Anyone here holding shares in Celsis? I bought in on a tip sheet recommendation a couple of months ago and it's been a bit lacking.

Was wondering if anyone knew of any reason for the recent sharp fall in price? Nothing on the RNS.

Doug

To my knowledge there is no change in fundamentals.They do,however,report in dollars so the share price seems to be a reflection of the falling exchange rate.

Interesting. However, the dollar has been rallying back against the pound recently so the move should have been the other way.

http://moneyam.uk-wire.com/cgi-bin/articles/200404261650400156y.html

another aggrement for celsis.

sneaky of them to do it at the end of day.

should be blue tomorrow.

A brilliant set of interims. This stock deserves more recognition, imho.

The sp has been about as active as this bb - until yesterday.

DON'T ACCEPT THE OFFER!

Wait for a better one, see below:

From the F.T on Friday, David Schwartz column:

Last Monday brought news that Celsis, one of my recent trades, was the target of a surprise takeover offer. Ordinarily, announcements of this nature are pleasing. But the Celsis offer brought little joy. The acquirer offered 232.5p per share, a disappointing premium over the previous days closing price

I do not understand why the Celsis board accepted this weak offer. Celsis is a steady profitmaker. Company-sponsored research by Edison suggests its fair value is almost one third above the offer price. Celsis pays no dividend although it can afford to do so. I suspect that a commitment to pay a reasonable dividend could have boosted its share price to a level very close to the offer price, assuming management wished to remain independent.

Another point to consider is that the world economy is at the bottom of a downturn and an expansionary phase approaches. Market statistics suggest a bull market is underway. In this kind of environment, an independent Celsis will probably be worth more in the near future without a takeover premium.

My conclusion is that the acquisition price is too low. I wonder why a major financial institution such as Gartmore accepted such a poor offer so quickly. I contacted Gartmore but no one was available to explain its decision.

The deal is now quite advanced with 38 per cent of the shares already committed. Even so, I am hopeful that uncommitted institutional investors with clout will do the job that the Celsis board should have done and demand a higher price.