Oh dear, oh dear an EGM to give our fast-talking but slow-acting execs more incentive. Really...and what happened to the last swathe of incentive - did it die "on the vine" as it were through oversight...did I miss a return to 8op?
No? you mean it's still about 25p like it was ages ago with the risk of an exec take-over?
SO "what" has happened since them? Where is the incentive for shareholders?
Ah! there's the real issue - don't pay the execs until they produce some sales and profits.
Grief, we can't insist they perform properly - where would it end?

When I was employed, one took pride in doing a job well...and that usually meant better than the lowest acceptable - otherwise your card was marked!

Oh well, maybe this is an EGM worth paying for? - can't execs work without such interruptions....securing a deal or some trial success would be nice -
Skypharma - says it all - pie-pharma more likely - perhaps we should insist on a name-change to reflect the executives likely successes.

Let's guess that there is a deal in the offing and they expect this will move the sp from 25p to 50p - SO What! - where is the 80p?
Now let's say that 80p was the sp for neutral returns ( for may investors)...therefore if the execs can achieve 160p (steady for, say 3 months) then they will have achieved something and "might" be worth a bonus of 10% salary......increased to 20% if the company is generating profits such that the bank-balance is real (ie above any outstanding loans/debts/liabilities) nad there is no cash-call during the next 12 months (with the sp remaining at 1.60-level)...only then would the bonus be paid. Any exec that can't hack it, or is shoved out etc. forfeits their bonuses and must repay any already paid.

Makes me mad these Options, incentive plans etc - have they no shame?
Get on with your work!

[ the bonus is to be paid 100% of salary if the sp reaches 55p - but there is a "initial grant" of up to 300% of salary for the top execs- ouch! - see documents - and DYOR ]

Looks pretty easy to me! A year ago it was 40p - shouldn't investments go up?
They could show some belief in the company by buying shares...say 100k's at 40p - would make the market think. (That's each.... ).

Grr - does any other shareholder feel cheated from the Action?

Companies which their share is not held by banks can rise. Those which are held by banks have to go down.
WHat do you think?

Some big buys today 1.8m and 2m

Nice bit of news sp up 20%

Skyepharma partner completes two Phase III studies for Flutiform in EU programme
AFX


LONDON (Thomson Financial) - SkyePharma Plc, the drug delivery specialist, says its European development partner Mundipharma has recorded positive results and successfully completed two Phase III clinical studies for the European development programme for Flutiform, its development asthma product.

The clinical update is secondary, however, to the company's US filing, which is waiting on the results of key additional safety studies required by the FDA, which should be completed over the summer.

SkyePharma's chief operating officer, Ken Cunningham, said: 'We are delighted that along with the three Phase III pivotal efficacy studies conducted for (US) NDA submission, we now have two further Phase III studies for European regulatory submission that have met their primary endpoints.'

ben.deighton@thomsonreuters.com

bsd

I'd be more delighted if they would sort out their Bond problem - Usually release a statement once a month, due one soon ! Next Tuesday would be nice - especially one carrying good news !

Still holding these nice bit of news today it looks like it won't be long now.

UPDATE 1-SkyePharma shares surge on hopes for bonds deal
AFX


LONDON, Aug 28 (Reuters) - Britain's Skyepharma Plc , a specialist in drug delivery technology, said on Thursday it was close to a deal on renegotiating its convertible bonds, sending the company's shares 20 percent higher.

The company also announced a first-half pretax loss of 6.4 million pounds ($11.76 million) against 14.1 million a year earlier, on sales of 28.4 million versus 19.7 million.

'We are making good progress with proposals for renegotiating the convertible bonds, which we expect to announce shortly,' Chairman Jeremy Scudamore said in a statement.

'Once this is completed, we remain optimistic about the prospects for further growth of the business ahead of the launch of Flutiform, and beyond.'

Flutiform is SkyePharma's most important new product. The asthma treatment has recently produced promising results in clinical trials and the drug is expected to be submitted for regulatory approval next year.

The company said Flutiform was on target to be launched in the United States and Europe in 2010.

SykePharma shares were 19.5 percent higher at 3.8 pence by 0735 GMT.

(Reporting by Ben Hirschler; editing by Rory Channing) ($1=.5440 Pound) Keywords: SKYEPHARMA/RESULTS

tf.TFN-Europe_newsdesk@thomson.com

Maybe good news, I'll believe it when it's done.
It does seem a bit careless to get into this situation in the first place....lacklustre management and maybe products that just don't quite match the hype.

This co has a long-history of non-delivery.

Let's hope the Bond issue is cleaned up.

1/09/2008


SkyePharma bond renegotiation deal seen 'this week'
AFX


LONDON, Sept 1 (Reuters) - Specialist drug delivery company SkyePharma Plc is set to announce a renegotiation of its convertible bonds this week, according to two analysts who cover the sector.

Both analysts, who asked not to be named, spoke to Reuters separately on Monday.

The company repeated on Monday a statement from last week, that a deal would be announced 'shortly'.

The company has a put option for 69 million pounds ($126.3 million) convertible bonds due at the earliest in May 2009, and another put option for 20 million pounds due in June 2010 at the earliest.

Without renegotiation, exercising these options could bankrupt the company.

The renegotiation of the bonds is expected to provide significant support to the share price. The shares were up 5 percent at 4.2 pence at 0849 GMT on Monday.

'The news, when the renegotiation is announced, should help drive the share price, therefore we're buyers. I still think fundamentally on an operational basis the stock is worth 31 pence per share,' Landsbanki analyst Shawn Manning said last week.

(Reporting by Ben Deighton; editing by Sue Thomas) ' ($1=.5461 Pound) Keywords: SKYEPHARMA/BONDS

tf.TFN-Europe_newsdesk@thomsonreuters.com

nolt a stock i have followed even vaguely for a very long time ...... certainly the company has had a pretty torrid time, but the chart below shows an interesting break-out.

Toya is a great follower of pharmas (and perhaps farmers too!), so she may be a better source for reasoned comment

Hi Cynic :) I rather lost faith in this company some time ago. But if they can renegotiate those bonds - and the market looks like it's anticipating that they will - then it might be worth another look.

If not: take heed of the warnings (as in above statement) that it could bankrupt the company

Some thing is better than nothing it would not benefit the bondholders to bankrupt the company I topped up this morning this will recover.

You could certainly make a tidy profit if/when it does Driver!

Toya
Hope so still a loss at the moment average 6.7p

Well good luck then, Driver! I realise I may miss out here but I'm not going to shuffle things around today.

hope u're not too badly burnt driver ..... everyone looks to be diving for the lifeboats now the new terms are out

cynic
Its not really a burning the sp is just calculating the new deal.
You are entitled to 172 shares for every 100 bought at 1.25p if you take up the rights issue.

Well, I'm not worried now, I certainly was before! I don't have vast sums of money riding on this share but I've always felt that, if they could get Flutiform to market then SKP's future would be assured: apart from crossing the t's and dotting the i's as it were, mission accomplished. Rosy future?, yes I believe so. Topped up yesterday at what I think is still a bargain price of 4.37.

i am very thick on these things, but presumably the shares have not yet gone xr, so surely the re-calc should not be done until they do

Well, Well, Well - what a mess these execs have achieved - Bonds that ran out to 2024 (?) are to be re-negotiated at a time when money is tight - did they buy with eyes shut? I hope their (then(), Advisors offered a Fee refund!

All this takes us away from the real issue - that this is a Co that trumpets much and has (so-far), failed to deliver a thing.
I recall several re-financing, so I don't think I'll put any more into this waster. This is yet further Dilution - Grr!
/

The CONsolidation will give me an Op to buy cheaply, once the Execs have fallen out of the limelight.
Er, is there any good news buried inside this package of Gloom? - - - answers on a small stamp, please.

hangon
Yes the company isnt going bankrupt and Flutiform will be worth a fortune when launched.

has this drug passed ALL its trials yet? ...... if not, then your statement is very brave indeed