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Biotech / Medical : Small Cap Foreign Biotech -- Ignore unavailable to you. Want to Upgrade?

To: A.J. Mullen who wrote (48)	3/2/2000 6:28:00 AM
From: nigel bates	Read Replies (1) \| Respond to of 363

AJ, It seems that the fund is in the process of being acquired by 3i (a UK fund management group). They will effectively be offering a 1 for 1 share swap in a London listed investment trust which they will manage. The assets will largely be transferred into this, although there is an option for shareholders to cash in shares up to a value of $65m, by way of a tender auction (sounds complicated). With the new fund to be registered in the UK, there should be improved transparency - at the moment I can't even get a phone number. The new fund is to be called 3i Bioscience Investment Trust. nig nb the portfolio I have posted is not up to date, as I pointed out. However, the previous management do not seem to have been particularly active in trading in the listed stocks.