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BXP is based in Dhaka, Bangladesh. A modern outfit, producing a range of medicines, generic and non-generic.
I did consider posting a reply, but I know nothing about BXP. Different reasons for holding perhaps, Im waiting for a buy out here, with Dbay up to 20% over the year, and that being their M.O. No idea about BXP, is it an Indian company?
APH down today, BXP unchanged. Looks my message of 22nd Sept. was fair comment.
Cheers.
Blackrock have slightly reduced to 1.54%
GLG on 0.87%
Taking the over all 'notified' short position to 2.41%
Euroclear shows 2.89% for August, this will include smaller notifications not tracked by the over 0.5% rule.
Encouraging that large trades continue to roll through today, so hopeful of seeing further reduction.
Berenberg cuts Alliance Pharma price target to 90 (100) pence - 'buy'
It does seem like common sense has prevailed on the sp today and the news has been taken positively. Very extraordinary in my view... unless I'm missing something ridiculously obvious?! The business would appear to be on a firmer footing now as you say. Hopefully we will see continued upside now.
The interim dividend was historically about 0.59p, which cost the company around £3.1M. The FY was 1.18p which cost around £6.4M. Cancelling these will cover the impending CMA fine of 7.9M - although the appeal has not been decided yet.
I expect that is why the short is still lingering, waiting to gap this down on the headline of the fine. However, they seem to have various competition form buyers such as Slater and Dbay. An interesting one to hold, and one I think which has definitely bottomed for now. I see broker consensus is around 85p, but that was set before todays results.
Suspending the divi probably in her best interests of the business long term, but not for the sp today I imagine!
Comparing APH with BXP, I personally think that BXP has greater potential for the share price to rise substantially due to its current very low PE-Ratio. APH is in my view fairly priced at region 40-50p. I welcome other views on this.
Https://www.lse.co.uk/rns/FIF/recommended-acquisition-of-finsbury-food-group-qkxhw2obvcnu06r.html
23.6 per cent. to the Closing Price of 89.0p on 19 September 2023;
APH next?!!
Hopefully so. And the downwards pressure on this may not be off. Nice little 7% jump today so we will see.
Looks like they are fully out now
Bump
I wrote this on other board in reply to the usual "its the debt", "its the court case" type posts.
"Free cash flow in the Period was £5.7m higher than the prior period at £10.8m (H1 22: £5.1m) and net debt decreased £7.5m to £94.5m at 30 June 2023 (31 December 2022: £102.0m)"
My opinion here is that, Investors are not selling, the price drops are due to aggressive shorting, trying to cover back the stock that the directors bought (100k), and Dbay have taken (1%).
- Andrew Franklin, the Chief Financial Officer of the Company, purchased 50,988 ordinary shares
- LeCouilliard, the non-executive Chair of the Company, purchased 40,957 ordinary shares
- DBAY Advisors Limited as discretionary investment manager of Fixtaia Limited, Logistics Development Group Plc and DouglasBay Capital IV Fund LP, purchased 5.4M by Aug 11th
Anyone who was concerned about debt and court cases would have sold up months ago. Short started in May. Its accumulation time, but each to their own.
Court case is done, its only an appeal over the fine, which is a max of 7.9m. So guess already baked in to the price. Expect shorters are hoping to exploit the RNS if the appeal fails (Which I think it will fail). One party did not even appeal, sounds banged to rights! (I'm future looking here, they pay the fine and get on with it). Butterfield may still get disqualified, again not my concern. If the CFO is happy to buy 50k shares, it tells me they can navigate this. Maybe they know that they got off lightly! 7.9M is manageable for them to pay I think, even if it is at the expense of the interim dividend.
(From IC)
"Shareholders will take heart from the news that the board has addressed the day-to-day management issue by appointing Jeyan Heper in the newly created post of chief operating officer. Mr Heper is a management veteran who has served in senior positions at Proctor & Gamble, Danone and British American Tobacco."
(IC comment) "Broker Numis forecasts a 2023 price/earnings ratio of 11 for 2023 and expects Alliance to focus on higher-growth ecommerce in the US. That could mean the shares are priced for recovery, but we remain cautious."
From the government press release Feb 2022:
https://www.gov.uk/government/news/cma-fines-firms-over-35m-for-illegal-arrangement-for-nhs-drug
"Alliance Pharmaceuticals Limited and Alliance Pharma plc are jointly and severally liable for £7,900,000"
The appeal has already been heard:
Appeal and the competition law issue of the director disqualification proceedings to be heard before the Competition Appeal Tribunal between 5 and 27 June and 27 July and 4 August:
Schedule here
https://www.gov.uk/cma-cases/pharmaceuticals-suspected-anti-competitive-agreements
No publicised outcome yet, though Dbay bought a further 1% after this date (11th Aug). They are pretty smart, don't know if public could attend?
1.6M shares traded today in 2 chunks of 800k. Lets see if Dbay increase again, after they did last week. Now at 17%.
PS Handy, Dbay are not dividend investors.
You obviously missed the takeover news from Mr Kleinman literally just a few weeks ago!
BXP is part of a larger group. It's based in Bangladesh - I don't even think the majority of shares are avilable and it's been around since the 1960s. The shares on AIM are ADRS. PE buy out - get a big grip. It's never going to be a PE buy out . In fact there will never be a take over. This is a divi share.
They half price , what’s not to like !
patience is required guys and accumulation is they key, these will double up eventually or private equity will take them out. They were 70p not so long ago, bargain at this rate ! and paying a small dividend,
Alliance Pharma shares are no longer rising, currently a little out of favour.
Beximco Pharma shares are showing signs of rising, perhaps currently in favour.
I like APH, but I do not like the overhanging court case we hear nothing about.
What happened to the court case over price-fixing?
Well that reads well unless I'm missing something? Most areas up, debt down and CEO seems to have his feet back under the table.
Seems like a good entry to me. I also hold LDG, so already have exposure here.
What ILLEGAL and disastrous insider news have you got hold of here that has warranted a near 50% slide in share price in a matter of weeks to bolster your short selling profits?
Nothing cyclical about this company either.
Scum. The bankers behind this should be jailed.
Price looks low to me here so I just had to buy some this morning. I wonder if Dbay will be tempted to buy some more too.
Now it is