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Well all that has happened is the cash burn has gone up with two more non exec appointments to feed whilst we now sit and wait for a new CEO, no doubt Suzy becomes some science director still on the dam board when that event happens and probably retaining her current package - joke.
By withdrawing the Requisition Notice then i take it Smug Kevin is remaining as chairman on the board along with Martin and CFO Gerry. What was the point? We now have two more NEDS to feed on top of the two yes NEDS that Suzy proposed! You couldn't make it up. FOUR of them now to pay!!!
Frankly out of the three proposed newbies it was ONLY Benjamin Snipe that i wanted as he has vast Patent Experience and could have been useful.
Well done Kevin and Martin being able to save their ass , well done Gerry for escaping this entire event and well done Suzy you can milk it for longer now as CEO and then continue on the board with your benefits. Nice work.
Not impressed that the Requisition has been removed saving TWO that need to go just to give this Adrian guy a position on the BOD as a NED.
Stock remains Uninvestable and it will be interesting to see if they will be able to secure investor support for the placing from H2.
The best news for very long time. Confidence will back again with better Ceo.
Suzy must leave Valrix completely. I don’t trust her for anything.
Well worded RNS this morning. Suzy’s role as a scientist is absolutely appropriate - it’s what she’s best and good at and should not be diluted by the role of CEO
Thanks for your efforts, Suzy. I'm sure you gave it your best. Hopefully you'll be around to see some of your work bear fruit in time
What an amazing time for a pump and dump operation.😄
Agree the company would have been busted without Suzy and Kevin but they made a mess of it with 201 and therefore the share price. Hopefully they can seal the deal with 201 shortly. That will really move the share price big now.
She did! she removed the previous CEO & kept Co going!
Which it would not have lasted 6 months had she not! imo
Kevin has stayed to see it through and I suspect Suzy will step down on a high.
She had no choice because otherwise shareholders wanted Kevin gone and then gone after Suzy as well. A combination of experience of shareholders and experience board members is positive.
They have cash until Q2 2025 and with revenue coming in that should be extended. I think 201 will complete so a good cash runway.
Suzy must have been aware for a considerable period of time that Theoremx was unlikely to proceed & she stubbornly persisted & if she & the Board recognise now that a new CEO is needed to take us forward they will have known that for a couple of years.Our Chairman is weak which is also why Gerry & other "senior" personnel have remained in position.I would have thought that prospective large investors are more likely to support the next heavily discounted raise than buy in market-unless our cash runway can be lengthened substantially by an unexpected Corporate Transaction - & , realistically, if there was any chance of funds inflowing from Euda/Tx,Suzy would not have "stepped aside " right now.
Good luck all - we need it !
One step off winding up the company.
Watch this space.
Key questions for me are:
1. Does Suzy retain her share options? If so, do we risk a massive dilution if a new CEO needs more options for incentivisation?
2. Does this mean the 201 deal is dead? Seems like an odd time to give up if this completing is truly around the corner.
A good RNS. Whilst clearly Suzy is a good scientist the ability to combine that skill set with running a company was a step too far. We have to recognise that Suzy took over at a difficult time for the company and she clearly tried her best but was not prepared for the new role. I hope she will continue to be a valued member of the company when she takes up her new position.
Finally a well constructed RNS with some positive news.
Hopefully Suzy will be able to shine as CSO or similar role.
No one doubts her ability as an amazing scientist.
The future is looking a bit rosier this morning....
Personally I would like to thank Suzy for her time as CEO. The company is close to generating revenue and has some exciting compounds in the pipeline. Timing is everything and if TRX had delivered on it's promise in 2020 then Suzy would have been lauded as the best CEO in AIM.. Hope you stay in a different role and we can all enjoy success in the near future..
At last, but it maybe too little too late. I do hope that I'm wrong and this company does survive, but does need someone who understands how and what tough negotiation means and how to achieve direction in the right areas. At least it gives one hope now.
If she remains within the company that will save severance pay etc. She deserves nothing like that. Perhaps a role cleaning test tubes and running the annual Grand National office sweepstake would keep her occupied.
huge positive to be moving towards a new ceo that has the experience to drive the company forward. great opportunity as it’s sat on its **** just now. will be plenty money waiting to come in on the correct appointment.
i would expect the changeover to be fairly swift and if the company can get across the massive positive that they have a substantial cash runway it makes this a really good investment.
best of luck all that have held on
It is a positive step Wayne, it’s just that good news doesn’t suit a few people on here.
14£k buy says it’s positive
So would I. Her statement shows no insight into her limitations in this role.
I think 🤔 it’s a positive
Don’t know the cash situation but Suzy knows this has potential and needs some one who knows how to progress and it will
Still not an incentive to buy shares here. The crew are now engaged in rearranging the deck chairs on the Titanic while they discuss who they want to be Captain, assuming they can find a volunteer on what will have to be a pretty low salary. I'll guess some fanfare appointment in a couple of months to support a(nother) raise.
Just more uncertainty while they search for another CEO. By their own admission, that could take months. Is there any danger that this crock will actually ever get some revenue rather than fart around with congratulating each other?
Up or down
Reading her statement anyone would think she'd actually achieved something! A complete disaster and I'll be glad to see to see her gone.