Promethean Share Discussion Threads

[vinyy] 02/1/2003 09:38

Anybody

Why the tick up today ?

[hallow] 31/12/2002 08:37

Halfpenny you are an idiot can't you think of another format for your stupid posts all over these boards

[halfpenny] 31/12/2002 07:33

looks like these are to drop again.....2p to come sooonnnn


2p to come ....risky

[jojaken] 24/12/2002 05:56

Thanks ccraig69,

I was aware of the lastest news from the action site, but considering the distraction that DAG could become I still feel my post was relevant.
Anyway, I have written a letter to Paul and posted it on the Action site message board in hopes of some clarity as IMO the two campaigns cannot be taken to be entirely independent of each other as one can and will distract from the other.

Ken

[jojaken] 24/12/2002 00:46

Responsible Lad,

But if Paul Scott is going to pursue Digital Animations, which is going to be just as large a mouthful as PPL, just how many PPL shares do you think he can afford at these prices? As someone looking to buy back in, I need reassurance that he's not spreading himself too thin. Especially as from what I can see, the institutions are not quite as ready to throw in the towel with PPL as with DAG where 3I has clearly given up all hopes on DAG being anything more than a shop to do low-quality commodity work.

If Paul is around, your thought on the comparative merits would be welcomed too.

Ken

[ccraig69] 23/12/2002 17:48

Ken check out

[vpmd7afto] 20/12/2002 00:48

Broker to broker deals - but there is alot of activity

[responsible lad] 19/12/2002 15:30

Apparently there is hardly many shares left held by institutions. I have seen more buying today by Paul Scott. Looks like the Action Group now stand about a 95% chance of winning.

[mcel101] 18/12/2002 16:59

2M shares changed hands in one trade today, with no effect on the price...

[eugene1234] 16/12/2002 00:21

Small investors threaten to break up PPL

ANDREW MURRAY-WATSON
[e-mail]


PAUL Scott, the activist investor at the centre of an attempt to break up Edinburgh biotech firm PPL Therapeutics, upped the pressure on the beleaguered firm yesterday, after his action group became the largest shareholder block.

Scott claims the group, which represents disenchanted small investors in PPL, now holds 11.1 of shares - ahead of INVESCP Perpetual UK with 10.9% and Aberforth Partners with 10%.

The action group wants to unlock value in the company by returning its cash pile to shareholders and to seek takeover bids from third parties.

Scott said: "In the last three days, 22 new supporters have joined, meaning that the group now represents an unprecedented 117 private shareholders in PPL Therapeutics. Furthermore, 18 existing shareholders - including myself - have taken advantage of the lower share price to buy more shares.

The widespread buying sent PPL’s shares soaring 33%, or 1.75p, to 7p on the back of some frantic buying.

Scott added: "We are expecting a response from the company any day, which has now taken about a month for them to prepare - typical of the disdain reserved for small shareholders at most struggling companies.

"PPL badly needs an agent provocateur to make something happen. In the absence of any news from the company we can only assume the worst - ie more cash burn, with no prospect of a return for shareholders."

But a spokesman for PPL said: "Paul Scott will be treated like any other shareholder of the company. You can assume that if he requests a meeting, we would very much consider it."

Scott has a history of taking the cause of the underdog to break up companies which he perceives are underperforming. In the past he has targeted Expocentric, Actinic, Teamtalk and Protagona. He wants to force PPL to hold an extraordinary general meeting in a bid to leverage the votes of his action group.

PPL employs close to 150 people, the bulk of which are based in Edinburgh. Any successful attempt to break up the company would inevitably lead to large scale job losses and deprive Scotland of one of its highest profile biotech prospects - which achieved world renown in 1997 with the cloning, in partnership with the Roslin Institute, of Dolly the sheep.

The company is currently valued at about £8m, despite having an estimated £20m in the bank. Scott’s group has already said it will accept a bid for the company of 14.7p per share, or £18m.

It is believed that one PPL shareholder has made a tentative approach to German pharmaceutical giant Bayer about a possible bid. The Edinburgh company is working with Bayer on its flagship emphysema treatment, alpha-1 antitrypsin, which is not expected to reach the market until 2007.

However City sources yesterday downplayed the likelihood of Bayer being interested in making a takeover approach.

One analyst, who declined to be named, said: "Why would they want to take on all the risk?"

Geoff Cook, PPL’s chief executive, hopes to raise vital funds by off-loading the company’s US-based xenotransplantation business and by making proteins for other companies.

Earlier this year the US division created five ‘knock-outR17; piglets with organs that could eventually be used in human patients.

[responsible lad] 13/12/2002 11:43

A lot of buying again now, like last week when they were just 6p to buy.

[jimbo11] 13/12/2002 11:19

Action group puts pressure on PPL board
Wednesday November 13, 2002 00:05

PPL Therapeutics has been warned that it must take immediate steps to demonstrate the commercial value of its drug development programmes or face a collapse in shareholder confidence.


Paul Scott, an investor activist who has launched an action group pressing for change at the Midlothian firm, said that PPL was in danger of being bought on the cheap and broken up since its market value was well below its cash reserves.

Unveiling the campaigning website at www.savedollythesheep.com yesterday, Mr Scott said that PPL's management needed to prove the viability of its intellectual property while showing how it would continue to fund operations from 2005 onwards when, according to Mr Scott, it could run out of money.

A takeover by Bayer, the German pharmaceutical giant, would offer the "quickest and cleanest route for shareholders", Mr Scott claimed. Bayer, which is co-funding the development of PPL's flagship emphysema drug, acquired a 3.7% stake in the company last year.

[jimbo11] 13/12/2002 11:19

strong buy..

[responsible lad] 13/12/2002 11:19

Hi Hugepants,

I have a stockwatch list which is called Hugepants and moiniters all the shares you are into. I started doing this when I reminded myself of how well you did on Protogana and the remarkable performance of Goal in one week, and I have noticed some of your other shares have made 20-100% gains to.

Another plan of mine is to jump into the next Paul Scott Action group company straight away. If I kept doing that this year I would of been a wealthy man by now.

Investors have to relize that just because they won the last ones a lot quicker, some will take more time. There is no such thing as a sure thing in the short term.


Kind Regards
Stephen

[jollyjohn] 13/12/2002 10:20

Hugepants, posting at 0403, 0457 and 0824, is it PPL or other holdings that are disturbing your slumber? :)

[hugepants] 13/12/2002 08:24

RL
PPL is already my biggest holding but will top up if it falls much further. Apparently one of the institutions are still dumping their shares.

[responsible lad] 13/12/2002 08:18

Hi Huge Pants,

Yes my mum did come in on this lot and she actually owns 3/5 of the shares. We would be buying in again today if we had any more money since it is back to what we paid at 6p to buy. I expect you are now keeping a very close eye on the price to maybe top up again.


Kind Regards
Stephen

[jollyjohn] 13/12/2002 08:01

Extract from Paul Scott's latest bulletin board posting:

"PPL need to wake up to the fact that shareholders have had enough. There is no automatic right for the company to continue burning up shareholders cash.
PPL has to justify its continued existence, or shut down.

Several well-heeled members of the Action Group have made it clear to me that they are prepared to fund legal action against the Directors personally if they drive this company to financial oblivion."

Doubtless it won't come to this, but it turns the heat up a notch.

[hugepants] 13/12/2002 04:57

To the initial poster,

The Action Group Will Fail? Hey dont beat about the bush. Anyway you're wrong. Here's my worst case estimate for break-up value:

Cash of 6p (after closure costs and say a few extra months cash burn). Sell property for 4p (on balance sheet as 6p). Sell piggies IP for 2p (probably worth 3-4p). Assigning zero value to drugs pipeline gives 12p a share for shareholders. Thats worst case break up value IMO. Oh and there is also a flock of sheep on the balance sheet worth 0.8p a share. Lets not forget the sheep.

However a break-up will never happen because no-one wants that. IMO the company will be sold because its the only option. Geoff Cook says larger pharmas have never been previously interested in buying the likes of PPL. However valutions are totally bombed out now like never before. For 15p, a predator will effectively pick up the company for nothing.

[hugepants] 13/12/2002 04:03

Responsible Lad ( LOL.......you have got to be kidding ),

Agree cheapest bio out there, worth buying Action Group or no Action Group. Did your mum buy some this time as well?

HP