Reliance Genemedix Share Discussion Threads

[amarone] 19/2/2004 13:59

will see -30% easy on these. That's usually the bottom of peoples stop loss anymore and I'll be joining some people (especially that guy who bought 430K just before the drop) on the window ledge lol !

[seagreen] 19/2/2004 13:58

panic Mr Manwering and get out IMHO

[baker man] 19/2/2004 13:57

The addiotnal funding which they mention is more than likley from the penang deal already announced back in Nov/Dec - proceeds of around £2m - nothing has really changed, this is still an excellent company with good future growth but with most traders buying in soley on the back of the price differential between the UK & Singapore not really knowing what the company is about.

[seagreen] 19/2/2004 13:57

Beware of falling knives to quote master jhoda

[pictureframe] 19/2/2004 13:55

guys please read it properly...

there is a pending cash worries

At this point, although the Company has received some
additional funding, the cash in-flows contemplated in that announcement have not
yet been received.

[amarone] 19/2/2004 13:52

Big Tee shaking - I'm getting back in at these levels. How many times have companies had to issue statements re:price movements only for us to find out that they were just hacked off that the cat was out of the bag!

[timbucktoo] 19/2/2004 13:51

no reason for the drop, there after your shares,cheap

[pictureframe] 19/2/2004 13:48

At this point, although the Company has received some
additional funding, the cash in-flows contemplated in that announcement have not
yet been received.

[pictureframe] 19/2/2004 13:46

Yuk,

do I not like that RNS...cash crunch on the cards..this will tank

[seagreen] 19/2/2004 13:46

last one out is a sissy

[techair] 19/2/2004 13:39

RNS out on GMX

[baker man] 19/2/2004 13:38

GeneMedix PLC
19 February 2004



GENEMEDIX PLC


Statement Re: Share Price Movement

GeneMedix plc ('the Company'), the UK biopharmaceutical company with operations
in Europe and Asia and with joint London and Singapore Stock Exchange listings,
makes the following statement regarding its share price:

The Company notes the significant increase in its share price following its
announcement on 16 February 2004. The Company wishes to clarify the position in
relation to the significant potential transaction referred to in that
announcement and its current financial position and prospects.

The potential transaction referred to in the announcement of 16 February 2004 is
at an early stage of negotiation. For the avoidance of doubt, no outright cash
offer for the Company has been proposed and the Directors do not believe that
any such offer is being contemplated.

The Company announces today that it intends to release its preliminary results
for the 12 months ended 30 November 2003 on 26 February 2004.

Since the announcement of its interim results for the nine months ended 31
August 2003, in which the Directors highlighted the Company's need to focus on
preserving its cash balances, the Company has continued to operate on a cash
flow negative basis. In that announcement, the Directors expressed confidence in
receiving cash in-flows in the very short term to cover the Company's immediate
cash requirements. At this point, although the Company has received some
additional funding, the cash in-flows contemplated in that announcement have not
yet been received. However, the Directors remain confident of securing
additional cash in-flows in the near future.

The Directors will keep the market informed of developments.

19th February 2004

ENQUIRIES:

GeneMedix plc Tel: [phone]
Julian Attfield, Chief Financial Officer

Bankside Consultants Tel: [phone]
Michael Padley/Susan Scott

Further copies of this announcement are available from the Group's head office -
Rosalind Franklin House, Fordham Road, Newmarket, Suffolk, CB8 7XN

[andyprice5569] 19/2/2004 13:26

Hi Amerone,


'Does anyone know the costs of listing a stock on the NYSE/NASDAQ ?'

I've no idea I'm afraid.


'I'm pretty sure that it's quite an expensive excercise especially when you have to convince your US house broker that you are really worth taking on in the first place.'

There did not seem to be a problem judging from the dates of articles referring to when they got themselves a strategic adviser to look at the US to when they appointed a US banker. Seemed very quick in fact which leads me to believe that part of the process was already underway (the hard part - finding a US partner/buyer) and just the formalities needed to be sorted out re banker, etc. Would a US banker come 'on board' so quickly if their was not something semi-definate in the pipeline already ??

Regs, Andy

[captainspock] 19/2/2004 13:18

Looks like we might have to wait until midnight before we see any more action today !!!!!!!!!!

[captainspock] 19/2/2004 12:59

nikesh2......

No comment !!!!!!

[nikesh2] 19/2/2004 12:51

as soon as ive made profit from carbo
im back in to gmx

[captainspock] 19/2/2004 12:18

Well the wave of profit-taking has subsided for the moment and after all the euphoria of the last few days, especially yesterday a few buys now showing up.

I fully expect a slight tick up as the day goes on, but very strange reactions to events in Singapore, IMHO.

First the price zooms up previous day but the UK market did not catch up the %age rise (presumably due to the track back late that day in Singapore ?), then it falls back in Singapore last night, only for the UK not only to catch up the %age fall, but overtake it !!

Not sure what Nomura are up to though 100k & 392k sold yesterday, but they also bought 135k yesterday ??

Incidentally, if nikesh2 was so confident why did he not sell half on profit & keep the rest running, after all he was predicting a 30 to 40p target by tomorrow at one stage, which now seems highly unlikely as far as I can see, although as we all know the direction of this share is primarily dictated by sentiment in Singapore.

However I do suspect the buyers will return in Singapore tonight if the pattern of the late trades there last night are anything to go by, which would logically be followed by an upturn tomorrow.

[techair] 19/2/2004 10:58

trumpet - ive no idea sorry. It was just my take on the RNS. Looking at the balance sheet (and possibly what EK picked up on ) they need cash to see things thru so it looks like thats what the 'transaction' is all about at a guess.

Still like the prospects for the company but might just have got ahead of things a bit.

Rgds

[amarone] 19/2/2004 10:36

Does anyone know the costs of listing a stock on the NYSE/NASDAQ ? I'm pretty sure that it's quite an expensive excercise especially when you have to convince your US house broker that you are really worth taking on in the first place. Many HR/HR companies have tried to do this and have been sent packing, so they must of liked what they heard. IMHO

ps. nickesh2 - good for you. You bought low and sold high and that's the way it should be. (can't believe anyone would knock you for that)

[baker man] 19/2/2004 10:12

This appears to be the reason for the lead in Asia



Talks with MNC set ablaze demand for GeneMedix February 19th

By SERENA NG


(SINGAPORE) The Singapore market's only pure biotechnology stock, GeneMedix plc, yesterday gave an inkling of the huge potential new developments that the pharmaceutical industry could bring when its shares shot up two-thirds in a single day on hopes of a merger with a US giant.

GeneMedix's shares, which had already gained nearly 30 per cent on Tuesday to 56 cents, yesterday jumped to a two-year high of $1.12 in intraday trade before ending at 92 cents, up 36 cents or a hefty 64 per cent.

Some 31.3 million of GeneMedix shares were traded yesterday.

The two-day share surge boosted GeneMedix's market capitalisation to some $275 million, from just $130 million on Monday.

Investor euphoria over the counter was attributable to a Monday announcement by the London and Singapore-listed drugmaker, which had revealed that a 'significant transaction' was being negotiated with an international pharmaceutical products company.

Loss-making GeneMedix, which was responding to recent market speculation, also said the talks 'may or may not lead to a merger between the two companies', adding it had recently indicated it was looking to access the US markets.

Last week, the UK-based biotech firm also announced that it is working with the Bank of New York to establish an American Depository Receipt Programme on Nasdaq.

GeneMedix cited its interest in accessing the US capital markets, which it said have tremendous interest in the emerging field of biogenerics, or generic therapeutic products that are produced through modern biotechnology processes.

While GeneMedix, which makes protein-based drugs, did not name the company it is in talks with, market players concluded that the potential partner was probably an American firm with a sizeable presence.

Bloomberg News also quoted the group's chief financial officer Julian Attfield saying that the talks, though preliminary, are focused on forming a collaborative partnership rather than a takeover by a potential buyer.

GeneMedix's London-listed shares, meanwhile, have also more than doubled since the start of this week.

The company was listed in Singapore on Dec 1, 2000, one day after listing on London, and its initial public offering (IPO) shares had been priced at 90 pence or $2.22.

The stock subsequently hit a high of $3.06 here in February 2001, while its record low of 31.5 cents was seen earlier this month on Feb 2.

Amid yesterday's stunning share price surge, some market players in Singapore reacted with scepticism.

Said one active trader: 'It's a ridiculous price, and my gut feeling is that it's all hyped up. I did not like the fact that the stock ran up for a few days and then the company made its announcement.'

He added that the sharp run-up might lead the other party to pull out, especially if a share swap was being planned.

But for other market watchers, the volatility of GeneMedix's shares was seen as a reflection of the high risk-to-reward factor of biotechnology stocks, as such companies tend to be mired in losses for years before getting a big break.

GeneMedix reported a net loss of 4.8 million (S$15 million) for the nine months to August 2003, versus a net loss of 6.6 million a year ago.

In 2002, a local biotechnology start-up, Rockeby Biomed, was turned away by the Singapore Exchange because of concerns that the company could not turn profitable within 12 months.

Rockeby, which is managed by mainly Singaporeans, successfully listed in Australia at the end of 2003 after raising A$4 million (S$5.3 million) in an IPO at 20 Australian cents each.

Its shares yesterday ended at 18.5 Australian cents

[nikesh2] 19/2/2004 10:03

only had 15k

[optimist23] 19/2/2004 10:03

Hi captain, took a 200 pounds loss, the price has support at 18.5 pence, if it breaks that then next support is at 13 pence. Just keep an eye on the price.

GoodLuck.

[captainspock] 19/2/2004 09:52

Well, well, well what a surprise, nikesh2 has chickened out & ran presumably with a decent profit in the process ????????

I take it that trade no. 42 was his @ 9.21am (38639 shares sold). I bet he/she is having a fair old giggle at the expense of those less fortunate who bought in at above the current price- call it hard cheese if you like, but he/she must be a bit of a smarmy git !!!!!!

At least he/she could have admitted to us in advance of selling out that he/she got it seriously wrong ???

Well we live & learn & I certainly will not pay any attention to any of his/her rantings again & I suggest everyone else does likewise.

[nikesh2] 19/2/2004 09:47

sold out at 18.55p
may buy bak in soon
trying to make more money elsewhere
gd thing

[trumpet] 19/2/2004 09:42

Techair,

OK, so rather than licensing off the drug line one by one for different areas the company is teaming up to relase the portfolio (or large part of it) with a single partner?