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My post from last evening has been removed regarding the just over 4 year S.P. of this company.I wonder who took exception to it.? I certainly lost some money on this share but got out a few months back and certainly still feel sour. A few may have made a few pence on small spikes but it was a lousy investment, 82p to 6 with a post RNS rally for???
Plenty of RNS's today
Considering the IPO was around 80p and the various fund raises - 25m at 33p and so on, this has been an absolute car crash for investors. Particularly PIs. There ought to be an investigation into this type of thing - particularly the actions of the directors. There won't be though.
Correct me if I'm wrong. But I thought in a takeover/ buy out situation, they are obliged to pay the highest price the sp has been in the last 12 months.
From the 1st RNS -
167 per cent. to the Closing Price per Abzena Share of 6.0 pence on 15 August 2018 (being the latest practicable date before the date of this Announcement);
o 36 per cent. to the average Closing Price per Abzena Share of 11.8 pence in the three months to 15 August 2018 (being the latest practicable date before the date of this Announcement).
From the 2nd RNS -
confirms that following the announcement today of a recommended cash offer for the Company, it has terminated discussions to sell an interest in its entitlements to future royalties which may arise from certain ABZENA Inside products.
2 to 1 buys vs sells
even after the big dumps at the end of the day, so the buyers have it
This is a good company with an exciting future - unfortunately ordinary shareholders won’t be able to benefit. The sale is because their major shareholders aren’t able to continue funding the future - I thought Woodford was a major shareholder and this might explain why the sale has been agreed.
16 to 1 - buys vs sells, if that is accurate
They have terminated discussions to sell their interest in the royalties for Inside Products....
So directors will continue to get the royalties once everything is done and dusted...
Nice to see MM screw this down to yearly lows prior to the announcement. And they say AIM isn't corrupt lol
.
What a bizarre RNS?, it has no effect on FARN!
Soley, no change really for Farn - The new set up will still provide the platform for Farns Clevegen Drugs was agreed a couple of weeks back IMO.
Any idea what’s happening here Between this and FARN?
What's the relationship between Faron and ABZA please? Vgla
I think my decision to sell out (at a loss) at 34p is well and truly vindicated now. I'm sorely tempted to buy back in, but need to know more about the funding proposals.
When you think about it, it's actually a little concerning that they've eaten through the £25m raised in the relatively recent 'accelerated book build'. Then there was a contract cancellation with little explanation, as far I could tell. What's needed now is an outline of a clear strategy going forward. I would expect 'Hardman Research' to release a note pretty shortly doing just that. In the mean time invested and other interested parties will simply have to watch and wait.
Thanks for that. Appreciated. PV
I would wait for the ship to steady personally. Better catch it on the way back up, than as it continues down. As ever, DYOR. GLA
I doubt many are laughing with you.
Laugh , 82% down in 11 months
Is now a good entry point? Or further to fall in other opinions?
Said Knowbody. Ever. Fair play and well signposted here for peeps. Might have a peek myself when the dust has settled and IF I could get a discount to the placing price. Not a very happy SP history though.
Here's the placement / fund raise that I suspected was on its way, after the last RNS. Simply astounding how much value this share has lost in the last year or so. The IIs that have supported this company (stock is mostly held by institutions) must be giving their heads a good wobble this morning.