Sinclair Pharma Share Discussion Threads

[steeplejack] 08/4/2014 07:20

I think your option B is probably the most likely.Can't say I'm keen on the going private choice.

Tosca have bought a further 3% of the equity in the last fortnight taking it's holding to 27%,so it's holding is up some 10% since last August.Axa hold 10% .There won't be much "free float" left soon !

About Toscafund
Toscafund is the leading global financial services hedge fund manager with $7 bn of funds under management and a net 18% annualised gains since inception more than 8 years ago. Toscafund was recently a core member of the Virgin consortium, the preferred private sector solution to the rescue of Northern Rock, a UK bank now nationalised. Toscafund believes other such opportunities could emerge and that it is well placed in such circumstances.

Source: Daily Mail (February 2014)
Extract: Hats off to Martin Hughes. Tosca Mid Cap, his UK activist fund, has won the Eurohedge 2013 specialist equity award for the second consecutive year, recording a 44 per cent gain which followed a 60 per cent leap in 2012.
Hughes says Redrow, Regus, Daisy and Findel were outstanding performers over the period. With the fund up 1.5 per cent in January against the general friendless trend, Hughes could be celebrating a hat-trick this time next year.


This isn't a fund to let the grass grow under it's feet.Something's afoot.There are parallels.Tosca holds 28% of Daisy and recently talks with Liberty Global broke down re a takeover.Thinking it over,I think Tosca might try and broke a deal that results in SPH being taken over, if a comparison with what's happening at Daisy is anything to go by.Taking SPH private strikes me as unlikely on balance.

[red ninja] 02/4/2014 06:43

Egg,

It seems you want someone from Tosca to answer your questions and that is pretty unlikely.

The options appear to be:

a) Tosca buy up to 30% and then stick with that to enjoy future SPH success.
b) Tosca buy up to 30% and then launch full takover alone or as a group to take SPH private as they have a stratergy which they believe will make SPH much more valuble.
c) Tosca buy up to 30% and then support a takeoverbid by others for a quick 10-30 of current price.

Personally I would go for option b), but it is just idle speculation on my part.

Red

[eggbaconandbubble] 01/4/2014 20:29

Can anyone get a true experts opinion? I've asked around to no avail.
It is certainly beginning to whiff of something.

[dealit] 01/4/2014 18:38

Various Brokers have had these a strong buy with target prices ranging from 38p to 50p. It would seem that the MM`s have held the share price down so that Tosca can gain control cheaply IMHO.

[hazelton] 01/4/2014 18:20

Indeed it is getting unconfortably close to the limit. Why no more noise than this ?

[dealit] 01/4/2014 17:51

Yes but if they want to own SPH they need to offer I feel more than 33p to other institutions and private investors. IMHO Tosca may be building there holding to pass on SPH to a big Pharmaceutical. I cannot find out any history of Toscas involvement with other Companies i.e. gaining control.

[eggbaconandbubble] 01/4/2014 16:41

So the highest price paid in last 12 months is only about 33p.

[dealit] 01/4/2014 15:59

Yes you are egg: "When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained)." According to the news release they have just short of 27%..

[eggbaconandbubble] 01/4/2014 15:16

Tosca now added another 10.3 million. An additional 3.5m odd and they will have to make a bid. Am I right?

[dealit] 31/3/2014 15:53

Yes, would not call it bailing out share price moves North today, news brewing perhaps.

[eggbaconandbubble] 31/3/2014 15:34

AXA bailing out now?

[dealit] 28/3/2014 11:22

You could be correct the Directors do not own massive amounts of shares no problem their for Tosca. With future growth and good products SPH would be cheap at 35p talks maybe underway with investors at what price though? All IMHO.

[eggbaconandbubble] 28/3/2014 10:09

Do you think they will take it private at a price that gives Tosca a reasonable return, say 35pish?

[dealit] 28/3/2014 09:43

Well indeed something is going on here interesting time IMHO.

[eggbaconandbubble] 28/3/2014 08:23

Just looked on the company's website and Blackrock have sold all (or maybe nearly all) their 24 million shares. That is SIGNIFICANT!

[eggbaconandbubble] 28/3/2014 08:18

The RNS has not even come out on ADVFN...?

[eggbaconandbubble] 28/3/2014 07:42

Judging by past experience they won't but then........

[dealit] 28/3/2014 07:34

Yes, I am confused also Brokers rate SPH between 38p to 50p do they also know something we do not? Only time will tell they should move North today IMHO.

[eggbaconandbubble] 28/3/2014 07:24

I think that RNS is inaccurate. 21st Nov RNS stated they had 91 million which was 21%. I thought an extra 28 million was a bit much. Still an additional 15 million is a big lump! Maybe best to wait till they've sorted the figures out.
All said and done the question remains.......What are Tosca thinking or what do they know or even what do they think they know???

[dealit] 28/3/2014 07:14

Toscafund announcement today they have bought 28m more shares, they know own 25% of SPH.

[dealit] 26/3/2014 10:59

The Brokers still seem to rate SPH from 36p to 50p. IMHO there will be jam tomorrow, love the word growth and paying debt off.

[red ninja] 26/3/2014 05:59

Trade volume yesterday of 42,716,894, didn't realise 1ch1ban held so many SPH.

[mirabeau] 25/3/2014 11:39

Anyone looking at Randall's new baby listing this Friday, Venture Life Group plc ?

mkt cap - £25m
cash raised - £5m

[1ch1ban] 25/3/2014 09:41

Jam tomorrow. So that's me, I'm off. 'Money better invested elsewhere' - dead right. GLTA

[eggbaconandbubble] 25/3/2014 07:21

Still watching........yawn!