Sourcebio Share Discussion Threads

[finkie] 08/12/2022 21:15

I don’t think it’s a rip off, they will save money not being listed stay invested outside of an isa… easy.

[9degrees] 08/12/2022 17:23

scandalous ripoff

[boystown] 08/12/2022 13:43

Does anyone know what happens when these are held in a SIPP - if I don't tender them? Like most others on here, I think these are worth WAY more, but equally don't want to get stuck with a load of bureaucracy.

[assword] 08/12/2022 13:33

No dividend carrot offered to see a share price rise. Poor directorship / communications. Bunch of shysters doing it time and again. I don't know how they sleep at night.

[jacks13] 06/12/2022 10:11

My broker has said, '..under HMRC rules unlisted shares are not eligible to be held within a Stocks & Shares ISA. As a result, if the delisting becomes effective, any holding of SourceBio International Plc shares within a Stocks & Shares ISA will need to be removed within 30 days of the effective date of the delisting'.

[mfhmfh] 05/12/2022 17:23

can this be held in an ISA as a private company?

[c3479z] 05/12/2022 17:15

grim result having to accept 115 but the alternative is just too risky,
chances are that it will reappear in a few years at a much higher price but this is not certain.

[jacks13] 15/11/2022 17:40

This article doesn't relate directly to SourceBio but does touch on the boards incentives to delist.

[bamboo2] 13/11/2022 23:08

Griffiths adding. Now holds...
5,700,000 7.68%

[c3479z] 13/11/2022 21:51

has the timetable for the tender offer been published?

[jacks13] 10/11/2022 12:45

Lombard Odier bought another 604,000 yesterday. (28.10%)

[9degrees] 10/11/2022 10:36

It mirrors JLC,Mills,Harwood treatment of Celsis PLC in 2009

[jacks13] 10/11/2022 09:15

They joined AIM on 29 October 2020 in the middle of the Covid epidemic perhaps in order to exploit any advantages that it might offer. They probably had it in mind all along that they would reverse out if and when it suited.

[smithless] 10/11/2022 08:23

My guess inside shareholders are:
Lombard 26.14%, Continental Fund Services, 22.7%,Harwood 22.68%, Richard Griffiths 6.7% and LeCoque 3.29% in total 81.6% so 18.4% tender. Continental may want out, but apart from LeCoque, all the others have been buying recently. Cancellation is going to happen and I suspect Harwood etc will keep on buying blow 115p if any volume appears. Whether to hold or sell is a personal choice, but suspect they will want to raise funds, so be prepared to put more cash in or get diluted down.

[bamboo2] 10/11/2022 07:26

supernumerary, The general term for the advance of Genome Science in health is known as Precision Medicine, it includes areas such as Liquid Biopsy, Cancer Genomics, Genomic Screening of Newborns, as well as pathogen id.

This is a massive growth area for the next decade or more. The management can see this potential, and likely want to expand, but over the last year or so the general stockmarket has been unkind to growth and bio-tec shares. This means it is very difficult to raise financial support at reasonable terms, and I think this is probably a good reason for removing it from the market.

Look at DNL. Delays caused by Covid meant two years were lost getting products fully into the market, therefore reduced income. This meant they needed capital, but market would not support them. They were sold last week around half their value.

[9degrees] 10/11/2022 03:05

Can a private co still be held in an isa? Yea

[9degrees] 10/11/2022 02:54

J’le coq and harwood did this before in 2009 with Celsis plc . Haven’t delved deeply enough to see details and outcome.

[supernumerary] 09/11/2022 21:55

The management presumably agrees with you, which is why they want it private again.

[bamboo2] 09/11/2022 20:43

c3, there are some new opportunities opening up in Genomics.

These are still in trials, but already some US hospitals are moving toward genomic based diagnosis, where traditional methods, such as diagnosis of exclusion are just a waste of time and money. In some cases, it's a matter of life and death.

Another fantastic development is that of sidestepping culture id for genomic id of various pathogens. Turn around times go from weeks to a few hours!

AMR is a massive problem. Selecting the right anti-biotic as quickly as possible is vital, etc etc.

There is a very broad market choice for a keen and progressive operator.

[bell_rj] 09/11/2022 17:33

> they're squeezing small holders out,

Why can't I keep my shares by doing nothing? Is there something I'm missing here?

[c3479z] 09/11/2022 17:27

quite disappointing in that they say the prospects for the core businesses are excellent yet they're squeezing small holders out,
would have thought their plan is to consolidate private practice histopathology by taking over, where possible, other practices and the backlogs service.
Genomics has potential, storage see as a steady slow growing cash cow, can't see how this could be aggressively expanded but don't know what's out there.

[topvest] 09/11/2022 17:21

Blimey - this company must be on the verge of making records. This is the second go-private transaction. Will they be listed again I wonder at some point?

[jacks13] 09/11/2022 16:03

Thanks Supernumerary.

[supernumerary] 09/11/2022 15:40

I don't know the details - it can get complicated, but in essence if the buyer gets 90%+ they can apply 'squeeze-out' provisions to force the minority to accept the offer (which cannot be less than the majority were offered). Between 75 and 90% I think a lot depends on how aggressive the buyer wants to be - I was involved in a case where the buyer couldn't force out the shareholders so they had a massive rights issue.

Fine for them to take it up because it was basically transferring money from the right pocket to the left, but why would the minority want to pump more cash in? So they got their 90% and forced out the remainder.

But the fundamental problem is why would you want to remain a minority shareholder in an unlisted company? There's no good pricing mechanism, and no market for your shares, and a management that wants you gone.