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PBP, PROBIOTEC LIMITED
nipper
post Posted: Sep 25 2019, 04:55 PM
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Last post 2010 !
QUOTE
Listed healthcare firm Probiotec was in front of fund managers on Wednesday, seeking to raise $10.5 million in growth capital.

The pharmaceutical and consumer healthcare manufacturer tapped Shaw and Partners to oversee the placement, with proceeds earmarked to pay for future acquisitions and reduce debt. The company also plans to use the fresh equity to help fund the purchase of pharmaceutical packaging company ABS in July for $23 million.

At the time, Probiotec managing director Wes Stringer said the deal would be largely funded from existing cash reserves, which were derived from Probiotec’s strategic sale of non-core assets over the past 12 months. These included the divestment of weight loss shakes maker Celebrity Slim to Global Brands Australia for $6.75 million cash, and the sale of its Gold Cross, David Craig and Skin Basics brands to Singapore’s iNova Pharmaceuticals, and its Impromy brand to Blackmores.

Seems a messy outfit.



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macduffy
post Posted: Feb 21 2010, 01:05 PM
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In Reply To: anne's post @ Feb 21 2010, 10:34 AM

Hi Anne.

No, there's been nothing more about the foregiven loans which comprises such a large part of PBP's "profit".

Hard to understand how the company can announce this without comment, even more so that the listing rules appear to allow it without any query from the ASX. So I guess we know where we stand on this!

I wonder if the institutions who bought into the placement in September when the SP was around $2.70 are feeling now? Or have they already quit? I wasn't too happy about directors and management selling down their holdings at that time but could see how one could make a case for it in terms of broadening the shareholders base; diversification for the individuals involved etc.

The pity of it is that I think the company has a pretty sound and profitable business and must say that I've done well out of it in the time I've held. But confidence in management is paramount in my book!

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anne
post Posted: Feb 21 2010, 10:34 AM
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In Reply To: macduffy's post @ Feb 18 2010, 11:18 AM

Hi MacDuffy

I also held PBP and noticed the loans forgiven entry.

I phoned th co. before the market opened to ask about it- but just got put through to voice mail. No-one ever did get back to me!

I decided they wer probably displaying a serious lack of integrity so decided to sell. But only managed to get out at $2.10 and $2.08.

Did you ever find out more about the forgiven loan thing?

I am getting very tired of having to read these profit reports line by line to discover the deception!

The share market can be a very dirty game when the economy turns a bit tough.

cheers Anne

 
macduffy
post Posted: Feb 18 2010, 11:18 AM
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In Reply To: macduffy's post @ Feb 18 2010, 05:23 AM

I didn't like the look of the interim result without the beneficial effect of the Forgiven Loan in Other Income, so I'm out of PBP.

Not the only one judging by the fall in the SP today. Would have thought that an item of this magnitude would have warranted some comment - but then that would have spoiled the upbeat tone of the commentary somewhat!

 
macduffy
post Posted: Feb 18 2010, 05:23 AM
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An impresive interim result from PBP yesterday - on the face of it - with NPAT increasing from $4.3m to $6.2m.

But what's this "Loans Foregiven" number of $4.089m included in "Other Income"?

And wouldn't the NPAT look very different without it?

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macduffy
post Posted: Sep 24 2009, 06:23 AM
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Does anyone else share my concern that PBP have raised the very modest amount of $12m new capital by issuing shares to institutions in an underwritten issue at a discount of 5.25% ?

The "old" concept of a pro rata offer to the owners of a company seems to be going by the board. Of course, a pro rata issue doesn't allow directors and senior management to couple the issue with a sell down of their own holdings, as is the case here.

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whocareswc
post Posted: Aug 21 2009, 09:17 AM
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In Reply To: macduffy's post @ Aug 20 2009, 03:16 PM

im loving PBP, just wish i bought more at $1.20 .. does anyone have an idea where the price will settle?

 
macduffy
post Posted: Aug 20 2009, 03:16 PM
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In Reply To: macduffy's post @ Aug 20 2009, 02:45 PM

Probably the most impressive aspect of this result is that Probiotic's Gross Margin has increased to a heady 50.8%!

Can any company beat that?

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macduffy
post Posted: Aug 20 2009, 02:45 PM
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PBP's NPAT up 41% in another strong performance.

SP up 15c today to $2-45.

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whocareswc
post Posted: Dec 1 2008, 02:47 PM
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and it is still preforming well in this climate. cool.gif

 
 


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