Vectura Share Discussion Threads

[base7] 29/5/2021 08:25

Those of us who have been invested via SKP would have been better off selling in market at time of acquisition (or before)although some of us bought more since resulting in a reasonable return -all in all very disappointing outcome & the most irritating aspect to me is that Will & team have only been in situ for a short period & they will be primary beneficiaries financially of this asset strip -unless enough IIs & HIK object with conviction

[polaris] 28/5/2021 23:12

Err.. profile!

(It'll be damn obvious what the irons are)

Maybe i'll see some of you on other boards. Once this one gets finalised then it will no longer be listed.

[alexchry] 28/5/2021 22:51

Will you be sharing those 'irons' with the rest of us on this board as many of us may be looking for a new home for the VEC 'dividend'.

[polaris] 28/5/2021 20:19

I see this as game over, however few shares the board hold. What little holding i had left was closed on day of announcement. For me, it was a lesson in being right and then having timing elsewhere screw me over. Pretty much threw away £200 k profit here due to that timing. A harsh lesson but one i will not repeat. If the research is pointing in a direction and the market has missed it then stick to your guns. I'm now 1 for 2 on projects despite being 2 for 2 on sniffing out the right company to build a decent holding in. 6 figure return back in the day on AVM banked. 6 Figure profit on VEC missed because i was chasing other tail and lost sight of the goal here. I've three other irons in the fire that i expect to make serious returns with, 2 of them are less risky than the third. This time i will not chase tail, honest...i won't chase tail...oooh, a tail... ;-)

edit
Current favourite tail is waiting for TSLA to blow up. When will i ever learn?

[davr0s] 28/5/2021 18:44

You seriously think that is going to happen? If so I have an unwanted bridge to sell you

[vecturaking] 28/5/2021 18:38

The best Thing that can happen is for the board to make 180Degrees Turn on there Decision to back this bid

Please reject The bid

Pay the Dividend

Elaborate More about the COVID inhaler

Have a great Bank holiday

Miracles do happen sometimes that’s what a Shareholder Needs

[davr0s] 28/5/2021 18:17

If it's such a bargain someone else will come in - and if it isn't they won't. Decent return for me so not complaining - nice to turn it over as it wasn't doing too much

[base7] 28/5/2021 18:12

Obvious asset strip by Carlyle & the sum of the parts is worth more than the whole & my view is that 155p is a substantial discount to asset value -no other reason for Carlyle to buy !
I appreciate that the deal u I s likely to succeed but I hope that the major shareholders & HIK apply appropriate pressure -unless Hik have already done a side deal .Willy is a CDMO guy & has he is staying the rest could well be sold off

[zangdook] 28/5/2021 14:47

If they declared more dividends the price would likely rise at the prospect.

[diesel] 28/5/2021 14:25

Jim, if we got the divvies the share price would fall!, for me the trading statement spoke volumes about the near term prospects.

[scotches] 28/5/2021 14:19

If the deal undervalues the company then surely other players would want to take advantage of such a bargain - although it seems that PE can spot the value and pounce more rapidly than others.



"The flurry of bids has raised concerns among big City investors that private equity firms are pouncing on a London stock market that has underperformed against international peers, to snap up businesses on the cheap. It is also likely to spur renewed scrutiny of the investment strategies pursued by buyout houses, which typically seek to maximise their returns by piling the companies they buy with debt. Private equity firms usually own businesses for three to five years before selling them or listing them at what they hope is a profit."

[jimboyce] 28/5/2021 13:59

But we may have got some decent divis.........

[diesel] 28/5/2021 13:54

I’m happy with the deal, everyone always wants more but really without this how long would it have taken to gain 30%, the chart suggest quite a while.

[vecturaking] 28/5/2021 13:38

The best Thing That can Happen is if the Shareholders reject this undervalued
Cash Bid with most of the cash already in the Vectura Bank account

But it’s a Done Deal with the decision
Makers Driving the company

Unfortunately for the shareholders


GAME OVER

[base7] 27/5/2021 23:55

We should not forget the final $32mill Exparel milestone,expected later this year.
Extremely opportunistic to sell Vec before establishing-
-our likely Advair generic income
-our likely Ellipa range generic revenue,assuming approved in relatively near term
-likely revenue from our inhaled C-19 solution,which has been under wraps so far
The above 3 income streams alone could justify the current bid value with everything else in for zero -apart from a very healthy ,& growing,cash balance
Will & Board have almost no skin in the game & our Chairman seems happy to just exit without considering shareholder value-which hopefully our major IIs will consider.

[a1ord53] 27/5/2021 18:42

I think they could pay out at least 40p instead of 19 p- cause all money from GSK belongs shareholders and another more than 100 millions still to come from GSK this and next years !
Management has nothing to do with this funds .
They managed only 10-12 mil yet - very modest results!

[vecturaking] 27/5/2021 18:32

The company is cash Rich

It will cost them much less to buy the company then 136p

[a1ord53] 27/5/2021 18:31

In reality Carlyle pays only 136 p
19 p is our money and BOD has nothing to do with it as well as Carlyle .
Bad deal for shareholders .
Polaris may be could explain what real current valuation is . Please share your thought Paul.Thanks a lot.

[gbcol] 27/5/2021 18:12

So presumably the BOD will be contacting major holders now to get their views/likely voting intentions. Any thoughts or knowledge on how this actually works? And what are the large holders likely to say? Will they be minded to just accept, take their profits and move on? Or would they be likely to say that the offer undervalues the company and that the BOD should go back and try to extract a better price? Or are we totally dependent on a new bidder coming in to get the offer up?

On the same theme are holders here minded to vote for or against?

If the BOD can’t get the 75% acceptances does the bid just fall away or get thrown back to Murano to offer more?

These are probably unanswerable questions but be interested to get any thoughts or views.

[mr marooned] 27/5/2021 17:37

Thanks Boadicea.

[boadicea] 27/5/2021 17:16

mr marooned - The company decided to pay a non-approved (approval not required) interim dividend without reference to the agm, instead of a special dividend requiring approval of the agm and also not to proceed with the consolidation.
The record date is post-close tomorrow and xd date is Tuesday 1st June. Following that event we are left with an offer of 136p per share.

See also

The share price is at a premium on speculation that a better offer will emerge, either from a competitor or by shareholders rejecting the current offer which requires 75% approval in its present form (SoA). This is very feasible due to the minimal weight of the BoD's holding.

[mr marooned] 27/5/2021 17:03

mmmmm, what exactly just happened ? share price up or down tomorrow ?

"Vectura Group Plc have made an announcement that the consolidation and special dividend of 19p will now not proceed. This is a result of the proposed offer to acquire the company by Muranio Budco, (a newly formed company, indirectly controlled by funds managed by Carlyle Europe Partners V).

Once we have received details of the new effective timetable, we will contact you with further information."

[pinemartin9] 27/5/2021 13:52

I've just sold my holding and am moving on. Any idea on where to put my funds? DYOR etc. etc.

[base7] 27/5/2021 12:22

As I suggested yesterday ,Carlyle are trying to buy us in the cheap with the support of The Board (who have less skin the game than some of us ) & aiming to profit majorly at our expense .Several Unknown’s which could benefit our share price substantially & this mornings announcement by Poygon suggests that some of the big players consider limited downside (6-7p) by buying at this level with substantial potential upside if bid can be increased to 175-200p

[diesel] 27/5/2021 11:16

I knew about this, it was just that this was the only thing mentioned about Vec, and as has been said the chances of a product from a startup company is remote, a suggestion that implicated this was what was making the company attractive? That’s the media for you!