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SIG - Sigma Healthcare

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Hehehe....I like that "the Bishop & the alter boy." I am over SIP now....took an overall hit of .72 cents a share. Well, the pain lessens each day but I will live.

I am only watching SIP out of interest, given the length of time of the trading halt there must have been one hell of a sh*t fight between the Board and the Auditors.

Surely, when the Board of SIP buy something for hundreds of millions of dollars you would expect them to do due diligence very diligently. How can they be SO WRONG.

Further, they must have known when they did the latest capital raising yet no warning was given and I took up the rights issue in good faith.

I still haven't receive anything about a class action but if it cost me nothing or very little I will definately join in. Judging from what I read regarding Storm Financials, Opes Prime, ABC Learnings, Allco etc....I think it is every shareholders' duty to prosecute Directors & CEO if there is a decent case against them for breach of fudiciary duties, afterall, we the shareholders pay them millions and millions of dollars.
 
so where does sip go now?
do you think the new management will be able to turn things around?
or is it just going to be a lost cause?
I always find it interesting that no matter the size of an organisation nobody is too big to make mistakes.
 
well toiday i see board resignations wonder where this will end up now?
could be a major shakeup?
i guess it was inevitable.
 
"Sigma advises that it has received a non-binding, indicative and conditional proposal to
acquire all of the issued share capital of Sigma for an indicative price of $0.60 per Sigma
share under a scheme of arrangement or other whole of business transaction.
The Sigma Board is considering the proposal and recommends that shareholders take no
action at this stage. Sigma will make a further announcement in due course."

So why is it that the sp doesnt rise to just below 60c? Does the "conditional" proposal have to do with anything?
 

Yes, the "conditional" and the "non-binding" and the "indicative" bits!

It's a punt and the market's marking it at about a better than even bet at the moment.
 
Conditional takover offer @55c

Doubt that It'll be taken up.

tp://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01077478
 
latest annoucement says board is considering this offer and working with the bidder to improve it

Also they are considering other options in selling off assets.

but seems to me they don't have much choice but to accept this offer if that's the best they can get. That is quite a premium on currrent share price 13c higher.
 
From the latest announcement, sigma and aspen agree in principle to a 900m take over of sigmas pharmaceutical division. This would value each share at about 75c. I wonder how long it'll actually take to draft up the necessary paperwork for this haha. Either way, imo it looks good for those who entered in the 50c mark or below.
 
Todays biggest drop SIP is currently @ .405. Close to it's lowest for the year.

Anyone know what has caused this second drop?

EDIT:
Sigma Pharmaceuticals has been informed by one of its major suppliers, Pfizer Australia (Pfizer) that from 31st January 2011 Pfizer will be expanding its current "Pfizer Direct" model so that all prescription products (PBS and non PBS) will be delivered by Pfizer direct to pharmacies. This program will by-pass the national full line wholesaling system. Pfizer also announced it would not be seeking to participate in the Community Service Obligation (CSO) funding pool.
Sigma will continue to distribute Pfizer’s OTC & Consumer Products.
As a result of Pfizer’s decision, Sigma expects its annual wholesaling revenues to decrease by approximately 10-15% from February 2011. However the full impact on future earnings is being assessed. Given the significance of this change, combined with the impact of the recent PBS reform legislation, this will accelerate the need for Sigma to further reduce its customer trading terms.
Sue Morgan
GENERAL COUNSEL AND COMPANY SECRETARY



T
 
API also had a massive tumble today, if I had to choose they would be the much better buy
 
SIP SIGMAPHARM FPO Interim 0.15 05 Apr 2011 11 May 2011 100% 15C FRANKED @ 30% SPECIAL


Should see it crack 50.
 
Certainly is a remarkable dividend -- don't get the reasoning behind it however
 
Muschu said:
Certainly is a remarkable dividend -- don't get the reasoning behind it however
Click to expand...

They sold their generic drugs business last year and got the spare cash to distribute out in the form of a dividend...

It was always on the cards.
 
Can someone help with new calculation, what is the new value / entry price for this stock? I am hoping to see the bounce and want to buy at dip.

Appreciate & thanks.
 
wasabi said:
Can someone help with new calculation, what is the new value / entry price for this stock? I am hoping to see the bounce and want to buy at dip.

Appreciate & thanks.
Click to expand...

I can't calculate this but the stock is pretty much at a 12m low. It may go lower - I have no idea.

Or perhaps there has been an over-reaction to the special dividend, perhaps not.

But how would you know where the bottom is? Surely better to buy on an uptrend?

Just my thoughts.

Rick

- Holding SIP
 
SIP has done well recently but now seems to be trending down after holding up well....

That, "holding up", seems a compliment to the company in a market which is currently suffering.

Yet there appears to be no bad news.

My approach, as best as I understand it, is a combination of TA, FA and just getting older.

Any views on where SIP is heading in the longer term?

Thanks

Rick
 
Nice 15+% rise to a well over 12mth high

60c atm on the release of theri half year report.

May even see a 1.5 fully franked dividend.
 
Good to see they're continuing to get their receiveables in order. They used to pretty much fund all their customers. I think it's probably still too early to get too excited though, especially with more PBS price changes coming.
 
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