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A good factual find Searcher and thanks for sharing. Michael Tang and the directors did agree at the last AGM that they would respond to a request to be more proactive in publishing and making shareholders more aware of local issues and initiatives. Hopefully the Gary Lye interview is the first in that direction and has exceeded expectations by reaching out to a wider public.
I'm unfortunately not one of them. A while back I would have been saying fortunately I'm not one of them. I have wondered though, what about Nominee Accounts? My shares are held through a nominee account and I daresay a lot of other KMR shares are held in a similar manner. Collectively a nominee account could be a large holder comprised of many smaller holdings. So, indirectly, any one of us might be part of one of the 14.
Googled and found this from The Irish Times today if it helps:- https://www.irishtimes.com/business/energy-and-resources/davy-upgrades-kenmare-resources-after-price-increases-1.3226256.
Thank you bonker99 for your interpretation, opinion and for responding to my VEC chart request. https://bonker99.com/chartpictures?chart=VEC
nipper22: Quite agree, I could almost have written the same post. I've previously said that I believe this share is being held back. I don't know how or why but the sustained high volume of small automatic trades could be the manipulation factor. I recall that it was 2.7977 VEC shares for each SKP share and the "merger" price was an equivalent of 146.6p VEC /410p SKP. Hopefully the results to be announced on 21st March will be enough to stimulate a resurgent sp as VEC has stagnated for far too long, especially considering it has heavily benefitted from SKP.
Thank you MrF, a happy Christmas to you too. Wearing my medal feels like a millstone around my neck and I doubt we'll see news this side of the New Year nor the plug hole effect after it. For some time now it feels as though the sp is being held back for some reason and I wonder if the magnitude of small automated trades is causing this, although I am at a loss to explain how or why. It was announced on 22nd July this year that the accounting fiscal year end is changing and the results for the new 31st December year end will be announced in March 2017. (See the link:- http://www.lse.co.uk/share-regulatory-news.asp?shareprice=VEC&ArticleCode=b9pv07rc&ArticleHeadline=Change_of_accounting_reference_date). Perhaps the Market is waiting for this? The fundamentals look very encouraging and so do the broker rating targets, between 209p and 252p. We can either continue with spades of patience, as with Syepharma over many years, or bail out. As soon as the latter route is pursued I reckon the sp will rocket, so I'm not going to be the first to test this theory but wait patiently and perhaps buy-in on anticipation!
Expect a sugar rush next Wednesday when the results and update come out!
See under the "VEC Share News" section at the top of this page :- http://www.lse.co.uk/share-sharecast-news.asp?shareprice=VEC&ArticleCode=25131461&ArticleHeadline=Vectura_climbs_on_positive_readacross_from_Novartis_Singer_upgrade . "Vectura climbs on positive read-across from Novartis, Singer upgrade Wed, 26th Oct 2016 14:14 (ShareCast News) - Shares in medical device group Vectura were given a boost by expectations of foreign currency gains and investors reading across results from Novartis, with which the London-listed company is partnered on a handful of products. A third-quarter update from Novartis on Tuesday included strong growth in Ultibro sales to $95m, up 38% year on year. Data from clinical trials comparing twice-daily Utibron, which uses Vectura's Neohaler device, with GSK's Anoro is scheduled to arrive in around a month's time. If positive, this could lead to a US launch of Utibron in early 2017, broker N+1 Singer said, with Seebri, another device using the Neohaler, also expected to launch early next year. Singer, which also upgraded its forecasts 10% due to the recent weakness of sterling, noted that Novartis had provided a reassuring, albeit brief, update on its US respiratory strategy. Altogether, this "should drive some positive momentum for Vectura where their share price has been quiet", analyst Jamie Constable wrote in an email to clients. Vectura shares, having hit a two month low late on Tuesday, rose 6% to 138.8p by 1430 BST on Wednesday. Related Shares: Vectura Group (VEC) Vectura climbs on positive read-across from Novartis, Singer upgrade (ShareCast News) - Shares in medical device group Vectura were given a boost by expectations of foreign currency gains and investors reading across results from Novartis, with which the London-listed company is partnered on a handful of products. [26 Oct '16 14:14] " They are a bit slow in picking up on the currency gains, we were discussing this aspect ages ago. Glad you resolved the Share Certificate worry Nipper22, I was wondering if you had resolved it.
See:- http://www.lse.co.uk/ShareBrokerTips.asp?shareprice=VEC&share=vectura . Yesterday's Numis price target now £2.46.
Nipper 22, I can't shed any light for you but would suggest contacting the Company Registrars to enquire.
In addition to the merger synergy there is the currency gain from a weak GBP. The US$8m Pacira milestone receipt triggering announced on 5th August converts to approx £6m instead of £5.5m at US$1.31 instead of US$1.45. The six months €92.4m sales of Flutiform to 30th June 2016 would be worth approx £71m at €1.30 but jumps to approx £78m at today's €1.18 exchange rate.
And, as also contained within today's release, "With its existing approved asthma indication, flutiform® provides benefits to patients and health systems and in-market net sales[4] have continued to grow strongly, having doubled to €144.4 million in calendar year 2015 following the launch of the 120-puff version in Japan in December 2014. In the most recent six month period to 30 June 2016, in-market net sales totalled €92.4 million, up 42% year-on-year." Expect strong revenue to feed throught to the bottom line.
The next Trading Update is not November, it is next week at the AGM on 7th September, see todays confirmation in the release:- http://www.vectura.com/news/update-mundipharmas-european-phase-iii-trial-flutiform-copd-and-latest-flutiform-market-sales/ . Coupled with SKP's announcement of 18th May regarding strong revenue growth for this year, see:- http://www.lse.co.uk/ShareAllNews.asp?shareprice=SKP&code=6anlwfbv&headline=Skyepharma_Says_Trading_Good_Anticipates_FullYear_Revenue_Growth , I would hope to see a strong revival in the sp. On18th May announcement SKP's sp was £4,72, equal to £1.70 VEC sp.
Thank you nipper22. I want to vote and need the blue and white forms to register, the green form is to be completed if you want partial cash and reduced number of shares, which I don't. I believe there is more value to be had by receiving the full quota of Vectura shares. My shares are held electronically within a Barclays nominee account. Having contacted them they were not aware enough as I would have expected. It seems I have to give them my proxy for them to vote for or against the merger on my behalf. Overall I think the merger should be advantageous in the longer term but still am of the opinion that SKP shareholders are taking more to the party than is reflected in the 2,7977 share swap, particularly after the announcement of such outstanding results.
Anyone received their forms yet? They have to be in by 3rd May, not much time left.
MrBB, please correct me if I'm wrong, but wouldn't you be better off buying SKP at 409p as you would get VEC at 146.2p now? I.e. 409p @ 2.7977 VEC shares = 146.2p.
With the SKP "merger/takeover" sp at 410.15p I expect the Vec sp to rise above the 146.6p "merger/takeover" price, as the event seems to favour them more than us IMO. It is now at 149.1p on the bid so SKP is effectively at 417p.
Given the very strong trading results SKP announced today, I would expect the merger to be the catalyst for a resurgent VEC share price. As a long term SKP shareholder I can't help but feel the merger pricing strongly favours VEC. Hopefully, the holding back of the SKP share price today, by the capped merger price, will gather momentum under the merged entity.
I'm disappointed at the merger price to say the least. Can't help feeling that it is a sell out by the BoD's as on such outstanding results, announced a few moments prior to the merger announcement, I would have expected the sp to have flown way above the 410.15p capped merger price. Can only but hope that the Vectura sp will rally as I'm thinking they have more to gain from the merger than SKP if we were to stand alone.