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14 Aug 2009, 11:21 am / Other
(source Shac)
Three bits of good news, lets keep the pressure up!
i) New largest investor, Morgan Stanley dumps all their LSR/HLS shares
ii) LSR/HLS financial update
iii) HLS customer vows not to use them again
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i) NEW LARGEST INVESTOR MORGAN STANLEY DUMPS ALL LSR/HLS SHARES
And after a few days of peaceful demos, activists get a result - nearly 700,000
shares sold!
Activists from Win Animal Rights launched a campaign to influence the new #1
Huntingdon Life Sciences Investor, Morgan Stanley, (who recently bought LSR
stock) to divest their large holding of LSR shares. With 679,225 shares of LSR
stock, Morgan Stanley was a 5% owner of Huntingdon Life Sciences. Also, many
emails were sent to Morgan Stanley asking them not to deal with HLS (LSR).
On the afternoon of August 1st, activists visited the homes of 5 senior
executives of Morgan Stanley including the two co-presidents of the firm.
On Thursday, August 6th, activists from Win Animal Rights continued their
campaign to influence Morgan Stanley, activists visited the headquarters of
Morgan Stanley at 1585 Broadway in New York City. This was followed by visits
to the homes of multiple senior executives of Morgan Stanley.
On Friday, August 7th and Monday, August 10th, several hundred thousands of LSR
shares were dumped, resulting in a downward slide of the share price. On
Wednesday, August 12th. Morgan Stanley notified the SEC of their divestiture.
Thank you for making the right choice Morgan Stanley!
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ii) LSR/HLS FINANCIAL UPDATE
It's official - campaigning has a large effect on LSR/HLS
Much has been happening on the financial front as LSR/Huntingdon Life Sciences
CEO, Andrew Baker, moves forward with his plans to acquire HLS and make it a
privately held company. A Proxy Statement has been filed with the SEC
(Securities Exchange Commission). You can read the 132 page document by
clicking on "Proxy Statement" here:
http://moneycentral.msn.com/investor/sec/filing.asp?Symbol=LSR
A good analysis of the pending merger and proxy statement is provided by a New
York Times financial blogger, here:
http://dealbook.blogs.nytimes.com/2009/08/12/behind-the-deal-life-sciences/
The Proxy Statement makes it abundantly clear that animal rights campaigning
has had a tremendous impact on LSR/HLS' financial predicament and has caused
them to have limited options for the future. An in depth analysis was
contracted by a special committee appointed by the Board of Directors and
carried out by Plymouth Partners LLC. The Plymouth report cited the influence
of animal rights campaigners over and over again, in relationship to investors,
market makers, trading platforms, customers and suppliers.
Also of note in the Plymouth report was the fact that LSR/HLS was in imminent
danger of defaulting on their long term debt and additionally that they were in
imminent danger of being delisted by the NYSE Arca for failure to maintain the
minimum levels of capitalization for continued listing. All in all, the report
gave a very grim picture of LSR's financial position. A more detailed analysis
and publication of selected excerpts from the reports will be forthcoming in
the near future.
Meanwhile, SHAC, Win Animal Rights and other animal rights groups will be
moving ahead with plans to focus on HLS' primary customers. (see listings here:
http://www.shac.net/action/customers/clients.html). It's only because of
campaigners across the world who have in any way supported the campaign to stop
the killing at Huntingdon Life Sciences. Every action, every protest, every
letter and every phone call contributed to the results that are now clearly
exposed by these recent SEC filings.
It is time to put this dying monster of a company out of it's (and our) misery.
Let's get to it and make it happen for the animals being tortured inside HLS.
iii) HLS CUSTOMER VOWS NOT TO USE THEM AGAIN
Biopharmaceutical company Arpida Ltd makes a statement
"Please note that Arpida AG has stopped working with Huntingdon Life Sciences
already years ago and there are no on-going contracts with HLS anymore since a
long time. Also, there is no interest to enter into new contracts of any type
– be it with HLS or with any other animal testing facility - for the
following reason: Arpida AG has suffered a major setback as its lead drug –
an anti-infective for MRSA – has not been approved by regulatory authorities
earlier this year and is unable to afford further development work. As a
result, Arpida AG has drastically reduced its operations, has dismissed the
majority of its staff (see attached press release) and ceased any research and
development work.
Please also refer to our website www.arpida.com for further information on
Arpida's action taken recently..."
Best regards - Harry Welten, MBA
Chief Financial Officer for ARPIDA Ltd.
SHAC thanks Arpida Ltd for making this statement and we wonder why Novartis
haven't managed to contact SHAC over their alleged reports that they too no
longer use HLS?
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Disclaimer and Information:
The details in this action alert are provided for information purposes only,
and should not be used for any illegal activities as defined by the
jurisdiction you live in. SHAC does not support or encourage any form of
harassment; nothing in this alert has the purpose of inciting such behaviour,
and we request that all communications are kept polite.
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