London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
A further -15% down today will not be allowed to stay in ISA , if you do not sell.
AIM shares just not worth risking money on .
Wednesday 27th Mar 2024
This from before the Easter break ,
C4X Discovery seeks AIM delisting but half-year revenue skyrockets
(Alliance News) - C4X Discovery Holdings PLC shares plunged on Wednesday after it said it plans to delist from AIM in London, due to "the recent downturn in the financial markets" hampering its valuation.
C4X shares dropped 24% to 10.00 pence on late on Wednesday morning in London.
The Manchester, England-based drug discovery company will seek shareholder approval to delist from AIM at a general meeting on April 5. It expects the cancellation to take effect on the morning of April 26.
Following the delisting, C4X intends to re-register as a private limited company.
Chief Executive Officer Clive Dix said the decision follows "an extensive review and deliberation to ascertain the most effective way to maximise shareholder value in the longer term and increase the potential for [our] long-term success".
He added that "the recent downturn in the financial markets has adversely impacted our share price, and with it, our future ability to raise funds in the public markets...we can potentially access a larger quantum of future funding required to accelerate our strategy as a private company".
Also on Wednesday, C4X released its results for the six months to January 31.
The company swung to a GBP17.8 million pretax profit, following its GBP5.2 million loss in the first half of financial 2023.
Revenue, meanwhile, soared to GBP24.6 million from GBP1.7 million.
C4X said this reflected receipt of GBP15.9 million from selling the rights to its Orexin-1 receptor antagonist to Indivior PLC in August, and a USD11 million or GBP8.7 million milestone payment from AstraZeneca PLC. The latter, received in early January, stemmed from preclinical progress of C4X's NRF2 Activator programme which it licensed out to AstraZeneca in November.
Research & Development expenses remained stable at GBP5.2 million, "reflecting focused investment in key drug discovery programmes focused on immune-inflammatory diseases."
Looking ahead, C4X believes it is "in a strong financial position with the potential for further milestone payments over the next 18 months".
It said that once it officially becomes a private company, it will be able to "accelerate our strategy and...maximise revenue from our portfolio", assuming it can access those larger pools of potential funding.
An excellent article
The sad fact is that Nomads are letting the market down-most have conflicts and populated with poor accountants who really don’t understand businesses.Some of the rubbish that has been brought to the market by the likes of Finncap is shocking, all fee driven of course
In short, good companies like this are being tainted by dross and the FCA should really be taking a look at how AIM functions
Reminds me of silence therapeutics.with one of the same major investors involved
2 more to delist today , molecular E down 80 % !
Can't see the sense as company will have to flog their shares at a much lower price in the private market than if they were listed, or am I missing something? Or are the directors just greedy bxxtards as they will pick up the shares and company on the cheap 😤
Https://investingstrategy.co.uk/financial-news/is-the-small-cap-market-broken/
Agreed. By mentioning the delisting strategy the board have given the shares a death sentence. Any institutional investors left will be forced to sell over the next 12 months. There will be a lot of undervalued shares on offer which investors should snap up and vote in a new board. The fact that the share price has remained stubbornly undervalued is a reflection of them not the technology. This strategy might suit the directors so they can avoid the scrutiny of the city but I fail to see how it benefits shareholders.
Paul
Brilliant....do you also give advice before the event or just after ?
The bid price is now 10.05p - a poor decision to sell if ever I saw one. It was obvious there would be a knee jerk reaction immediately.
Apologies re a slightly mixed up statement in £'s.
These are more exact.
· Revenue was £24.6 million (January 2023: £1.7m) reflecting receipt of £15.9 million from sale of Orexin-1 receptor antagonist programme and $11 million milestone payment from AstraZeneca.
· Total profit after tax of £17.8 million or 7.06 pence per share (January 2023: loss of £3.9m or 1.55 pence per share).
· R&D expenses remained at £5.2 million (January 2023: £5.2m), reflecting focused investment in key drug discovery programmes focused on immune-inflammatory diseases.
· Net assets of £24.6 million (January 2023: £13.6m).
· Net cash as at 31 January 2024: £13.1 million (31 January 2023: £9.6m), before post-period receipt of $11 million milestone payment from AstraZeneca in February 2024.
Unbelievable value destruction for small shareholders. Shocking exit or no exit option or protection for the little guys. Nasty as hell. Clive as chairman couldn't careless too. He's sucked shareholders dry and decided to call it a day.
The talk of maybe delisting is just a proposal at the moment. The shares will probably still be allowed to trade direct with this company for up to a year as they stated.
So it's not really a reason to panic yet, they seem to be making money too. Cash of £17m approx.
Dr Clive Dix, CEO of C4X Discovery, said: "We have not taken this decision lightly, however, following an extensive review and deliberation to ascertain the most effective way to maximise Shareholder value in the longer term and increase the potential for the long-term success of the Company, the Board has unanimously concluded that it is in the best interests of the Company and our Shareholders to delist from AIM and re-register as a private limited company.
C4X has a successful track record of out-licensed pre-clinical assets to world-leading pharmaceutical companies. The Company has signed three deals which have in total generated $55 million to date demonstrating its scientific and deal-making capabilities:
· In November 2022, AstraZeneca signed a world-wide exclusive agreement worth up to $400 million for C4XD's NRF2 Activator programme; the first milestone payment of $11 million was received in February 2024.
· In April 2021, Sanofi signed a world-wide exclusive agreement for the Company's oral pre-clinical IL-17A inhibitor programme worth up to ?414 million; the first milestone payment of ?3 million was received in July 2022.
· In March 2018, Indivior signed a licensing agreement for C4XD's Orexin-1 Receptor Antagonist Programme which it subsequently acquired in July 2023 for £15.95 million.
Lymie you’re absolutely right. Decent people would have made an offer to buy from the concert party of Lombard, Polar and Griffiths. Its absolutely disgraceful what these crooks have done.
This is a good company, if you held shares at the start of the day, IMO you should hold and not crystallise a loss. This isn’t a company in distress but one with great prospects.
The AIM, is the vehicle that is the cause of this decision.
A vehicle for crooks who wear ties to manipulate company share prices. The board, and the boards of many companies on the AIM are in the same boat. Yes, some boards are of the crooked variety too, but most BOD's take a decision with a viw to growing the company only to see the share price rise by 20 - 30 % on a day and then slowly retrace a further 50% or so!! For me, the RNS spells out this frustration - the perceived under-valuation.....
From the RNS.
......the Board felt it was necessary to address the perceived under-valuation of the business in the public markets and the potential inability to access the future funding that the Board believes is required to allow C4X to flourish as further explained below.
You will say 'They are raising more money!'
Yes, but if were raised at 'fair value' it would be sending companies into a slow death spiral.
I have noticed a few takeovers lately, some being over a 100% increase on the market value! Plenty being not far behind.
I plan to stay with it, and see what the BOD can do when not swimming with the sharks.
GLA - whatever your decision.
Danno
Just sold mine for 9.55p via Barclays. Unhappy about the proposed delisting.
Personally the last 20 years, have been dire when it comes to AIM , should be scrapped, ots for savvy crooks, to steal hard earned money, to line their own pockets.
The minorities will get nothing out of this. The concert party should have bought out the minority with a bid then delisted. Makes you wonder about the future of AIM.
Can’t sell anyway
If you really need to ask that question, then I suggest you amend your username
Why sell?
Sold out for 8.55p. A bit better than expected, but a painful one given my average was 24p. £ thousands more p!ssed away. Not a good day
An announcement to try and provider greater returns for existing shareholders does the complete opposite.
This needs stopping.
Exactly JCEP. Opening price of 7.5p
Griffiths, Polar and Lombard will be picking up all cheap shares today and hence will get 75% so the resolution will pass
Those willing to hold delisted shares will be able to buy them very cheaply today and might make huge profit in time. Probably directors, managers, friends and large shareholders have a huge advantage. Small shareholders are treated very badly and have so little protection. AIM is a disgrace. Worry is this may set a trend.