Syncona Share Discussion Threads

[santangello] 22/3/2012 16:46

More 6 figure buys being taken off the table today...

Myriad will no doubt keep quiet for a little while longer yet....?

[chinese investor] 22/3/2012 16:12

I'm surprised Myriad have not made an announcement about the number of shares they have won.
I can only conclude they aren't doing well.

[sharejock] 22/3/2012 15:09

Neubie: Makin g like a shepherd = getting the flock out of here.

PTGInt: Could be a good move: I got the impression reading thro all the gen Sync were playing at big business: signing up to one deal after another with little consideration nor financial planning to properly account for the obligations arising from the contract we signed last month.
Maybe it goes w the territory: you need to invest to keep pace? If that's the case, Myriad may well be better placed to fund and account for this?

[ptgint] 22/3/2012 09:44

Thanks Sharejock for that research and info. Made my mind up to pledge my shares as the Myriad offer looks more and more like a rescue.

[neubie] 22/3/2012 09:25

Sharejock...thank you. I am out at work for the nnext few hours but will catch up when I can.

One man and his dog...brilliant ...but who would`ve thought it when the idea was pitched!

[sharejock] 22/3/2012 08:07

Just to be clear, I'm making like a shepherd.

[sharejock] 22/3/2012 07:59

Chinese: I now think it magnanimous of Myriad to be taking Sync over. I wouldn't!
Edit: If i had the money...enough said.

[sharejock] 22/3/2012 07:57

Or this gem:

3.3.3 Persons acting jointly or in concert with Synchronica

Northland, the Company's nominated adviser and broker, is acting in concert with the Company for the purposes of the Code. As at 13 March 2012 (being the last practicable date
prior to publication of this document) Northland has the following interest, right to subscribe
and/or short position in respect of relevant securities of Synchronica:

Short Position: 89,818 Synchronica Shares.

.....The RNS states it was approved by the Panel prior to its release on 4th Jan. This was probably the cue for us all to exit stage left.

[chinese investor] 22/3/2012 07:56

Wow !

Upon a change of control of the Company, Nokia will have the right to demand immediate payment of the deferred consideration.

[sharejock] 22/3/2012 07:49

Guys: Reading thro Sync's recommendation of Myriad's offer and all the additional information in there I am honour-bound to concede I am embarassed at having posted in favour of the BoD. Sync running out of cash was probably inevitable. As someone already suggested, Myriad may be the White Knight we were waiting for.

Also, I'm disappointed in the regulatory governance and the lack of shareholder involvement in corporate governance. For example how does the RNS on 30/06/2011 in any way relate to what Sync concede as the facts of the Nokia deal in the folllowing extract from synchronica-offer-from-myriad-ag.html

5.14 The Company entered into a deferred consideration agreement with Nokia dated 29 July 2011. Under the terms of the agreement, the remaining US$21 million of the purchase price to be paid by the Company to Nokia after completion of the acquisition as referred to in paragraph 5.13 above will be paid quarterly in arrears at a rate of 22 per cent of the revenue earned by the Company from certain assets of the Nokia Assets and applicable developments, or US$750,000, whichever is greater. The remainder of the deferred consideration will be paid by no later than 31 December 2015. The Company will pay no interest on the deferred consideration. The deferred consideration of US$21 million was secured by a first ranking charge over the assets of the Company and certain of its subsidiaries. While the deferred consideration remains outstanding:
(i) the Company cannot declare any dividends
nor can the Company commit to any capital expenditure in excess of US$1 million without the prior written consent of Nokia; and
(ii) under the agreement any additional funds from any equity, or debt financing above US$5 million, must be applied to the payment of the outstanding deferred consideration. Upon a change of control of the Company, Nokia will have the right to demand immediate payment of the deferred consideration.

[chinese investor] 22/3/2012 07:18

If Myriad don't get the required number of votes then SYNC price will drop.
It'll be a buying opportunity IMO.

[sharejock] 22/3/2012 00:53

Neubie: Just noticed your last post and sent you a mail.
Cheers!

[sharejock] 22/3/2012 00:39

pj: Another holder!
I've got 200k myself.
Well worth checking w Broker so you know the state of play after.It's something I need to get onto myself.
If no good may just sell and consider whether I want to buy back. Meantime, it may be sync share price goes down between now and 28th depending on who has what and how many they have...

[pjdeery] 21/3/2012 23:31

I am still here with my mere 200,000 if no other action occurs will most likely take up Myriad paper but will speak with my broker first to establish the exact position regarding how easy it will be to track Myriad share price and/or deal in CDI's.

[sharejock] 21/3/2012 23:25

M: Good man!
And our Host Chinese!?
Matt: Read thro the orig offer doc (I've not been provided access to the revised one, nor the one directly from Sync...Halifax?)I didn't see anything about offer lapsing etc. Did see if M get 75% they'll move to delist Sync and I think it said they'd look to do this w less than 75%.
Looks quite hairy if you don't accept tho'.
I'll hang on til 28th.
GLA!

[neubie] 21/3/2012 23:21

I have set up a talk with the TO Panel for Friday so anyone, active posters and observers alike, with info they feel ought to be shared with them please mail me at [e-mail]

To those of you who already have thank you.

[mattab] 21/3/2012 23:15

Yes the last few on here - that I actually find of comfort tbh.

Wider market bought (Institutions) versus PI's bailed in huge volumes.

If we pledge by the 28th which seems to be the date for most of us and then a BID is made on the 30th say which Myriad cannot compete with - do we get our shares back or do Myriad collectively use them against the new player?

GL all half a dozen of us it seems lol.

[maurillac] 21/3/2012 23:11

im still waiting & hoping.
m

[sharejock] 21/3/2012 22:44

Matt: Good work on the detail around volumes!
Re "what happens after 28th"..
I can't answer this question at the moment. I'll try and read thro the paperwork tomorrow. Meantime, probably the 4th April is the deadline if no announcements sooner.
We seem to be the last few remaining: You, me, Neubie, RayH?...?

[mattab] 21/3/2012 21:39

I will have to accept Myriad's offer by the 28th - if there is a bidder accumulating the 30% - they will be aware of the last date to pledge shares to Myriad for us Shareholders.

Some Shareholders may have abit longer.

There is a large discount to the Myriad paper.

There is that kind of volume and some (well over 30%) that is as yet unaccounted for - still waiting for the RNS's. Why some others have not noticed this fact is beyond me.

Noted on the Sync site 12.75 Ask - error?

4 trading days left for me personally. Bring on the news!

What happens if a BID that beats Myriad comes after the 28th after we have had to pledge our shares?

Will it be Myriad fighting the new Bidder?

[sharejock] 21/3/2012 21:19

Matt,
Thanks mate you've cheered me up! Not sure what's going on but have put in a sell order at a higher price than I expect to get while I wait until the 28th March.
Reading some of BZ's RNSs again, read as tho they have 2 separate lots: 1 without voting and 1 lot with. Water gets cloudier by the day. Hopefully, it'll come clear soon and there'll be upside for me...and yourself if you're hanging out!
It may be relevant that Fid's "Irrevocable" gives them until 12th April (if memory serves me correctly) to, presumably, wait for a better offer at +15%.
NB to all: My strategy may not work and will not suit everyone! Always DYOR etc.

[mattab] 21/3/2012 20:48

Sharejock,

You could be correct - a flurry of RNS's on Monday with BZ purchasing and selling Sync shares - usually selling more than they purchased. Obviously holding a stake in Sync but a smallish one 6/7% I understand.

4wk volume is over 69 million (iii site) - so my question is where are the rest of the RNS's and BZ have sold huge blocks of shares who to exactly?

PGTInt

If BZ were looking to profit on the turn they why are they selling huge chunks? All buys and accuring a sizable stake at a large discount I can understand............but the selling and to who?

There is a senario where a player - only when they have 30% do they declare it to the market RNS and make a BID for the rest.

There is that kind of volume that is as yet unaccounted for - still waiting for the RNS's.

This is not over until I have to pledge to Myriad. There is huge volume yet to be accounted for - FACT.

Matt

[ptgint] 21/3/2012 09:20

ShareJock : Whilst your scenario is a possibility it may also be that NZ Bank and others have spotted the price difference between circa 12.5p to buy and Myriad's offer at circa 15p and are simply aiming to profit on the turn i.e no real bidder, no working in concert , just trading during the offer period with a view to profiting at the end. Time will tell no doubt.

[spekul8] 20/3/2012 22:23

Cheers for the heads-up eggflip.

Will post any further info on the call.

In the meantime, watching and waiting to see what happens here...where's a white knight when you need one? LOL

[eggflip] 20/3/2012 20:28

SPEKUL8 - sounds like a scam.

Other share scams
If you already own shares in a company you may receive a call from someone offering to buy them, usually at a higher price than their market value.

This might sound like a great deal, but will likely come with a request for money up front as a bond or other form of security, which the scammers say they will pay back if the sale does not go ahead. This is probably an advance fee scam – where you pay money but never hear from them again.