1152 replies to this topic

[David-89]

Any comments on the ASCENDIS HEALTH LIMITED – Trading statement for the six months ended 31 December 2020

https://www.moneyweb...-december-2020/

Are we all doomed?

Well I think we all knew what we were investing in was high risk. Let’s see what month end brings, personally I am not hopeful - the debt levels are just far too high to be managed and I don’t see Ascendis no matter what their operational performance is being able to trade their way out of this debt pile even if Blantyre and L1 do allow an extension period which clearly isn’t going to happen. Blantyre and L1 have made a great move here and they going to pick up some great assets for chips it’s just a pity I’m on the wrong end of this deal.

I will hold onto my shares, cross my fingers and clench as I’m already in a huge loss making position so what’s more loss at this point

Edited by David-89, 25 March 2021 - 03:29 PM.

[David-89]

Any comments on the ASCENDIS HEALTH LIMITED – Trading statement for the six months ended 31 December 2020

https://www.moneyweb...-december-2020/

Are we all doomed?

Well I think we all knew what we were investing in was high risk. Let’s see what month end brings, personally I am not hopeful - the debt levels are just far too high to be managed and I don’t see Ascendis no matter what their operational performance is being able to trade their way out of this debt pile even if Blantyre and L1 do allow an extension period which clearly isn’t going to happen. Blantyre and L1 have made a great move here and they going to pick up some great assets for chips it’s just a pity I’m on the wrong end of this deal.

[JR7800]

Any comments on the ASCENDIS HEALTH LIMITED – Trading statement for the six months ended 31 December 2020

 

https://www.moneyweb...-december-2020/

 

Are we all doomed?

[Investment novice]

Activist group meets ifc ....call was at 3pm sa time..9am washington dc time


We had a very productive meeting with IFC. We went through our position statement. They were pkeased to undertsand our objectives. The market is aware of us.......1. They acknowldged asc activists group .2. They are aware of the transaction and running scenarios. 3. We requested their oversight and deal scrutiny....4. We should expect further communucation from them in time. 5. We both acknowledged the limitation with info xurrently.

[Investment novice]

American Medical Association Approves Hydroxychloroquine

[Investment novice]

IN, could you possibly copy and paste article into on here?

Thank you

Sorry Larry have some of the images from discord. Not sure how to get link or paste If anyone can assist.

[LarryK]

IN, could you possibly copy and paste article into on here?

Thank you

Anthony clarks paper out. He suspects profitbwarning duebto high debt and high finance costs. But sees share price upside on deal conclusion
Very interesting....

[Investment novice]

Anthony clarks paper out. He suspects profitbwarning duebto high debt and high finance costs. But sees share price upside on deal conclusion
Very interesting....

[Investment novice]

@Investment Novice, did Mr Sardi mention anything about the debt that Blantyre/Letter1 doesn't own? What shape will this take after the deal? Is there any intention from the lender to cash in or what?

Further information will be provided on 31 March. Everything depends on the valuation and the scenarios that play out. From the sens if there is debt ...refinance at better rates....market

[Shi]

@Investment Novice, did Mr Sardi mention anything about the debt that Blantyre/Letter1 doesn't own? What shape will this take after the deal? Is there any intention from the lender to cash in or what?

[Investment novice]

Hey.....snh....qualify our posts....buy based on your investment strategy ....these are high risks...intention is to make money.....pray for everyone...

Snh was a time based play....and this seems similar....

Many here we evaluate see potential and then buy....somethings dont go our way like this flipping curveball lender led crap we having to now not only post but get sleeves rolled up for....

[LarryK]

Hey IN I bought R50k worth of shares in asc because of your comments on snh so no pressure buddy 😂

[AMG76]

Thanks again for all the work and effort going i to behind the scenes activities

[Investment novice]

Just to echo...current share price due to dumping in the market- concerns of liquadation not meeting april 30 target and no info around deal structure..


Following the meeting....we believe the parties to be consensual to close the transaction. Letterone already got debt at a discount. They wont screw shareholders. With our market cap at r250m we have little to lose to stall the process and end up in business rescue....


So consensual process and we have the april fear nullified.

Work through andis posts last week...residual value looks great...

I hope we share in the european company as they very likely to list and we will have dual listing....long term....

Debt is a kak number and finance xosts will wipe out ebidta according to anthony clark...so a deal to reduce debt and refinance at reasonable levels is more appropriate....

Futire isnless bleak...

And there is meat on the bones as per finance ghost

[Investment novice]

Dear Ascendis Investors

We recently held a meeting CEO Mark Sardi.

Please see below the hi-level points following the meeting With CEO Mark Sardi 14/03/2021.


Disclaimer- minority shareholders have reached out to the CEO to get a better understanding of the journey the ceo and the board are undertaking to resolve the liquidity challenge at Ascendis. The discussion was focused around seeking clarity and a better understanding of the contents of the SENS and positioning to the CEO our willingness to support Ascendis. We were at all times cognizant of the CEOs position and the limitation of the information that could be shared which could be market sensitive. we utilised the time as well to convey to the CEO concerns raised by our members in the various forums and the importance of transparency in detailing the process and specifically reports and valuations. The minutes below represent the discussion and were NOT shared with Mark for confirmation as a true and adequate reflection of the meeting AS WE WAS TRAVELLING AT THE TIME OF POSTING. Harry Smit chaired the meeting supported by two shareholders (Ascendis activitis twitter handle; and the other a Health market activist). The meetings participants disclose that they are holders of Asc shares at the time of the meeting.


Minutes

1. We had a very positive meeting and talked through the journey required for this transaction.
1.1 We requested Mark to detail this as well in the 31 March presentation
1.2 Mark the Board are preparing the proposal for the discussions with LetterOne and Blantyre. There are 2 scenarios one for Ascendis and the shareholders to remain involved in the subsidiaries or 2 to exit and hold only South African assets debt free potentially. The team are still looking at the valuations and there is still work to be done Some information will come through on 31 March the rest by April 30
1.3 The stakeholders are working towards a consensual process preventing a stalemate and then having to go into Business rescue proceedings in SA and Europe
1.4 PSG and Rothchild's are involved in the valuation process and Rotshcilds have in-depth understanding of the processes and legalities in SA and globally.
1.5 we informed Mark that shareholders that we represent today are concerned about the lack of information in the market to better understand what is transpiring.


2. Ascendis recognizes the involvement and support of the Activists group and will engage with us regularly and as part of the roadshow.
2.1 Ascendis will offer the activist group secretarial support to formalize the share pledges into proxies where required
2.2. we are requested to collate questions we believe should be addressed for the 31 March presentation


3. Ascendis financial situation- information available already
3.2. Ascendis is operationally sound and the trading update and increase in top line revenue and ebitda is noteworthy
3.3 The impact of the debt , which increases due to the pic clause in the agreement, and finance is not sustainable and erodes shareholder value . This has always been the focus.
3.4 divestments of non core businesses would go towards paying of debt


end of minutes.

OUR PERCEPTION OF THE MEETING

1. We as shareholders should note that our involvement is critical and we need to consolidate the retailers to ensure the vote is concluded and represents our best interest
2. We need to continue increasing pressure; focus and attention on the transaction with media support to ensure the transaction is consensual and that shareholders are not compromised
3. We appreciate that the CEO has recognized our group and will engage with us on the road show.
4. We have an important role to support the board and CEO to reach a conclusion and a decision that increases our value and reduces risk and debt
5. we require institutional investors to continue to support the course and reach out to us to formalize our grouping and increase our voice. we will reach out to the institutional investors as well to consolidate and formalize an interim shareholder committee

Kind regards
The Ascendis Activist Investors Team

[Shi]

https://thefinancegh...scendis-health/

[Tom]

What worries me is that they come back with a deal like: Exchanging equity for debt injection (extra debt), any deal like that should be refused, and if a penalty is to be imposed should the share holders refuse, then management should be voted out and the whole deal should be nullified and no penalty paid to the creditors.

 

Also Blantyre and L1 bought the 5.1 billion debt at discount, which means the market value of the debt they have is less than 5.1 billions, and so any deal should be looking at the actual price they paid, and give them a value equal to that.

 

Ant threat of liquidation should be challenged, especially that the creditors will be losing much more than the share holders, and company should apply for business rescue.

 

It's either all stake holders get a good deal (especially the share holders), or let there be no deal at all with sharky creditors.

Edited by Tom, 13 March 2021 - 06:35 PM.

[Investment novice]

There is a team formed in discord...engaging sardi tomorrow . Dont expect he can say much...but certainly can listen. Harry is the designate media person and we have shared some roles responsibilities.
There is a media campaign planned with a strict message.
We want global and local attnetion on this deal and oversight. The sens by blantyre says clearly they donot believe sale of remedica is for ascendis and all stakeholder benefot and their intervention should hence privode for a better outcome. We want the world to keep an eye on whether they will be truw to their word as angels saving the day or whether its a hostile takeover and they screwed a company and shateholders.....if we at war there will be reputational damage if parties are playing for asc and stakeholder sucess and the agressive time lines are for asc benefit...well we all drink green beer....
Shareholder are coming together and we calling on SA and the qorld to help us save an SA company and ensure a fiar transaction ensues....and not abusive due to a liquidity noose ...created by the saviour themselves under the guide of blocking a sale that would free the debtor

[Shi]

Anybody got a list of what is still for sale and how much they can bring in?

 

That interview Harry Smit was a real eye opener. It did make me think of whether or not Blantyre/L1 could force a deal by saying that if you don't agree, then we back to the loan and you pay 5% (about R250m for them) per annum and no sales of certain assets. This would be bad for ASC. They are sharks and want to go for the kill. They also don't strike me as the party who's going to take stakes in something, they want the whole pie. 

[DeltaHedge]

Hi all....lots of work happenning in the background to create media noise around deal. Also engaging govenrnace and oversight bodies to oversee the transaction........

To andis point and dell and others.....we need a fair transaction....which should be step 1.

Fair amount of debt for fair equity. We can also do this textbook.

The company sens has been poor. The sfa is not available - the ttue debt quantum is not available. The quantum of penalty interest is not available. The valuation methodology is not available.

These information blocks should be disclosed.

Sure there are elements to the deal and negotiations that are market sensitive....

We going to communicate this to mark tomorrow.

And we hoping in time shareholders are not shafted if hypothetically we have a conflicted board or other forces at play...governance oversight will ensure this deal is scrutinised.

Really ...we need the numbers.....blantyre should only to Andis points get 49% of remedica. If they want the full. They must settle the remainder in cash....prefer we keep a stake...


Not sure why all analysts paint this as if blantyre takes all and leaves shareholders with hot coal in their hands....

Asc can hold debt as all companies do....

Maybe we dont have the full picture, if buying at this price with the potential deal ahead is such great risk/reward then why dont management buy in unless they are prevented from doing so ?