Member Info for dallo

Solley

I am just a tad disappointed that the major strategic plan
presented at today's CMD has been such a damp squib given the
level of importance placed on it by Mc Call and her management team
and the market's anticipation of her Strategic Refresh vision.
Perhaps the spectre of a possible rights issue to part fund a bid for Endemol is restraining
the enthusiasm of investors including myself.

The CMD must have been decidedly underwhelming given the
reaction of the share price .
Dame McCall has a lot to do to refresh ITV with SP nearing half it's
5 year high of 280p in 2016 and at multi-year lows
Buying Endemol would be a disaster and the best for all concerned
is to sell ITV to one of the big beasts

I would love to know what they are all on in Liberum who
recently reiterated a buy rating on ITV and a target price of 275p .

Who needs research when you can smokee the weed and read the Beano all day.

If ITV resorts to funding the purchase of Endemol via a rights issue/ debt mix
it would be using lowly rated equity ( discounted) to buy an overpriced asset.
If ITV was on a p/e of 15/20 it might make some sense to proceed but Endemol
will not be earnings enhancing in the short term( at least) so we may end up
with a share price of c120p but on a lower p/e
How does that make for good business.

ITV now valued at below 10 times 2018 earnings and less than 8 times EV/EBITDA
which is staggering when compared to the loss-making Endemol valuation of $3b
Very strange and upsetting and Mc Call needs to show her mettle quickly
starting tomorrow at the CMD

Share price bouncing back as minor panic subsides
ITV still tipped as No 1 takeover target in European media
sector ( Survey of 20 Euro M&A institutions)
The interest in Endemol is logical in terms of McCall's strategic refresh
but ITV will not ( should not) pay over the odds if it goes for it.
I suspect ITV have more to worry about if it becomes the hunted itself.
Stay cool as the consolidation in the Industry is set to intensify according
to John Malone in a recent interview on CNBC

Retour

I suggest you confine your boating options to a trip on
one of the paddle boats on the Serpentine ---at least until next week.

All Tim has to say is that discussions are still ongoing with
potential partners and we will be back over 20p
The absence of such a statement in last week's RNS
was a big factor in the subsequent drop in the share price imho

Lisa cannot be as sick as the rest of us here!!

New iPhone just out with new bells and whistles to keep the
world's human drones fixated on a minute by minute basis
Apple now valued at 1.000,000 million dollars while Lupuzor , a potential
treatment for a life-threatening disease is valued at 8 million( after cash)
What a mad world!!!

I would not be concerned about Directors not buying at these
levels given that Robert Zimmer, President and Chief Science Officer has 18,2%
of the total shares in issue and Dimitri Dimitriou CEO, has 2.56%.
Their combined shareholding was valued at over £ 50m just 6 months ago
( before the Phase 111 bombshell) and is now worth just over £4m
Our esteemed Chairman has share options which I suspect would not be
worth the price of a pint of warm bitter

Retour

You may be right but I don't see any sign yet of shorts closing
and they will be very nervous of a RNS on a partnership or takeover.
No volume on the offer to accommodate a buyback of millions of shares
A buy order of 500,000 shares would drive the SP wild

I am not convinced that there was a lot of shorters involved
but maybe the Sunday Times article was "leaked" to a few interested
parties on Friday
There is not sufficient liquidity or shares available on loan to drive
a short attack successfully
I put it down to panic selling and stops being hammered
A holding RNS may clear up the situation

One of the main reasons for the sharp slide in the SP
over the past few days ( apart from the dreadful article in the Sunday
Times) was the absence of any mention in the RNS of the ongoing discussions
with potential partners who have been sent the Phase111 data under an NDA.
Anyone who knows the pharma industry will know that these matters take time
and the discussions are highly confidential.
The absence of a reference in the RNS to any ongoing discussions should not be interpreted
as a negative until the outcomes are known imho
For now it appears the selling has abated and we may get a holding RNS soon on who
bought the sizeable volume of shares sold in the panic

Hopefully we will see a rebound before the close with an upbeat RNS
in the morning.
We all need cheering up after the last few days !

The 12m shares dealt over the past 2 days has cleared out a large
amount of the remaining PIs thanks in part to the RNS and largely to the
Sunday Times article.
The company is now valued at £20m so do not be surprised by significant
corporate developments.

Between 60-70% of Lupus sufferers are Anti-ds DNA antibody positive

When Immupharma drilled into the Phase 111 data it was found that 71% of the
European patients who were antibody positive responded favourably to Lupuzor
while in the US the figure was 39% with an overall cohort positive response of 62%
( ie a significant reduction in disease activity in patients with anti-ds DNA)
Immupharma is looking at the US response to determine the reasons for
the different responses compared to the European cohort
These results when combined with the small number of full remission cases
are cause for cautious optimism imho

Retour

I fully concur with your comments on the Sunday Times article
To the uninformed investor it suggests that Immupharma is heading
for the rocks which clearly it is not as yet.
No mention of the MAP or the Extension Study or the proposed sale
of the French business.
Highly alarmist and reckless journalism and totally inaccurate IMHO

In reading the RNS I cannot see any evidence that Immupharma or the regulators
think Lupuzor is a busted flush with up to 500 Lupus sufferers going on a
Managed Access Programme ( MAP) and 62 patients continuing to receive
Lupuzor in the Extension Study.

If Lupuzor was not considered safe or not to have any benefits in treating this disease
it would not be administered to patients in any form.

I admit that Immupharma may not have the financial resources to bring Lupuzor to
final stages of approval and development but the major Pharmas do and
hence I feel there is a lot going on in the background.

With a market cap of just £ 24m ( £ 12m in cash) expect one of the big beasts
to pounce soon

Keep the faith as there is significant value still here imho

Dannyb

ITV is still a fine company on a low P/ E, minimal debt and a healthy dividend
It is moving its business model away from a mainly TV advertising base
to studio production and online/digital offerings.
I feel we have to give Carolyn McCall time to implement strategic change.
The online behemoths , Facebook ,Google , are now facing serious challenges from
regulators and major advertisers and their wings could be clipped very soon