the
Company and it is therefore almost certain that the Group will be put into a
members' voluntary liquidation.


Further details will be announced to shareholders shortly.

[dell314] 09/3/2004 12:53

Presumably, if Metage have blocked the "continuing director" offer, then they must consider that there are other routes to a higher shareholder return.

Rgds
dell

[gazzabutty] 09/3/2004 12:49

Big sell off today, does this now mean we wont even get the 5.5p?

Better not be.

[pennywize] 09/3/2004 08:46

I'm surprised that this BB is not more active - I don't own shares in this company. I did hear on Radio 4 this morning that PPL is about to call in the receivers.

[landsker] 25/2/2004 18:14

yeah its all over now, lots of people made money out of this company in shares and from earnings, and who paid for it all? the shareholders of course, same old story , it amazes me that a company that did so much ground breaking scientific work could not come up with one single product that worked, well lessons learned by us all i hope, dont believe the hype next time.

[gazzabutty] 25/2/2004 10:29

here we go, looks like they are selling up! Id hope we get around 5.5p at the very least.

G

[bigbadgar] 16/2/2004 09:11

Looks as if they are speeding up the wrap up process, shouldnt be too long now imo.

G

[hot lips] 13/2/2004 15:19

Hi Guys,id like to let you in to a little secret..Einstein TV is getting ready toi tell us some news..I think you should take a look..Things look positively yummy..see you on there..i think EIC are about to fly..

[david beckhame] 13/2/2004 15:19

Are we going to get any money back soon from this dog (sheep)?

[dell314] 11/2/2004 11:55

biglosses - I can't see the guys who are paid to clearout being in any great rush.
However, I believe that two ex-directors had a few hundred thousand shares each, so there may be some desire to maximise value.

I wonder if they will try and utilise the shell.
Could be a good taxsaver for a profitable bio to back into.

Rgds
dell

[biglosses] 10/2/2004 21:36

Does anyone have any idea on when this company will eventually be wound up and the money distributed to shareholders?

[hugepants] 10/2/2004 20:07

I rate these a strong buy now. Biotechs are being re-rated which bodes well for PPL since they are trying to dispose of their drugs pipeline and their Revivicor stake. 7p for shareholders looks a reasonable minimum to me. cheers