(MDY) MDY Healthcare
Summary
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| 29-11-11 | RNS |
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RNS Number : 9170S MDY Healthcare PLC 29 November 2011 MDY Healthcare plc
Update on realisation of Medivance investment
29 November 2011: On 26 October 2011, the Board of MDY Healthcare plc ("MDY Healthcare" or, the "Company"), the strategic investor in healthcare companies, announced that the Company expected to realise its investment in Medivance, Inc. ("Medivance"), subject to the completion of the acquisition of Medivance by C.R. Bard Inc., for a total cash consideration of approximately US$250 million (the "Transaction"). Completion of the Transaction was expected to occur in Q4 2011, conditional on receipt of US anti-trust clearances.
Following completion of the Transaction on 10 November 2011, the Board of MDY Healthcare confirms that the Company will receive gross cash consideration of approximately US$21.8 million (£13.98 million) for the sale of its holding in Medivance. The Board further confirms that it has been advised that the receipt of the proceeds are not expected to give rise to a tax liability for the Company.
Of the total gross cash consideration, US$19.96 million (£12.80 million) was received by the Company on 28 November 2011. The balance, which is being held in escrow pending potential warranty and indemnity claims in accordance with the terms of the Transaction agreements, is due to be paid out to MDY Healthcare, to the extent not utilised, within the next 17 months.
As stated previously, MDY Healthcare currently has total outstanding indebtedness of approximately £1.65 million plus accrued interest. Following receipt of the proceeds, the Company will repay all outstanding debt together with all accrued interest. As a result of the completion of the Transaction, Stanmore is the Company's sole remaining investment.
Following the repayment of the debt referred to above, the Company intends to return the majority of the funds received from the realisation of its investment in Medivance to shareholders by the end of March 2012 and is in discussions with its advisers on the most efficient and timely way to achieve this. The Company's strategy going forward is to make further payments to shareholders on receipt of any escrow funds and the realisation, at the appropriate time, of the Company's investment in Stanmore.
The Company will make a further announcement regarding the return of funds to shareholders in due course.
For further information, please contact:
Notes for editors:
About MDY Healthcare MDY Healthcare plc is a sector specialised strategic investing company quoted on AIM (ticker symbol: MDY). Further information can be found on the website www.mdyhealthcare.com.
END
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 26-10-11 | RNS |
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RNS Number : 8576Q MDY Healthcare PLC 26 October 2011 MDY Healthcare plc
Realisation of investment
26 October 2011: The Board of MDY Healthcare plc ("MDY Healthcare" or, the "Company"), the strategic investor in healthcare companies, is pleased to announce that the Company will realise its investment in Medivance, Inc. ("Medivance"), subject to the completion of the acquisition of Medivance by C.R. Bard Inc., (a NYSE listed company) for a total cash consideration of approximately US$250 million (the "Transaction"). Completion of the Transaction is expected to occur in Q4 2011, conditional on receipt of US anti-trust clearances.
On completion of the Transaction, the directors of MDY Healthcare anticipate that the Company will receive an estimated gross cash consideration of between US$20 million (£12.500 million) and US$21million (£13.125 million) for the sale of its 10.4 per cent. holding in Medivance, depending on certain completion adjustments. MDY Healthcare will make a further announcement on completion of the Transaction, confirming the gross cash consideration received.
MDY Healthcare has invested approximately $6 million in Medivance in total through a series of investments. The Company's last investment was in June 2009 when it invested $1 million.
MDY Healthcare currently has total outstanding indebtedness of approximately £1.65 million plus accrued interest. On receipt of proceeds, the Company will repay all outstanding debt together with all accrued interest.
Following the realisation of the Company's investment in Medivance, Stanmore becomes the Company's sole investment. The Company will make a further announcement in due course about the Company's strategy going forward and the use of the balance of the proceeds from the realisation of Medivance.
Further information on Medivance can be obtained on Medivance's website, www.medivance.com.
Grahame Cook, Chairman of MDY Healthcare said:"We are delighted to announce the realisation, in cash, of our investment in Medivance. The proceeds represent a substantial premium to our investment of approximately $6 million and are considerably in excess of our current market capitalisation of approximately £2.2 million. We will be making an announcement in the near future setting out our strategy for the Company and the use of the balance of the proceeds."
For further information, please contact:
Notes for editors:
About MDY Healthcare MDY Healthcare plc is a sector specialised strategic investing company quoted on AIM (ticker symbol: MDY). The Company seeks to achieve superior returns for shareholders by investing globally in companies, both public and private, across the healthcare sector. The directors have significant operational and investment experience in the sector and therefore the ability to identify and review a wide range of potential investments. Further information can be found on the website www.mdyhealthcare.com.
END
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 15-09-11 | RNS |
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RNS Number : 2625O MDY Healthcare PLC 15 September 2011 MDY Healthcare plc
Disposal of Trust William Business
15 September 2011: MDY Healthcare plc ("MDY Healthcare" or the "Company"), the strategic investor in healthcare companies, today announces that the Company has, acting through its subsidiary Trust William Limited, sold the business and assets of Trust William Limited ("Trust William Business") to Optima Consumer Health Limited ("Optima"), a wholly owned subsidiary of William Ransom & Son Holdings plc, for a nominal consideration based on future net sales of the Trust William Business.
The Trust William Business was established in August 2007 as an online retailer of natural healthcare products, pursuant to joint venture arrangements between MDY Healthcare and William Ransom & Son Plc. In the year ended 30 September 2010, Trust William Limited had net sales of £145,000.
MDY Healthcare announced in its half year results in June 2011, that, following the completion of a strategic review of Trust William Limited, MDY Healthcare had entered into non-binding heads of terms to dispose of the Trust William Business for nominal consideration. MDY Healthcare also announced at that time that a full provision had been made against the loan to Trust William Limited.
The sale of the Trust William Business will terminate MDY Healthcare's obligation to fund that business, which has been loss making since its establishment.
MDY Healthcare will receive consideration for the sale of the Trust William Business of an aggregate amount equal to 2.5% of net sales of the Trust William Business for the period from 15 September 2011 to 1 April 2014. Payment will be made in cash to MDY Healthcare on a quarterly basis in arrears. These nominal sale proceeds will contribute to the administrative of costs of winding up Trust William Limited.
Following this disposal and the conclusion of the Company's cost reduction program, MDY Healthcare is now committed to realising the value in the Company's two successful investments, Medivance and Stanmore.
For further information, please contact:
Notes for editors:
About MDY Healthcare MDY Healthcare plc is a sector specialised strategic investing company quoted on AIM (ticker symbol: MDY). The Company seeks to achieve superior returns for shareholders by investing globally in companies, both public and private, across the healthcare sector. The directors have significant operational and investment experience in the sector and therefore the ability to identify and review a wide range of potential investments. Further information can be found on the website www.mdyhealthcare.com.
END This information is provided by RNS The company news service from the London Stock Exchange More |
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| 07-07-11 | RNS |
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RNS Number : 9859J MDY Healthcare PLC 07 July 2011 7 July 2011 MDY Healthcare plc
Assignment of Head Office Lease
MDY Healthcare plc (the "Company"), the strategic investor in healthcare companies, today announces, as anticipated in the Company's Half Year results announced on 30 June 2011, that it has assigned the lease of its head office which has a five year unexpired term. The Company will pay an exit premium of £150,000 (plus VAT) and receive repayment of its existing lease deposit of £114,000, resulting in a net cash outflow of £66,000 plus associated advisory costs in connection with the assignment.
For further information, please contact:
Notes for editors:
About MDY Healthcare MDY Healthcare plc is a sector specialised strategic investing company quoted on AIM (ticker symbol: MDY). The company seeks to achieve superior returns for shareholders by investing globally in companies, both public and private, across the healthcare sector. The directors have significant operational and investment experience in the sector.
This information is provided by RNS The company news service from the London Stock Exchange More |
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| Result Pages: 1 | ||||
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Have a look at the news item when MDY dumped "Just William". The following paragraph was on that and I think it answers your question.
"Following this disposal and the conclusion of the Company's cost reduction program, MDY Healthcare is now committed to realising the value in the Company's two successful investments, Medivance and Stanmore". This was confirmed in the update about Medivance in November when they advised they had received £12.8M and a balance of £1.18M was held in escrow in case of any indemnity or warranty items arising. My concern about that is to ask if it is the time the balance is held in escrow that is causing the delay in the majority of cash received so far being paid out to shareholders? If so, is the significant interest on that to be added to the amount we might receive or is MDY entitled to retain it? Cheers...jaymac3 |
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| Sun 10:46 | ||||
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I've been a bit remiss with this share and not really tracked what's been happening. I know that we are going to get a payout from the recent sale and that the company are hinting at further possible return to shareholders. My question is what else do we have in our portfolio and if the company are paying back profit to the shareholders does this mean they are no longer investing and are more or less closing their operation down? Any views on this would be welcome.
Thanks |
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| 20-01-12 | ||||
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Thanks Dickie, but could you please post what the top 100 best performing shares WILL be in 2012.. Past history means little in AIM.
Stockpedia had a similar article in Jan 2011 '' 2010 Top 50 AIM performers'' Have just stopped at the top 11,and just shows the danger of investing last year in these companies because they were the best performers previous. Jan 2011, one year on XCAP 5.2p 1.88p -64% NWIG 14.2p 6.0p -58% QRES 21p 17p -19% MNC 26p 10.5p -60% BZM 85P 30p -64% WAS 3.0p 1.5p -50% KEA 14p 5p -64% SGZ 6.5p 4.5p -30% DGB 210P 164P -21% EZD no change NCCL 220p 60p -70% |
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| 27-12-11 | ||||
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Top 100 performers - 2011
HOW MANY OF YOUR STOCKS ARE ON THIS LIST? Four of my favourites are there including No. 28 VALiRx, which completely took me by surprise! http://uk.finance.yahoo.com/news/aim-stocks-once-again-dominate-102943327.html -------------- The Mail.. ....Some interesting and relevant articles from the Mail On Sunday re- The economy, shares, interest rates...what next for 2012? --------------- Markets/Eurozone Crisis http://www.dailymail.co.uk/money/markets/article-2078156/AIM-market-hit-eurozone-crisis-investors-prefer-play-safe.html ---------------- Credit Crunch-warning http://www.dailymail.co.uk/money/news/article-2078467/Credit-crunch-How-protect-money-experts-warn-real-possibility.html ---------------- The Next Recession http://www.dailymail.co.uk/money/news/article-1616085/Economy-watch-Is-Britain-heading-recession.html ---------------- Interest Rates-predictions http://www.dailymail.co.uk/money/news/article-1607881/Interest-rates-News-predictions.html ---------------- where next for shares in 2012 http://www.dailymail.co.uk/money/investing/article-1619305/Stock-market-predictions-What |
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