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I would suspect that fees owed to advisors, lawyers and others will mainly be made up in new shares issued.
I also believe it’s unlikely the investor is actually trying to run down the clock, if it is an existing investor this is a pretty small group of key investors who will know the IP and tech is worthless without key management and executives executing on the delivery.
That said big Creditors as some point could loose patience, the fact they have not yet would indicate there is still hope.
@Iwant,
That would not surprise me. The UK staff, now into their 10th month of not being paid but the BoD still can find money to pay high end lawyers and offices that house nothing of value to the organisation.
ADAM recently moved to a building not far from the previous one in Meyrin. Even if the expenses are lower, they have to be paid. The 50kCHF will certainly be needed to rent the premises etc
and thus for the survival of ADAM.
This supposed “investor” is just trolling the company. “Unexpected delay?”. Oh sure, right, that’d be the *planned delay* until AVO finally throws in the towel and the investor buys it out of administration. Nine months now, this search for new funds has been going on. Doesn’t the company’s spidey senses tell it something doesn’t feel quite right?
We did or still do have major share holder in Geneva Mr. Philippe Glatz's
Latest RNS moving in the right direction as well as the significant costs all parties would have expensed todate the potential investor has also just paid:
“The Investor has made a CHF50,000 (equivalent to c. £45,000) advance payment on the Proposed Financing Transaction which has been put towards the Company's general working capital requirements.”
Interesting this is Swiss Francs and I wonder if this gives an indication as to the investor and their domicile?
An initial £15m expected this month from the same investor on receipt would then indicate the transaction has been concluded.
It is a long waiting game but at least discussions are continuing and limited support from the potential investor while all the paper work is completed is a little more encouraging.
They are keeping going to the tune of Staying Alive
Yes but not out of intensive care.....critical but hopes are there ,just.
Still breathing
The Company is hopeful of receiving an initial tranche of funding from the Investor during January 2024, although there can be no guarantee that this funding will be received nor the timing thereof.
The above from 9.1. RNS, says it all.
Will today bring any news?
We are not dealing with children an encouragement has been amply provided. The real question is: where did the money go, focus on the responsibilities of the directors and ignore the company sponsored illusion maintained here that ‘something is happening’, the main purpose of which seems to be the production of fatigue, oblivion and that we just forget about it, when the final curtain goes down.
Well, I have said goodbye to my £4.5k investment. Hope there is a rabbit coming out of the hat but....
One more day to go
One more day of sorrow
One more day in this sad share
and good news comes tomorrow
”The major shareholders are working hard ” curious to hear what evidence is behind this. There is no public record of any proposal that the major institutional investors have to work with at all?
Https://www.youtube.com/watch?v=d9tfCQP6V1s
The major shareholders are working hard to not only save their money but to cross the line with ground breaking technology which will save millions of lives. Bankruptcy- nothing. Deal done- bright future
This auto spell check should be banned....did you mean..... We are in a bad situation? Better laugh than cry!
Heya Mil. That a helpful reply. Thanks for sharing your enthusiasm!! LTV’s know this is a risk that may have gone terribly wrong but you have to stay optimistic. Do you have children and if so do you share on their enthusiasm like to do on here ? If so I don’t think they will be very successful!!
Where have I heard that before !!
I've no idea but I'll make a sort of guess. Given the potential value of LIGHT and the massive amounts the leading shareholders and some of the Bod have invested in AVO, my guess is that they'll probably try to get the highest price/best deal they can get. That might include getting some of the bidders shares . We should get the same sp as them and It might even mean we get some of the bidders' shares .
If the bid attracts other bidders then we might even see a bidding war. That could be good news for us.
We should know something before long .
If there is a takeover, would anyone have any clue as to what shareholders would get per share given the share price? I've never been in this situation before so would be interested to hear any thoughts.
I believe that an RNS is only required if a formal bid is made or accepted. Negotiations about a bid may not require an RNS. I believe that the disclosure rules rules exempt the names of bidders from being disclosed when negotiations are taking place. The disclosure rules can be looked up by anyone who feels the need to find out.
The following is how the disclosure panel has always reported AVO's situation ever since last April:
"OFFEREE: Advanced Oncotherapy plc
Offer period commenced: 07:00 18-Apr-2023
25p ordinary
ISIN: GB00BD6SX109 NSI: 542,573,869
Senior secured fixed rate convertible loan notes 11 January 2024
NSI: 6,379,725
OFFEROR: No named offeror"
The entry is still the same today
If a bid had actually been made then an RNS would have been issued, so I suspect this is just the Takeover Panel trying to properly represent the situation AVO is in, rather than anything concrete. Not sure how the Panel has reported the situation before now.
HL are currently pricing my shares at 1.93p a share.