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SRX, SIRTEX MEDICAL LIMITED
blacksheep
post Posted: Jul 3 2019, 12:49 PM
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In Reply To: blacksheep's post @ Jun 22 2018, 12:49 PM

Former Sirtex boss pleads guilty to insider trading

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The stock rout lead to a shareholder class action, which was reportedly settled last month for $40 million.

Sirtex was sold to a Chinese consortium last year in a $1.9 billion deal that valued it at $33.60 a share.


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Justice Bernard Murphy issued orders to ensure that Sirtex's new owners, CDH Genetech and China Grand Pharmaceutical and Healthcare Holdings, retain $80 million in case the class action was successful.

"I consider there is a reasonable prospect that the applicants’ case will succeed and Sirtex may be required to pay substantial damages, and I am persuaded there is a danger that Sirtex’s assets will be removed from the jurisdiction," Justice Murphy said.


https://www.smh.com.au/business/companies/f...703-p523na.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 22 2018, 12:49 PM
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In Reply To: blacksheep's post @ May 22 2018, 02:22 PM

SP currently $31.49 - 52 week high
Noticed a notable short alert for yesterday reported by Shortman - someone thinks the SP is going to fall?

QUOTE
Thu 21st Jun, 2018 643,389 55,773,045 1.15% 1,224,084 52.56%

https://www.shortman.com.au/stock?q=SRX
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Jun 14 2018, 08:35 PM
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biotech Sirtex has backed a $1.87 billion bid by Chinese group CDH Investments, ditching a previously agreed deal with a rival.

The company (SRX) told its shareholders tonight that the previously announced $33.60-a-share bid from the Chinese group had been amended and now included CDH’s strategic partner China Grand Pharmaceutical and Healthcare Holdings as a joint bidder.

“The board has undertaken a comprehensive investigation of the merits and risks of the CDH-CGP proposal, including seeking specialist advice in relation to specific regulatory, legal, funding and other risks,” Sirtex’s interim chairman John Eady said.

“Based on the materially higher offer price and our evaluation of associated risks, the board of Sirtex has formed the unanimous view that the CDH-CGP proposal is a superior proposal and is in the best interests of shareholders."....



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
myshares
post Posted: May 22 2018, 08:06 PM
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In Reply To: blacksheep's post @ May 22 2018, 07:34 PM

rarely want to acknowledge or discuss.... while the share price is being pumped and news is flowing, whether it is true or fake news...

but when the truth comes out = anger and betrayal.

 
blacksheep
post Posted: May 22 2018, 07:34 PM
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In Reply To: myshares's post @ May 22 2018, 06:13 PM

Indeed, myshares.

What's more disturbing is that shareholders rarely want to acknowledge or even discuss. No doubt it's why so many lose their shirts
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
myshares
post Posted: May 22 2018, 06:13 PM
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In Reply To: blacksheep's post @ May 22 2018, 02:22 PM

Makes you wonder about the governance of a lot of ASX companies - let alone the banks, AMP, small Perth mining companies that backdoor list...


Said 'Thanks' for this post: blacksheep  
 


blacksheep
post Posted: May 22 2018, 02:22 PM
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In Reply To: blacksheep's post @ Feb 9 2018, 03:19 PM

Sirtex in trading halt over developments on CDH takeover offer

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"The trading halt is requested pending the release of an announcement on material developments in the proposal from CDH ," Sirtex said in a statement on Tuesday.

The company has been facing shareholder class actions relating to a December 2016 downgrade of its sales growth forecasts for its microspheres, which are used to treat some cancers. The two class actions, which involve a 37 per cent fall in share price on December 9, 2016, were recently consolidated into one by the Federal Court.

Separate to the class action, its former chief executive, Gilman Wong, is also being investigated by the Australian Securities and Investments Commission over trades he made in the troubled biotechnology group's shares ahead of a profit downgrade. Mr Wong has denied any wrongdoing.
The company last year paid a penalty of $100,000, without any admission of liability, after being issued with an infringement notice by ASIC for allegedly breaching its continuous disclosure obligations to shareholders.

https://www.shortman.com.au/stock?q=srx

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: myshares  
 
blacksheep
post Posted: Feb 9 2018, 03:19 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Feb 2 2018, 11:09 AM

Deutsche Bank have been borrowing stock- now returned
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2-Feb-18 Deutsche Securities Australia Limited Return of stock borrow to BNP Paribas Securities Services
(Refer to Schedule 2) N/A -372,486 -372,486

https://www.shortman.com.au/stock?q=srx
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 2 2018, 11:09 AM
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Posts: 6,791
Thanks: 2307


In Reply To: blacksheep's post @ Feb 1 2018, 01:18 PM

Another notable short alert was recorded yesterday on Shortman - SP currently down slightly 0.18% @ $27.45/share

QUOTE
Thu 1st Feb, 2018 801,767 55,773,045 1.43% 6,499,625 12.34%

https://www.shortman.com.au/stock?q=SRX
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 1 2018, 06:43 PM
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Posts: 6,791
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In Reply To: nipper's post @ Feb 1 2018, 03:39 PM

If there are others waiting in the wings, then surely the price is expected to increase - as is the case with AWE. Why then short the stock, expecting the price to go down?

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One market watcher who does not own the stock said the premium Sirtex received was "unbelievable" for a company that is "flat to declining", making it a great call to sell.



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Morgans senior analyst Derek Jellinek said the soap opera of Sirtex is coming to an end with this bid, and does not expect a higher offer to emerge.

"The bid effectively ends what has been a roller-coaster ride for investors," he said. "Numerous clinical trials have failed, they wrote down millions in R&D and fired their prior CEO due to questionable trading and they are facing two class actions.

"We are surprised by the transaction, viewing Sirtex more as an acquirer rather than an acquiree. The offer is 30 per cent below the highest the stock reached about two years ago. However, Varian's multiple is quite substantial, valuing the company at about seven times sales or, on an EBITDA basis, 18 times. These are multiples we normally see with biotech companies that are driving growth, so we see it as a net/net win for shareholders given those transaction multiples."

Read more: http://www.afr.com/business/health/biotech...d#ixzz55qNgWMt1






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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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