Promethean Share Discussion Threads

[tonyleongson] 23/5/2003 08:45

nice tick up. errr i think i'm in profit!

[tonyleongson] 23/5/2003 08:24

we're number one on the % gainer toplist!
only bought £5k as everything else is in CRI and ISYS.

[tonyleongson] 23/5/2003 08:17

look at the historical volumes traded. we're already over a million. last time this share topped a 1M was in 28th april. and is only 8:15am. hmmmmmm.

[burbelly] 23/5/2003 08:07

in for a few let see where we go!

[ccraig69] 22/5/2003 23:49

Great news, Metage go head to head with managment to get their own director on the board a Mr William McCall. I will be voting to appoint this director and hope many others will to.

[cvolbrac] 22/5/2003 17:31

Good news at last :

[dell314] 22/5/2003 10:46

Huge - Can buy PTH at mid lately(doesn't suggest they are in much demand!).
Only KBCS left on bid, so they could fall further IMHO unless they announce something positive.

[hugepants] 22/5/2003 10:43

Thanks Im just going to register!

BTW The ADVFN price on PPL is misleading. I just picked up some at under 5p online.

[dell314] 22/5/2003 10:41

Huge - I'm not sure whether Mr.Gyllenhammer's interests coincide with ours....
(P.S. Times registration is free).

‘Value investor’ lobbies Aortech
Victoria Masterson



PETER GYLLENHAMMAR, the Swedish “value investor”, is lobbying the board of Aortech to invest its £6m cash pile into his property businesses.
He is thought to have told directors of the Bellshill medical device firm that they could reap returns of more than 10% if they moved the firm’s cash out of the bank and into his property companies, which include Montpellier Group and YJL Homes, both UK companies registered at the same address in Cornhill, London.

Gyllenhammar, who owns 9.81% of Aortech, claims the firm could make its cash work harder, allowing it to invest more in its Australian Elast-Eon business, which has developed a polyurethane material for body implants.

A source close to Gyllenhammar said: “I think it’s important when there is so much cash on the balance sheet in relative terms — £5m to £6m is a lot of money — that in a low-interest, low-inflation scenario you don’t put it on bank deposit at 3%. Property can yield 8% to 9%, so rather than make £200,000 of interest, you can make £500,000 or £600,000 or £700,000 income and get a far better resource to invest in the Elast-Eon business.”

An industry source said Aortech was “a medical devices company not a property leasing company,” and added: “) isn’t interested in the business, he’s just interested in the cash.”

Another industry source claimed that Gyllenhammar had a classic modus operandi that involved agitating boards to “sell assets to him for less than they’re worth or to buy assets from him for more than they’re worth.”

“The question is are these deals being done on commercial terms?” the source asked.

Gyllenhammar dimissed these criticisms and insisted any claims of financial pressure were “absolute nonsense”.

“I am a business developer and sometimes we act as a catalyst of change,” he said.

“Sometimes you initiate consolidation of an industry which is in need of consolidation.”;

Gyllenhammar said he was interested in buying more shares in Aortech, which has ditched its plans to commercialise a polymer heart valve in a bid to reduce its cash burn.

He has also reduced his stake in Murray Financial, the Edinburgh Aim-listed cash shell, from 29% to 10%, but is still thought to be working with Jonathan Rowland, the former dotcom entrepreneur, on a bid to have the company broken up and its cash returned to shareholders.

[hugepants] 22/5/2003 10:35

dell, I dont know what the article says because Im not subscribed. Im hoping though that whatever is good for Mr Hammer is good for us. AOR still my biggest holding.

[dell314] 22/5/2003 09:01

Huge - What were your thoughts on the Times article suggesting Gyllenhammar was lobbying Aortech to invest it's cashpile in his property portfolio?

[hugepants] 22/5/2003 08:48

Thanks, Ive been practising my mental arithmetic recently to good effect. Tempted to buy in now but think Ill wait for under 5p.

[dell314] 22/5/2003 08:41

Nice arithmetic, shame about the company!

This lot seem determined to just carry on until the money runs out, paying themselves tidy sums whilst it lasts.....

[hugepants] 22/5/2003 08:31

Just doing some quick arithmetic. Net cash about 7p per share after ALL creditors. Lets say write-down of 30% of property on balance sheet gives 4p of property. So cash + property = 11p. All the IP and the tens of millions spent on R&D valued at a lot less than hee-haw. The share price suggests all the remaining cash will be spent on nothing of value. If the past 5 years is anything to go by then this seems likely. This company should be sold immediately while there is something left to sell. dyor etc.

[vpmd7afto] 21/5/2003 13:17

Groan.....down another quarter. Loads of peeps bailing out after Paul Scotts not so positive comments on his web site.
We need some good news.

[vpmd7afto] 07/5/2003 11:54

Ahh think it could be cos of good results at Bayer?

[vpmd7afto] 07/5/2003 11:48

Anybody know why the rise today? Theres not a significant number of buys going through...yet the share rises a 1/4. (this share is not normally influenced by market conditions.......)
VP

[halfpenny] 02/5/2003 14:48

They think its all over......it is NOW.....

[bigbadgar] 30/4/2003 15:08

looks sadly bleak
G

[bigbadgar] 30/4/2003 15:08

looks sadly bleak
G

[dell314] 30/4/2003 09:27

VPMD7.

There is a lot more comment on the TMF boards, including some thoughts from Paul.

Rgds
dell

[vpmd7afto] 30/4/2003 09:18

No comments from Paul Scott yet............Think they will have to get something finalised by the AGM?

[isis] 29/4/2003 16:22

Does'nt look like there will be much left even if they do shut down.

[vpmd7afto] 29/4/2003 16:14

Bit quiet here ?
Nothing has realy changed except the company has removed the risk of a 42m debt surely. Why so many sells? Maybe the lack of any concrete positive news
Wonder when revised contract with Bayer will get finalised?