Vernalis Share Discussion Threads

[greedfear] 15/5/2009 14:40

Last chance to get a decent price. Last day PJ supports share price Imo monday a drop in share price of 25% (minimum).

Edit: I am mistaken one day, trading with new issued shares starts 19/5. Ergo: one more day before the price drop really starts

[jarjar] 12/5/2009 21:10

it will become 2.27p or 45.45p in new shares
whilst we pay 3p or 60p per share on our entitlement
some reward for no achievement at all in terms of share price performance

[bountyhunter] 12/5/2009 17:59

...and I guess they will adjust that 5p exercise price downwards following the rights issue;
fhmktg - like you I have seen my money evapourate here all too easily in the past (I agree that the loss of Frova for PMT migraine was a massive blow), but I also have saved (some) face with NS oil E&P companies

[maxwellsdemon] 12/5/2009 15:59

jarjar,

Yes, I also like to see directors buy shares with their own money. But, it looks as if the new CEO has been given a massive amount of share options as part of his golden hello package.

Vernalis PLC
29 December 2008


NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS


VERNALIS PLC


WINNERSH, U.K 29th December 2008 Vernalis plc (LSE: VER) announces that in accordance with DTR 3.1.2R and following a resolution by the
Board of Vernalis plc passed in accordance with share scheme arrangements approved by shareholders, the following options over new ordinary
shares of 5p each in the Company were today granted to the new Chief Executive Officer:


Executive No of shares Exercise Price % of Issued Share
Director under option Capital
Ian Garland 9,750,000 5p 2.68%

[fhmktg] 12/5/2009 15:57

Sad, but true jarjar. I'm 97% wiped out on 10 years of following Brit Biotech and now Vernalis.

The loss of Frova for PMT migraine wiped out Fellner's plans for rebuilding and my guess is its going to be another 3-4 years before we see anything from whats is left in the pipeline.

I've not taken up my option, this time round.

My faith in British technology has taken a beating with SkyePharma as well.

Only Protherics, now subsumed into BTG is showing promise and I'm going to have to wait at least 3 years for that to come through.

Thank goodness for North Sea E&P companies which have helped my portfolio out!

[jarjar] 12/5/2009 15:40

The directors are collectively taking up their entitlement for £54,825
that is peanuts if that reflects their holding,
my own entitlement is a meaningful proportion of that
and they hardly show faith in their own company by that holding.
What does it say about VER prospects ?

It does not seem to occur to them that most companies pay dividends to their shareholders
they expect shareholders to pay regularly dividends to them
where is it going to end ? - I despair

[boivnink] 07/5/2009 11:18

Good money after bad. Not a chance. It was a worthless exercise last time. Didnt fall for it then.

[trojan] 07/5/2009 08:19

Cheers BH ;)

[mrphil] 07/5/2009 08:04

Not sure I'll be throwing more money at it, but still as yet undecided. It is only a tiny holding for me having fallen 94% since the old British Biotech days of my original holding! As bountyhunter says, it could turn out to be a wrong decision not to take up the offer and for such a small amount I guess it might be worth taking the risk. No advice intended, dyor, blah, blah, blah!

[bountyhunter] 06/5/2009 19:27

I now have an answer to my own question which I know will be of interest to Trojan and maybe others also - I have been informed that entitlement shares cannot be traded and will eventually lapse worthless if not taken up - the end of a sorry story here for me. Personally I don't feel inclined to throw any more money at this! (although that could of course turn out to be the wrong decision)
...of course please dyor to confirm and make your own decisions rather than rely on this information and my opinion.

[rfinance] 06/5/2009 14:46

Yes, this rights issue is like Mata Hari giving you the "come on"...

I have been duped before with this bunch... although I cannot be certain that the same will occur this time I am extremely wary.

[bountyhunter] 06/5/2009 10:41

what seems unclear is if those rights can be sold! I'm certainly reluctant to cough up the large amount of cash expected (proportionally) to fund this rights issue even given the current price especially considering the history here. imho of course ...good luck to others though whatever their view and I am no expert so dyor etc...

[trojan] 06/5/2009 10:32

Worth looking into or hearing from others on the subject imo!!

Like you I have seen it all before and then we have the 1 NEW share for 20 OLD shares which gives it even more scope to fall with no news!! ;)

[bountyhunter] 06/5/2009 10:28

likewise! ...it seems ex-rights was the day of the announcement.
...the danger of taking up such a highly leveraged rights issue of course is that once the new shares are issued that the price drops to sub 3p!!!
normally rights can be traded but that seems to be a problem with these!
....maybe someone else has managed to sell them...

[trojan] 06/5/2009 10:15

I have never tried it to be honest, but they are still sitting in my account even after the shares have gone!!!

Should have held on as the price has risen, which is a bit unusual given the placing @3p!!!

[bountyhunter] 06/5/2009 08:39

has anyone managed to sell their rights ver_oo or do these have nil value if not taken up?

[greedfear] 05/5/2009 12:21

Thinking of buying these post consolidation somewhere between 20p-40p.

[jarjar] 05/5/2009 10:36

Trojan - 1 for 20 consolidation
just to avoid confusion

[fhmktg] 04/5/2009 10:41

Will there be an ex rights dealing in the rights share - this is set up as an open offer, so do the rights carry nil value?

[bullsru5] 02/5/2009 11:13

keep em all and sell @ 20 :)

[notaclue] 02/5/2009 11:11

Am I right in thinking that now you can sell your entire holding now and still have rights to 11 for 5 @ 3p on the number of shares you held?

[trojan] 02/5/2009 09:13

Yep, it's not the best of placings for me and then followed by the 20 for 1 consolidation!!! No thanks. ;)

Best of luck to everyone that takes it up.

[bountyhunter] 02/5/2009 08:06

Hi Trojan, "11 New Ordinary Shares for every 5 Existing Ordinary Shares"
If it had been 5 for 11 and not 11 for 5 I might have considered it!
I normally take up rights so this is unusual for me, just a case of "once bitten...." here for me. Also I'm not keen on consolidations based on previous experience.

[trojan] 01/5/2009 16:55

Bounty..

Nice to bump into you again!!

Like you I have been here many times with different stocks and was not going to get caught out even with the share price moving up on a placing at 3p!!!!

Columb0..

The problem is in any markets let alone the current one, when the price moves to 60p after being at 4p due to a consolidation it has a lot further to fall compared to the pre placing price!
There is not enough news coming out to send it north of 60p at this time imo and could well come back to 45/50p (2.25/2.5p)post consolidation in the current market!!
I hope i'm wrong for everyones sake, but there are other stocks out there and I already hold OXB, so am grateful to off load a fair few of these!!

[greedfear] 01/5/2009 16:00

I have no holding in VER but Trojan and Bountyhunter you did the right thing. No doubt in my mind that Piper J will support share price till may 15th. Then share price will drop (I expect to somewhere between 1-2p).