The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Yes agreed - I heard that Feb 8th was the magic day...but as per a previous post we are due quite a lot of news not the least of which is the price STT have sold their remaining shares to MidWestern...I still kinda think that may have happened at 45p?
hi qf. don't worry - we've already done that bit in the Irish Times and the FT. that advertising was bookended by the two court appearances. the latter and final one was on 8 Feb and any objectors had to file with supporting affidavits by 6 Feb. that clearly did not happen hence CRO filing last week. think bluerill's last post is close to the mark on what's happening now. so hope news now this week.
Quel i'm sure that period has finished---SLE put the add in the FT a week or two back-it raised no new creditors, and the capital reorganisation was approved in the Irish Court on the 8th feb.
"Upon court approval, the Company must then advertise to provide an opportunity for any creditors to object to the capital reorganisation."
Anyone know how long this period is (typically)?
QF
Yes, Alaric, nice to see.
13342515 1 B15 COURT ORDER REDUCING CAPITAL RECEIVED 12/02/2019
if you go on the CRO website (Irish equivalent of Companies House here) and search SLE you will see they filed the court order for the capital reduction on Tuesday. as ever the regulatory cogs turn slower than we want but turning at least they are.
30.4 v 30.5
120k v 112k
PC01, don't forget the drilling of new well, OSMU-1, which started soon after 10th December and was going take 60 days, so nearing completion or already finished.
Agreed, tho I am happier to be sleeping with it sitting at 30p and no volatility then watching those gut wrenching drops to 20p as all that nonsense was spouted...i think we have quite a lot of news awaiting us...not only the start of the share buy back, but also are we not due a further $18mm on Jan 1st? Prospective Eroton dividend as well...I'd be surprised if it all came out in one RNS...
this share isn't the most exciting at the moment...zzzzz
'..issue an rns.. '
also had any creditor objectors filed at court before the 6th Feb deadline and the court had somehow qualified or conditioned our order, then San Leon would have been bound to issue an end to that effect straightaway. we haven't seen one - this SBB will be happening very soon now.
Getting a bit twitchy for some reason ... perhaps because a return oi finally seems close...
Patience, mate. The company only just cleared its final court appearance on Friday. I'm sure there are still some technical matters to resolve with various parties (broker, NOMAD, regulator, etc) on how the company will operate in the market on a daily basis, whether the shares will be held in treasury or cancelled, how block share trades might be handled, etc., before SLE is ready to put out comprehensive RNS covering a return of capital. Shouldn't be much longer to wait (this week?) to work through this final paperwork.
?
A few big apparent buys one with delayed reporting ... big bets or has the SBB already started
well today's hearing in Dublin is a formality to sign off the share capital reductions and allow the sbb to commence. so that obviously means we now only have hours left to buy ahead of this news being formally announced. GLA.
Yes qf, huge volume yesterday.....2.5m traded.
It amazes me so many shares can be traded with so little movement ( I know there must have been some sells as well as buys)
People loading up before the SBB?
Let's see what today brings :)
Much bigger vol than usual today and no comment! All going to plan I suppose ...
QF
Much bigger vol than usual today and no comment! All going to plan I suppose ...
QF
".so SBB starts Friday and we said 45p end of March...sound about right?"
No idea, there's obviously a number of factors. I suggest nobody give up their shares until we reach a £1 (which as I said suits my situation but won't make everybody happy).
Fondly is a strong word...not sure what Alaric will do if he can't vent anymore...still he might console himself with the thought of all that ££ washing around his pockets...so SBB starts Friday and we said 45p end of March...sound about right?
If it reaches a quid then I'll definitely be laughing. The long wait will have been worthwhile. I'll even look back on Sid and frus fondly, well maybe not.
Yes onwards and upwards for this unloved share... is there anything not in its favour currently?
SB
Talk to me when it breaks a quid.