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Could you provide a link to that information?
The only offer I can see on Renalytix's website is dated 4th March.
The quote below leads me to suspect that it is certainly not from AVO.
"Renalytix has received an unsolicited approach from a large and well-capitalised publicly listed strategic diagnostics company"
If these guys are suspended how come they have an offer of .25 a share on the table for Renalytix as per Stockpedia announcements?
I hope so. But as long as we don't have further details about it, I will not open a bottle 🍾.
Does anyone know what is the status with the petition in UK?
Good Lord - is this the first substantive good news we've had since Jun 23?
ADAM has not been liquidated but has regained its normal status. This means that a financial solution was found at the last moment to avoid bankruptcy and cancellation.
????
Https://shab.ch/#!/search/publications/detail/4c9ae79b-8cc6-45f9-98db-b7c61dc9bbb5
Still nothing today. Seems like Avo may be settling debts when necessary. I'm not sure if this gives me hope or not!
It's not in the Gazette yet and it should be by now. That could mean that the court have not accepted the petition for some reason. Maybe if the debt was small they have settled it.
Winding up petitions:
“ From start to finish of a winding up petition, that is from the issue of the winding up order to the court making a formal order to wind up the company, it can take approximately 8-10 weeks. This however assumes that all of the steps proceed smoothly and for example, the winding up order is not disputed or adjourned.”
I guess AVO are still playing for time
On another board, I referenced Monty Python's Black Knight. All his limbs are lopped off, but he still keeps coming. "It's only a flesh wound, come back, you cowards ..."
For AVO, we've seen employee tribunal rulings, ADAM dissolved, now this Mabey group's winding up order.
Nothing serious, you almost hear them saying, just another month ...
Loan or liquidation. Guess we will know tomorrow!
March 28, 2024Company
Case Number
CR-2024-001904
1. Advanced Oncotherapy Plc Dechert LLP
Petitioner
1. Mabey Hire Ltd Brachers
Thanks I missed the link, I have no idea if Adam can be saved or bought out of liquidation? But I guess the fact that AVO has not gone into administration as of now means there is still hope.
@CuriousInvester6
Follow the link in my post to the shab...
@ac123
This is the central question, not so easy to answer. In my opinion, at least certain key persons with the right technical knowledge and overview of former ADAM would be necessary.
The proximity to CERN with its bunker facilities might be necessary. Whether a complete relocation to Daresbury is feasible would require analysis. However, to make a final judgment, these persons would need to be available.
Establishing a new company, ADAMx, would not be a problem in Switzerland. It could then start anew, debt-free. It wouldn't be the first company to do so.
But was the BoD far-sighted enough in the past, and are they capable of shouldering this?
ADAM I am certain has not been liquidated. Please can you provide proof.
If ADAM ceased to exist I am pretty certain AVO would now be in administration. In the present climate if anyone is involved in significant fundraising deals they are taking an extraordinarily long time to complete, if there was no hope the AVO BoD could get this over the line they would be immediately put into administration.
An RNS which - as someone pointed out below - is pretty much a copy-and-paste of earlier RNS's.
However, the RNS of 02 Jan did state in addition that Swiss subsidiary ADAM had been granted a reprieve from creditors until 20 Mar 24. The Swiss link below (IWant, 10:24) indicates that this time limit is up, and that ADAM has been liquidated.
Is anyone clear on whether AVO actually has a functioning future if it no longer owns ADAM?
Probably Followed by penalties......and as such it's pretty much lottery, win or bust.....
Looks like we are going into extra time!
All over now, baby blue:
https://www.gov.uk/employment-tribunal-decisions?keywords=oncotherapy
And until now, no word from the BoD
Incompetent:
https://shab.ch/#!/search/publications/detail/62c56509-42d5-452d-898c-5a85a16fb927
‘’Are they just incompetent or evil?’’
‘’Well, at the end of the day, it doesn’t really matter’’
Bates vs Post Office
Two days to go. AVO readying the same RNS as in the last two months to express its surprise at another month’s “delay”. Or can they pull an Easter Bunny out of the hat?