Syncona Share Discussion Threads

[davidlloyd] 09/3/2012 09:14

Really cannot understand why this is not at least at around 14p to buy at the moment. Does it mean that the general belief is that Myriad share price is a bit inflated? I would have thought that the potential for Myriad, with Sync, is seen as significantly improved but WDIK.

DL

Eeek that colour is hurting my eyes..... back to white or grey please!

[chinese investor] 09/3/2012 08:39

I'm waiting for Switzerland to open.
Myriad price is everything !

[sdavis] 09/3/2012 07:56

20% discount = 13p

[divinausa1] 09/3/2012 07:01

will the share price sit at a 20% discount to offer or close to 14 - 15p

?

[neubie] 09/3/2012 02:31

questions...

accepting the Revised Offer will give a Synchronica Shareholder (upon the Revised Offer becoming or being declared wholly unconditional) an investment in a Combined Group...is this represented by a %...90% for example.

Synchronica will use its best endeavours to obtain the consent of Nokia to Synchronica granting to Myriad fixed and floating charges over the assets of Synchronica and its subsidiaries (in such form as Myriad may require)....and if they don`t...or is this just a ploy to underline Nokia`s commitment to the deal?

Irrevocable Undertaking to accept the Offer from Fidelity...why wasn`t the non irrevocable aspect of this highlighted as previously?

The Synchronica Directors believe that the uncertainty caused by Myriad's hostile offer for Synchronica may lead to delays in customers paying outstanding invoices and a reluctance on the part of new customers to complete discussions with Synchronica and enter contracts; were both of these factors to happen, this will place Synchronica's cash flow under further pressure....happening as we speak or just hinted at...as a direct result of the tactics used by Myriad?

Given the above and without the intention to pursue the previously proposed investment by Intertainment Media, Synchronica will need to seek additional funding and, if so, would also need to obtain Nokia's agreement to the use of such funds for working capital purposes. Shareholders should also be aware that there is a risk that the short term loan from Myriad of up to US $3 million, to be drawn down in four instalments, to cover some of the payroll costs of Synchronicamay not be sufficient to enable Synchronica to cover the overall working capital requirements of Synchronica during the Offer Period, particularly if the Offer remains open for the full 60 days. In addition, as the loan is repayable within 14 days after the expiry of the Offer Period, Synchronica may not have sufficient time to put alternative financing arrangements in place....I agree with Maffa if that isn`t a call out to a second party I don`t know what is...

The Board had planned to raise additional working capital through a share placement in connection with the Intertainment Media collaboration. However, following the announcement that Nokia may require any equity funds raised to be used to repay the deferred consideration, there is considerable uncertainty that any equity funds raised could be used for working capital. Furthermore, because of Nokia's charge over Synchronica's assets, we have not been able to raise debt funding on acceptable commercial terms....Nokia really are in control of the thumb screws, aren`t they?

As I`ve said before if you are a VC backer or backers you now know what you will be letting yourself in for (mostly) should you decide to throw your hat into the ring...Nokia interest in Sync needs to be taken out and the company need $3m plus in cash over the next few weeks...I do wonder though if my glass is over full...any thoughts

[master rsi] 08/3/2012 22:42

Share price movement during the last 3 month

[sharejock] 08/3/2012 22:05

Chinese: This colour works for me. Thank you!

[hernando2] 08/3/2012 18:44

You did not answer my question...

BTW I agree with you and your sentiments

[ray hankin] 08/3/2012 18:36

Myriad stopped the agreement with the firm over the pond to screw Sync.
If Myriad never got involved Sync would easily have survived.
All this Nokia making noises now in because of SW.

[hernando2] 08/3/2012 18:32

ray.

What do you think would have happened if MYR hadn't extended a 3 million loan?

[eggflip] 08/3/2012 18:14

Oh that's better, I can see now!

[barrien] 08/3/2012 17:44

ray
totally agree.

[sharejock] 08/3/2012 16:48

I miss Q!
Dr K any chance of another brilliant take off?

[eggflip] 08/3/2012 16:39

Yes thanks Chinese, to BDC on LSE for that quote.

[sharejock] 08/3/2012 16:29

Thanks Chinese! And as cdi's no swiss tax payable on profits?

[chinese investor] 08/3/2012 16:08

"Does this mean that even brokers who don't currently trade on the Swiss exchange will be able to trade Myriad shares if they are held as a CDI?"

Yes. Trading CDIs is a very similar process to how you trade your normal UK shares. Same broker costs too. CDIs are also isable (is that even a word?). Sync/Myriad CDIs will mirror the price of Myriad shares held on the Swiss SIX priced in Swiss Francs, but you'll see the equivalent value on your trading platform in GBP, the new Myriad shares will be a currency-converted mirror image of old myriad shares, just tradeable under different currencies. New Myriad shares (held as CDIs) will be added to the stockpile of old Myriad shares (held on the Swiss SIX) and they'll all account for the total number of issued share capital. Myriad will set up the same process for Canadian investors, but they will obviously trade their new shares in CAD $. Through the magical system of backing, were you to sell your new Myriad shares they could be bought by a swiss trader or a canadian trader. I imagine having a Swiss banker friend as one of your major investors comes in handy when setting up such a large administrative undertaking...

If you're old-school and hold Sync share certificates then you will have to trade your certificates in for CDIs and join the technical revolution in order to trade electronically.

If you hold your Sync stock in a nominee account, pretty much everything gets done for you, you just need to accept the offer.

Hope that helps

[eggflip] 08/3/2012 16:06

zcaprd7 - no problem with SIPP/ISA. Must give my eyes a rest from the computer, seem a bit bloodshot today - everything looks a horrible shade of red. Still, better than last night's experiment with a black background. That worked really well!

[zcaprd7] 08/3/2012 15:58

On a serious note, what are the implications for holding in a sipp or isa with the new shares?

[oldtown] 08/3/2012 15:15

Chinese investor have you tried paying for the shopping at Waitrose with aim shares.

[chinese investor] 08/3/2012 14:48

Couldn't the workers be paid in shares until sync have some money ?