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SBS Source Bio.

17.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Source Bio. LSE:SBS London Ordinary Share GB0009739649 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 17.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 17.50 GBX

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Source Bioscience (SBS) Discussions and Chat

Source Bioscience Forums and Chat

Date Time Title Posts
13/10/202012:01Source Bioscience3,371
30/7/201612:47Source Bioscience PLC12
23/5/201409:08Source Bioscience - A buywell dud - dont touch it10
27/11/200116:49SUPERSCAPE- FORWARD TO 2002-

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Source Bioscience (SBS) Top Chat Posts

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Posted at 16/9/2020 19:57 by p1nkfish
SBS due to see a public offering in Sept 2020 according to NAS results today.
Posted at 09/9/2016 00:15 by buywell3
SBS are still listed and their shares are still trading on the LSE

Somebody seems to want them at over 18p

Getting them though seems to be getting harder due to lack of sellers

Cyprotex ( CRX) doing very well now

Profits this year could now top 3m GBP

Better than even SBS profits would have been ......... how I wish
Posted at 18/8/2016 07:20 by bartdude
Posting of Scheme Document
18 August 2016
RECOMMENDED CASH OFFER
FOR
SOURCE BIOSCIENCE PLC
BY
SHERWOOD HOLDINGS LIMITED


Posting of Scheme Document

On 29 July 2016, the boards of directors of Source BioScience and Sherwood announced that they had reached agreement on the terms of a recommended cash offer under which Sherwood intends to acquire the entire issued and to be issued ordinary share capital of Source BioScience for 18 pence in cash per Scheme Share held. It was also announced that the Acquisition would be effected by means of a scheme of arrangement under Part 26 of the Act and include an Unlisted Securities Alternative.

Further to that announcement, the boards of Source BioScience and Sherwood are pleased to announce that the Scheme Document relating to the Acquisition was posted yesterday to Source BioScience Shareholders. The Scheme Document contains, inter alia, the full terms and conditions of the Scheme, an explanatory statement pursuant to section 897 of the Act, the expected timetable of principal events and details of the actions to be taken by Source BioScience Shareholders.

As described in the Scheme Document, to become Effective, the Scheme must be approved at the Court Meeting; special resolutions must be passed at the General Meeting; and the Scheme must subsequently be sanctioned and confirmed by the Court. Both the Court Meeting and the General Meeting will be held at 1 Orchard Place, Nottingham Business Park, Nottingham, Nottinghamshire NG8 6PX on 9 September 2016 with the Court Meeting to commence at 10.00 a.m. and the General Meeting to commence at 10.10 a.m. (or as soon thereafter as the Court Meeting is concluded or adjourned). Notices of the Court Meeting and the General Meeting are set out in the Scheme Document.

The Scheme Document, together with information incorporated into it by reference to another source, will be available free of charge, subject to any applicable restrictions relating to persons resident in Restricted Jurisdictions, on the investor section of Source BioScience's website at www.sourcebioscience.com and on Continental's website at www.continentalip.ch during the course of the Offer Period.

The expected timetable of principal events is as follows:


Event

Time and/or date

Latest time for lodging PINK Forms of Proxy/CREST Proxy instructions for the Court Meeting

10.00 a.m. on 7 September 20161

Latest time for lodging WHITE Forms of Proxy/CREST Proxy instructions for the General Meeting

10.10 a.m. on 7 September 2016

Voting Record Time for Court Meeting and General Meeting

6.30 p.m. on 7 September 20162

Court Meeting

10.00 a.m. on 9 September 2016

General Meeting

10.10 a.m. on 9 September 20163





The following dates are indicative only and are subject to change (please refer to note 5 below):

Scheme Court Hearing

13 September 2016

Latest time for withdrawals of elections in respect of the Unlisted Securities Alternative

2.00 p.m. on 14 September 2016

Latest time for lodging YELLOW Forms of Election / settlement of TTE Instructions through CREST

6.00 p.m. on 14 September 2016

Last day for dealings in, registrations of transfers of and disablement in CREST of, Source BioScience Shares

14 September 20166

Scheme Record Time

6.00 p.m. on 14 September 2016

Effective Date

15 September 2016

De-listing of Source BioScience Shares

7.00 a.m. on the Business Day following the Effective Date

Despatch of cheques and certificates in respect of Sherwood Share Units and crediting of CREST accounts for Cash Consideration due under the Scheme

Within 14 days of the Effective Date4


Notes:
1. The pink Form of Proxy for the Court Meeting may, alternatively, be handed to Equiniti Limited or the Chairman of the Court Meeting before the start of the Court Meeting. However, it is requested that, if possible, pink Forms of Proxy be lodged at least 48 hours (excluding any part of such 48-hour period falling on a weekend or a public holiday in the UK) before the time appointed for the Court Meeting.
2. If either of the Meetings is adjourned, then the Voting Record Time for the relevant reconvened Meeting will be 6.30 p.m. on the date two days before the date set for the relevant reconvened Meeting.
3. If the Court Meeting has not been concluded or adjourned prior to the scheduled commencement of the General Meeting, the commencement of the General Meeting will be delayed until the Court Meeting has been concluded or adjourned.
4. The latest date for dispatch of the Cash Consideration and certificates in respect of the Sherwood Share Units is 14 days after the Effective Date.
5. These times and dates are indicative only and will depend, amongst other things, on the date upon which the Court sanctions the Scheme and the date on which the Conditions set out in Part III of the Scheme Document are satisfied or (if capable of waiver) waived. If any of the expected dates change, Source BioScience will, unless the Panel otherwise consents, give notice of the change by issuing an announcement through a Regulatory Information Service and/or sending a further circular to Source BioScience Shareholders.
6. Source BioScience Shares released, transferred or issued under the Source BioScience Share Option Schemes may be registered after this date.


Source BioScience Shareholders should carefully read the Scheme Document in its entirety before making a decision with respect to the Scheme.

Terms and expressions in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in the Scheme Document.

A copy of this announcement and the Scheme Document will be made available on the investor section of Source BioScience's website at www.sourcebioscience.com and on Continental's website at www.continentalip.ch during the course of the Offer Period.
Posted at 03/8/2016 03:23 by p1nkfish
N+1 think the offer doesn't fully value SBS.

The advice is not to take the unlisted securities but SBS directors are all electing to do so.

Easiest way to keep an interest is via NASCIT.

Capitalism at work.

I have been lucky here but was intending to build a good sized stake over time. I sold out on the basis there was a risk the offer may not happen on the advice of the SBS board and lost about 0.35p or so. The take-out was probably a done deal and the confirmation delay may have been to get the Directors on board somehow. If N+1 and the Directors both came out against it would have been a problem. If I was a director I would have used that as negotiating material to increase the benefit to the Directors - sweeten the deal for us or we come out against too with N+1.

Have to wonder what the SBS directors have lined up. Keep an eye on what happens with crx that has loan notes with Trident that is related to Harwood etc. Long story there but again capitalism at work.

Good luck everyone.
Posted at 01/8/2016 07:14 by bigman
Bit surprised peterz (post3323) has a big financial loss. The board have done a remarkable job in my opinion.
10 years ago this was a basket case, shares 2-3p huge losses.
Since then we have seen a proper business being built and share price increases that at 18p no one can have a loss over those 10 years.
Opportunity to make money has beeb there all the time over the years and even an open offer a couple of years back was at 9.5p so taking that is close to 100% profit.
I am gutted that it is being taken out, but will opt for half my investment in the private company and bank a great profit.
my thanks to the board and all at SBS
Posted at 11/9/2015 14:59 by buywell2
Hello Diamond1 are you a SBS holder now ?

Shares Mags read some advfn BB's methinks





buywell3
29 Jul'15 - 08:23 - 3127 of 3213 0 0

A few thoughts

Source Bioscience had a presence in Biocity prior to this latest acquisition

From the Source Bioscience March 2015 results : 'Operational highlights

• Overnight Service™ for DNA sequencing launched from new laboratories in Los Angeles, BioCity Scotland and Tramore, Ireland


Presumably SBS had its eye on Select Pharma very soon after moving into Biocity if not before.

The acquisition of Vindon Healthcare was questioned by many.

Many investors sold up as they did not see the sense in acquiring a business that manufactured cold storage rooms.

Vindon was located in Rochdale, a new SBS production facility involving Inverclyde products has now been recently located nearby in the same Kingsway business park which allows for future product expansion



The latest Select Pharma acquisition also requires cold storage provision , not surprisingly one would imagine that Vindon units(now SBS owned) will be used in the future and most likely Select Pharma were already leasing some.


It does not take much out of the box thinking to expect SBS to replicate this model in the USA in a year or two.

The integration and replication of Select Pharma services at existing Source Bioscience USA facilities will surely come at some point soon, which will then enable greater market penetration particularly within the states concerned and the neighbouring states.

SBS has now made many acquisitions, this will be the sixth

Vindon was acquired by obtaining institutional cash at 9.5p , which was circa 23% discount on the circa 12.5p share price that SBS was trading at the time.

Select Pharma , which is a private unlisted company , has been acquired using institutional cash at raised at a share price of 14p which was the share price at the time of the announcement


Why is this ?


Private investors have all but sold out now

Over 90% of shares rested in the hands of existing institutional investors and SBS management BEFORE this acquisition

After the acquisition this figure will rise to over 95%

In short , there are hardly any shares left for PI's to trade.


The next acquisition which I expect will come within 18 months to two years , will be similar to this one with just one difference

I expect the cash raised next time will be at a premium to the SP


why ?


SBS turnover and profits for this year are already in the bag as there will be a whole years trading of Vindon products included PLUS there will be some numbers to add from Select Pharma , I now expect over £31.5m turnover ( just over a 20% 2014 rise )and this time over £3m profit, I don't expect too much in the way of charges/costs for the Select Pharma acquisition.

Also has anyone noticed that the number of distributors selling SBS Life Sciences products and services has increased to 18 from a recent 13 some 6 months ago ?

So a 2014 disappointing flat Life Sciences number should start heading north once more, plus Atlanta and the USA should start contributing.

2016 turnover and profits look set rise as there will be a whole year of Select Pharma turnover and profits to be added together with increased cross selling opportunities gained by SBS access to Select Pharma clients and vice versa


plus

there are no shares left so any new institution wanting a meaningful stake will have to pay for it.

SBS management, though I give them a hard time of it sometimes, are proving to be able to deliver the goods.

Their acquisition choices are coming good, have been bought at decent prices , the way that they are gelling together and each new one is helping the rest shows the plan is working.

Controlled growth by acquisition is the name of the game

SBS Market Cap is now over £50m , this might attract some new Institutions that have minimum market cap limits set for investment purposes.

Within 4 years I expect to see Turnover of £50m which will help to do the same

In short , SBS is starting to look like it might be another ABC


dyor
Posted at 06/8/2015 06:31 by buywell3
In the above , and I am assuming the numbers come from SBS via their NOMAD

2016 profit is expected to be £4.3m
2017 profit is expected to be £4.8m


I expect better because I expect some momentum in turnover due to increased sales traction from cross selling between new SBS customers derived from the Select Pharma client list and those existing SBS clients that will take up Select Pharma offerings ie they don't use them now.

I also expect another acquisition towards the end of 2016 or early 2017 if not before as new cash from recent acquisitions is generated.

Plus I expect SBS Life Sciences division to get back on track after a disappointing flat performance in 2014 , as a result of a recent 100% increase of SBS distributors to 19 from 9 several months back.

Also the USA should start to add to Life Sciences turnover in 2015 due to overnight DNA sequencing work

Turnover growth of circa 20% for 2016 and 2017 is doable as a result , which is nearly double that in the link.


Working on £5m profit for 2016

A forward P/E ratio for the company based upon the share price now would be 10

ie 10 times £5m = £50m

the existing Mkt Cap is £49.8m see the financial data in the header

A forward P/E ratio based upon £6m profit for 2017 would be 8.3


The current P/E ratio is 52.92 which looks quite big but is so because it reflects the expected growth in earnings

I put it to readers that with such a growth story that SBS has now emarked upon , a P/E ratio of around 20 next year would not be flattering

Such a P/E number , ie 20 , would based upon a profit of £5m equate to a Mkt Cap of £100m.

Shares in issue will then be about 345m due to the 10% increase to acquire Select Pharma

This would equate to a 2016 share price of 29p

A P/E of 20 based upon the earnings figure of 4.3m given in the link would equate to a Mkt Cap of £86m

The share price would then be 25p

I seem to remember reading 25p V 2016 , in the thread header some time ago


dyor
Posted at 05/8/2015 05:52 by buywell3
Re my post yesterday


Currently the Mkt Cap of SBS has increased by around £6m from where it was on the day of the announcement of the Select Pharma acquisition , ( share price 14p).

But £5.6m of cash has been added to the company by way of the issue of shares at 14p and the cash Select Pharma has.

So in real terms the way I currently view what the Mkt has priced in currently is only £0.4m for the value of Select Pharma above the cash



My take is that this time Mr Market has made a boo boo

Perhaps when SBS Interims come out later this month it will realize it has and the share price will reflect the both rise in SBS turnover together with what Select Pharma will bring over the next couple of years in particular.

My previous profit forecast for 2015 made last week now seems to be on the low side .... £3.5m now looks doable.

18p looks more like the share price Mr Market should have on SBS now to reflect the trading prospects and self propelled momentum Select Pharma brings ie another £6m to Mkt Cap.

If we have an update in autumn which increases current expectations , due to Select Pharma and SBS increased cross selling benefits which must already be starting to emerge as both companies inform their respective clients about new service/products offerings , then 20p by this Xmas is on .

The Life Sciences sector is the place to be.

dyor





PS

Worth a read



If you read it you will see how good the Select Pharma acquisition is .... note India comments


Re the UK .... the deloitte report got it wrong, as Cameron has put money into Life Sciences initiative as the way to cheaper effective cancer cures lies there



Re SBS expansion in the USA


I think the company needs to take note of the following
Posted at 04/8/2015 06:38 by buywell3
A 2p rise on the share price from 14p to 16p since the acquisition was announced has put approx £6.3m on the SBS Mkt Cap figure

Circa £4.4m cash has been raised at 14p and Select Pharma had a net worth of around £1.3m including about £1.2m of cash

If SBS had not bought them it looks like turnover would have increased to just shy of £2m and profits would have come in at around £0.85m

As I see it , even if SBS leave Select Pharma alone for the rest of 2015 they should add nearly £0.5m to profits due to increased sales from extra work from SBS clients

Select Pharma should turnover £3m min in 2016 and £4m min in 2017 with profits of just shy of £2m in 2017

A replication of Select Pharma in the USA , as they have FDA compliant certification for their services .... should add considerably to the above.



Conclusions

1. The 2p added to the SBS share price does not reflect the additional cash plus earnings that the acquisition will bring

2. The next acquisition should be at a premium to the SBS share price and will be oversubscribed as this one was.

3. I expect more Institutions to want to get on board and perhaps one has this time round , an RNS soon ?

4. Any PI that sold recently or in the last 2 years or does now in the next 2 years is a plonker , as Instutions want your shares .... like has been said before
Posted at 29/7/2015 07:23 by buywell3
A few thoughts

Source Bioscience had a presence in Biocity prior to this latest acquisition

From the Source Bioscience March 2015 results : 'Operational highlights

• Overnight Service™ for DNA sequencing launched from new laboratories in Los Angeles, BioCity Scotland and Tramore, Ireland


Presumably SBS had its eye on Select Pharma very soon after moving into Biocity if not before.

The acquisition of Vindon Healthcare was questioned by many.

Many investors sold up as they did not see the sense in acquiring a business that manufactured cold storage rooms.

Vindon was located in Rochdale, a new SBS production facility involving Inverclyde products has now been recently located nearby in the same Kingsway business park which allows for future product expansion



The latest Select Pharma acquisition also requires cold storage provision , not surprisingly one would imagine that Vindon units(now SBS owned) will be used in the future and most likely Select Pharma were already leasing some.


It does not take much out of the box thinking to expect SBS to replicate this model in the USA in a year or two.

The integration and replication of Select Pharma services at existing Source Bioscience USA facilities will surely come at some point soon, which will then enable greater market penetration particularly within the states concerned and the neighbouring states.

SBS has now made many acquisitions, this will be the sixth

Vindon was acquired by obtaining institutional cash at 9.5p , which was circa 23% discount on the circa 12.5p share price that SBS was trading at the time.

Select Pharma , which is a private unlisted company , has been acquired using institutional cash at raised at a share price of 14p which was the share price at the time of the announcement


Why is this ?


Private investors have all but sold out now

Over 90% of shares rested in the hands of existing institutional investors and SBS management BEFORE this acquisition

After the acquisition this figure will rise to over 95%

In short , there are hardly any shares left for PI's to trade.


The next acquisition which I expect will come within 18 months to two years , will be similar to this one with just one difference

I expect the cash raised next time will be at a premium to the SP


why ?


SBS turnover and profits for this year are already in the bag as there will be a whole years trading of Vindon products included PLUS there will be some numbers to add from Select Pharma , I now expect over £31.5m turnover ( just over a 20% 2014 rise )and this time over £3m profit, I don't expect too much in the way of charges/costs for the Select Pharma acquisition.

Also has anyone noticed that the number of distributors selling SBS Life Sciences products and services has increased to 18 from a recent 13 some 6 months ago ?

So a 2014 disappointing flat Life Sciences number should start heading north once more, plus Atlanta and the USA should start contributing.

2016 turnover and profits look set rise as there will be a whole year of Select Pharma turnover and profits to be added together with increased cross selling opportunities gained by SBS access to Select Pharma clients and vice versa


plus

there are no shares left so any new institution wanting a meaningful stake will have to pay for it.

SBS management, though I give them a hard time of it sometimes, are proving to be able to deliver the goods.

Their acquisition choices are coming good, have been bought at decent prices , the way that they are gelling together and each new one is helping the rest shows the plan is working.

Controlled growth by acquisition is the name of the game

SBS Market Cap is now over £50m , this might attract some new Institutions that have minimum market cap limits set for investment purposes.

Within 4 years I expect to see Turnover of £50m which will help to do the same

In short , SBS is starting to look like it might be another ABC


dyor
Source Bioscience share price data is direct from the London Stock Exchange

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