Vectura Share Discussion Threads

[diesel] 03/10/2016 14:47

News will drive this now, and a director buying provides a small level of comfort.

[richtea1701] 03/10/2016 13:21

Be irritating if it gets marched down again from here.

[diesel] 03/10/2016 10:30

Yup does look like the downtrend has reversed.

[boadicea] 03/10/2016 09:45

Looks as if VEC may have passed an end-of-quarter technical position and now be clear for a run up.

[adamb1978] 03/10/2016 09:43

Another NED purchase just announced

[nw99] 03/10/2016 09:38

Added more chart bottom

[fhmktg] 02/10/2016 12:14

Thanks Carpadium!Incidentally Verona RPL 554 is being developed from Vernalis's stable.

[carpadium] 01/10/2016 16:47

Courtesy of d gaser on II thread...

[carpadium] 01/10/2016 16:35

Consensus recommendation, FT Equities coverage

As of Sep 30, 2016, the consensus forecast amongst 9 polled investment analysts covering Vectura Group PLC advises investors to purchase equity in the company. This has been the consensus forecast since the sentiment of investment analysts improved on Sep 30, 2016. The previous consensus forecast advised that Vectura Group PLC would outperform the market.

6 Buy, 2 Outperform, 1 Hold.

[jdgen] 30/9/2016 18:18

Derodra followed my advice and bought 30,000 at 137.55 and 16.30 today.

[carpadium] 30/9/2016 17:00

Perfectly relaxed, wouldn't have added twice this week otherwise.

In total agreement with your opinion that VEC is a steal under 140.

[jdgen] 30/9/2016 14:46

Relax...just topped up at 137.60

[carpadium] 30/9/2016 12:39

In the original '2016 anticipated newsflow' Vectura stated, for both products,
US launch Q1 2016! ... which shows how badly things have gone to plan.

Suppose I could add that's pharmaceuticals for you.

[alexchry] 30/9/2016 12:25

Carpadium - According to Vectura, Novartis were going to announce their marketing plans by the end of this quarter, only a few hours left! Apart from the good trading news, very welcome, I haven't heard anything good from Vectura since the merger.

[carpadium] 30/9/2016 08:27

Novartis Q3 results Oct 25th, our two will either be in the market by then or presentations will cover a release date. Hopefully.
One point I noticed in their Q2 results is that their US sales force has been strengthened in numbers and coverage which should benefit our cause.

[alexchry] 30/9/2016 08:08

Rather disappointing that there is no news from Novartis, third quarter almost ended.

[jdgen] 28/9/2016 14:09

Sorry didn't quite understand your last sentence. Tax due is mkt price on day of exercise less option price x no of shares exercised x tax rate. Eg (140-0) x shares x 0.4

[boadicea] 28/9/2016 13:43

jdgen - Thanks - I hadn't appreciated that the share award was taxed under PAYE giving rise to an immediate tax charge. However, I think the number of shares sold in the case of nil cost or nominal cost (0.025p) options will be virtually independent of the exercise price - just a fixed proportion to cover 40 or 45% tax rate.
In the case of options at less than 100% discount, what you say is true.

[richtea1701] 28/9/2016 10:44

The chairman buying is the clearest message to the market.

[jdgen] 28/9/2016 10:03

Quite normal for directors/ managers to exercise options and sell exact amount to cover tax due on exercise. Many companies have this set up automatically as the tax is due immediately and collected through PAYE at highest marginal rate. It is beneficial to exercise at low share price as this means less shares have to be sold to meet the tax due. Future increases in share price will mean that a capital gain will occur and that tax is paid through self assessment.

You can assume the remaining shares will be held for the long term and if not we can all get worried. Vectura remains ridiculously undervalued and is a steal at under 140.

[boadicea] 28/9/2016 09:44

The total of 577k shares sold on the market from the two main director awards amounts to a significant proportion of the normal turnover and could be responsible for the notably poor performance over the past few days.

I assume it might be in the interest of the acquirers to take them at a low point in the share price in order to minimise the cash value of the immediate taxable gain. However, if the tax is then satisfied by selling at that same low price, any advantage would seem to cancel out!
Is the tax payable immediately? If not, one assumes the directors do not expect an early recovery in the sp, otherwise they would not sell until the tax became due on the normal assessment cycle.

Any other thoughts out there?

[soundbuy] 27/9/2016 17:33

I'd like a tax problem like that.............

[fhmktg] 27/9/2016 17:00

Still, a good signal to the market!

[carpadium] 27/9/2016 16:46

Well done Mr Chairman, buying at full price, whereas Ward-Lilley could surely have paid 'tax costs' from his considerable salary without selling any of his free shares and sent market and shareholders a far more encouraging message. Fundamental.

[a1ord53] 27/9/2016 15:51

CEO of Vectura :

i) exercise of awards granted by the Company under Listing Rule 9.4.2(2) as nil cost options over 714,985 shares; and

ii) sale of 336,043 shares arising from the above exercise to satisfy tax costs.Sold @140