Extract from Times article :

http://www.timesonline.co.uk/newspaper/0,,2706-2217603,00.html

................OASIS IS COURTED

Shares in Oasis Healthcare leapt 40 per cent to 24p after the dentist chain said it had received several approaches to buy the company.

Oasis declined to comment further, but City sources said that venture capital firms, including Legal & General Ventures, 3i and HgCapital, were understood to be lining up bids at 30p to 34p a share in what is likely to be a hotly contested auction.............

Web Site : http://www.oasisdentalcare.co.uk/

Email News Alert : http://www.oasisdentalcare.co.uk/investors/email/

About Oasis Healthcare

Oasis Dental Care Ltd, is the UKs leading operator of dental practices in the UK, with over 120 practices throughout England and Wales. A wholly-owned subsidiary of Oasis Healthcare Plc, Oasis aims to become the national dentist of choice for patients, staff and associates, providing a recognised and consistent service.

History of the business

Oasis has acquired well-established, profitable dental practices with potential for expansion which satisfy specific criteria in terms of size, operating performance and clinical capability. Through investment in new surgeries, practice refurbishment and marketing, supported by the introduction of specialist services, such as Orthodontics and Implants, and increased focus on customer service and higher quality private treatment, the Company expects to achieve significant growth in practice turnover and profitability.

Oasis has undertaken a period of rapid growth since it was established in 1996. The key milestones have been:

1999 Oasis made up of four practices
2000 Growth to 12 practices and listed on AIM
2001 Acquisition of a further 23 practices
2002 Growth to 65 practices
2002 Acquisition of Ora Dental Group Ltd with a further 10 practices
2003 Acquisition of Dencare Management Group Ltd with a further 36 practices
Today Total estate of over 120 practices

The Oasis vision

Our vision is to be the national dentist of choice for patients, staff and dentists, providing a recognised and consistent service.
We aim to harness the capability of over 120 practices whilst recognising that dentistry is a local business which must respond to local needs. Our cluster model provides the balance required for our network of over 500 dentists and 1300 staff.
To meet our strategic vision we have therefore moved away from an overtly centralised business model to one structured into 21 geographically-based clusters of up to 10 practices.

The cluster model

Each cluster is run by a full-time cluster operations manager and a part-time cluster clinical director. This balanced management team - who are fully profit & loss accountable with the authority to make the majority of day-to-day capital expenditure decisions - ensure the application of local knowledge. This structure also ensures that staff and associates work in a culture of belonging to a wider Oasis community. This has a number of benefits:
optimisation of internal referrals
focus on local recruitment activity
sharing of resources, experience and best practise

Acting as a corporate body

Alongside the cluster teams we have five regional dental directors as well as the central clinical Board, formed of a majority of senior dentists. This team is charged with the construction and maintenance of our clinical governance framework, and to determine clinical support for the services we provide.
Our commercial team meanwhile focuses on optimising the commercial gains from our size and scope, including optimising supplier deals and implementing new products and services across the estate.

The future

In the short term Oasis will focus on the continued implementation of localised clustering and optimisation of profit from the existing estate. In the longer term we anticipate embarking on a structured acquisition strategy. We are confident that our vision and strategy will allow a success to be made from the corporate dentistry model.

Major Shareholders

Advent VCT--------------------7,508,113 (9.20%)
BLS Holdings Ltd Prtnship----6,749,964 (8.27%)
Singer & Friedlander IM Ltd--6,590,000 (8.07%)
Joseph Joe King--------------3,347,500 (4.10%) DIR
Goldman Sachs Group Inc-------2,855,500 (3.50%)
BWD AIM VCT PLC--------------2,542,500 (3.11%)

Here is the latest (June 06) update from http://www.armshare.com

The company broker's note dated 31st May 06 projects fully taxed adjusted EPS of 3.3p for 2006/7, 4.1p for 2007/8 and 4.9p for 2008/9 representing P/Es of 4.5, 3.6 and 3.0 respectively based on the share price of 14.75p at 31st May.

"
The final results to March 2006 showed sales of 82.5 million (2005: 74.9 million), operating profit of 2.4 million (2005: (384,000)), pre-tax loss of 366,000 (2005: (2.9 million)) and adjusted EPS of 3.36p (1005: 1.78p). The company reported that the growth was achieved from 122 practices (2005: 125); practice EBITDA was 10.9 million (2005: 9.1 million) representing 13.2% of sales (2005: 12.1%) - there are a number of practices, particularly within Greater London, which are achieving under 10% (compared with the target of 15%) and for which strategies are being formulated to deliver improved performance over the current financial year; capex was 4.2 million, of which 1.2 million related to 8 new Welsh practices and 2.9 million was on modernising 36 surgeries; debt was reduced to 37.0 million (2005: 39.5 million); working with Kodak, a new clinical IT system is being developed which will, for example, enable the viewing of patient records by both the referring dentist and the relevant specialist, irrespective of geography.

Research Standing

We said " With the heady days of expansion over, at least for the moment, its going to be a long course of treatment, as exertion of buying muscle and the drive for private patients opens a long road towards the necessary levels of returns. It hasn't been pain free yet, but when the current cavity is filled it may well be time for the healing process to begin."

The company broker's note dated 31st May projects fully taxed adjusted EPS of 3.3p for 2006/7, 4.1p for 2007/8 and 4.9p for 2008/9 representing P/Es of 4.5, 3.6 and 3.0 respectively based on the share price of 14.75p at 31st May.

COMPANY MEETING

ArmShare met the current CEO on 1st December 2005. Oasis has followed the well trodden buy and build strategy, and reached the stage where conventional business skills needed to be applied if the organisation was to deliver shareholder value. In 2004, the CEO who implemented the initial strategy left and his replacement (who joined in August 2004) brought in-depth experience of running retail multi-site operations. This lead to the implementation of the cluster infrastructure referred to above - the early signs are that this is producing a virtuous circle of being more attractive to dentists, providing a better service to clients, organic sales growth and better margins - these early signs were endorsed by the final results to March 2006. Continuation of the virtuous circle will make it quite straightforward for the company to handle what presently looks like excessive borrowings totalling 37 million at March 2006 (2005: 39.5 million). "


__________________________________________________________________

Recent Institution and Director Buying ;

19th Sept 2005 S Lambert buy 1.0 million @ 10.5p
19th Sept 2005 G Blomfield Buy 500,000 @ 10.5p
29th April 2005 Goldman Sachs Buy 2.855 million.
14th Dec 2005 Stephen Lambert Buy 100,000 @ 12p
3rd Dec 2005 Stephen Lambert Buy 165,000 @ 10.5p
3rd Aug 2004 Stephen Lambert Buy 35,000 @ 16.2p
_______________________________________________________________

Links :

Wales Feb 2006 Link

L2 3 v 1 @14/16.5

Up again, looks like more people like the results after digesting them :)

To go with this "The company broker's note dated 31st May projects fully taxed adjusted EPS of 3.3p for 2006/7, 4.1p for 2007/8 and 4.9p for 2008/9 representing P/Es of 4.5, 3.6 and 3.0 respectively based on the share price of 14.75p at 31st May." one should also not forget that IFRS reporting comes into effect for Oasis now, and that makes a very big difference to books, in terms of Goodwill etc...

With the kind of growth forecast, with the kind of earnings and cash being generated, and now with IFRS accounting which will make the books much more healthy, should Oasis be on such low earnings multiples ??? I think not

Up again, L2 is 2 v 1 @15/17

Up again and going well :)

Latest Broker Fct/Rec :

Oriel 31st May 2006 BUY

2006/7 PTP = 3.9m
2006/7 EPS = 3.3p
2006/7 DIV =

2007/8 PTP = 4.8m
2007/8 EPS = 4.1p
2007/8 DIV = 0.3p (return to paying dividends)

Moving up some more. Does seem to be a shortage of free stock around, DYOR !!

L2 1 v 1 @16/17.5

Someone definitely buying lots of OSH up and wanting more....... :) Up she goes....again.

Up on the bid now, after earlier up on the offer.

They do seem very short of stock on OSH.......... :)

6.7 million and 1.7 million X trades on OSH @ 20p after close, both since deleted, but still showing at the moment on AFN trades page under "DEL" deleted heading.

If we have a large buyer accumulating it will explain the shortage of stock and difficuly in buying with the price being pushed upwards on small buys.

The 6.766 million X trade may be someone buying out the complete holdings of BLS Holdings Ltd, and the other X trade of 1.7 million I do not know.

What it does mean is someone has purchased 10% of the company at 20p per share.....we all know that going forward given progress to date and coming, now is the time to takeover Oasis before the recovery really kicks in, so perhaps someone is getting ready to make an approach now, rather than have to pay a hell of a lot more money next year or the year after even more again.

May not be what I am thinking, but I would class at the present price and with present prospects Oasis as being a potential takeover target.

Those 2 big X trades on OSH (showed as X then deleted yesterday) are now back today as L trades..... :) Late reported...LOL. Trying to hide the fact they are X trades and also above the offer price......pointing to...well....things going on :)

WHAT HAVE I BEEN SAYING !!

Oasis Healthcare PLC
08 June 2006

Oasis Healthcare Plc
Comment re share trades

The Board of Oasis Healthcare Plc notes the trading of more than 10 per cent. of its issued capital this morning. The Board advises that it has received
preliminary expressions of interest to acquire all the share capital of the
company. It is evaluating the position with its advisers, Oriel Securities
Limited, and will make a further announcement in due course. There can be no
certainty that any offer will be forthcoming.


8 June 2006
Enquiries:
Oriel Securities 020 7710 7600
Andrew Edwards
David Arch

I reckon it should not be less than 40p a share, if its less than that then its not worth it......thats my thoughts :)

Giving it a good shake, I really am surprised that people sell so easily.......

PP, good call on OSH a rare bit of blue today!

If you look at the chart, there are a lot of people holding from 40p levels, and a lot of free float out there. Surely will have to pay a handsome price to gain control I think :)

Love a bidding war......and some people with deep pockets mentioned there :) 40p at the end ? I hope so.....its worth more than 34p ;)


Extract from Times article :

http://www.timesonline.co.uk/newspaper/0,,2706-2217603,00.html

................OASIS IS COURTED

Shares in Oasis Healthcare leapt 40 per cent to 24p after the dentist chain said it had received several approaches to buy the company.

Oasis declined to comment further, but City sources said that venture capital firms, including Legal & General Ventures, 3i and HgCapital, were understood to be lining up bids at 30p to 34p a share in what is likely to be a hotly contested auction.............

I still reckon a chance of 40p or more.........if they start offering at 30 to 34 and a bidding war and auction starts....could well meet my preferred target :)

Easy money buying now with a bidding war coming :) I think so .. ;)