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Visit Telegram and join 4D Pharma shareholders. and ask to join the shareholder group. An email will arrive
65 members to date. Over £5.5m invested..
No shareholder action group has been formed more quickly. From first day.
5 weeks before Interpath present conclusions. Shareholders should not expect a bean.Information was hidden regarding breaches of Covenant and cash held.False seductive promises and timelines. Finances not managrd. The very contract with OF may even breach shareholder FCA rights.
Legal action being investigated in detail. Individually and the group.
Can somebody advise me on how I can join the action group on telegram, I’ve managed to download the telegram app, but don’t know what my next step should be too join, I only have a few thousand shares, but everything is relative, don’t want to lose all of possible… many thanks for any help….Bill
Thanks crl123 - appreciate yours and other LTH's efforts here. I've joined the Telegram group chat and like many I've invested a lot (for me anyway) thinking that 4D had a great long term potential with all the filed patents and promising products only to find we've been taken for fools. I agree, I'm counting this money as lost but I was also in at Hurricane with a fairly small amount and that came good (well as much you can expect) and there's a vey small chance of recovering some money depending on the credit report when it comes back, all we can do is write it off and have a small glimmer of hope and I'm certainly comfortable with joining any shareholder legal action as needed.
I've probably missed it last week, but there are updates on CH database:
4 charges were filled on 29th of Jun. / delivered 5th of Jul. (Oxford Finance Luxembourg S.a R.L. is just formally ring-fencing their already securitized rights)
Then two fillings (published on the same: 5-Jul): admin and address change (for Interpath).
"Insolvency" section added to company profile with contacts of IPs.
(interestingly they clearly name it like that, formally insolvency is different from doubtful solvency in a way what for former shareholders don't get anything, while with latter they might get something).
Thanks Andrew. I need to find out what is an apps store. Will talk to my daughter tomorrow. By the way I do not have a mobile phone from choice but I know we have been taken to the cleaners by this management. Thank you.
Tim Adams has set up one Telegram group and has posted the link in his Twitter feed (tima441). You would need to download Telegram from your App Store.
Regards
Andrew
How do I register to join the telegram group? Is it via email or google? I have never used facebook or whats app or the other apps. Any help appreciated.
At present the action group has 46 members who have lost just over £4m investment.
I have not counted the shares as yet as it is is the sum invested which was initially needed. There are betwen 5-10 investors with £200k to £500k invested. You have to be wary of what the truth is though.
The group is. inundated . The horror stories of peoples’ lives decimated is awake-up call and Duncan should lie in utter shame . Not forgiveable. He knew. It was fraud and as such must be proven.
I would appreciate precise misinformations and/or omissions of market sensitive information as solicitors are asking for this.
Liste with dates would be great.
Others havve give some info but it needs to bevprecise.
If anyone wants their money back, do it.
I have informed Interpath that there is a group and the sum invested. Nothing more.
No legal action has yet been taken -nor should it until necessary-apart from by individualls on DP or maybe they are bragging.. Interpath are just doing a job. DP does not care if we are dumped…let’s be real. Nor do creditors. So shareholders will get nada. There are six weeks until Interpath report back on creditor response. Shareholders may not vote. Representation is important or…yes…we will be shafted. It is the norm. Expect nothing unless squeezed. And eventially by a representative group like Seres or Angus or Flybe. DP has genuinely taken us all for a ride here. He knew it all.
Butbif facts and omissions can be itemised and dated, then he has something coming to him.
Interpath know of the group and have acknowledged. Today they were emailed the sum lost by investors. We are talking a huge number of shares here .
The way forward is uncertain.
But to lie back and give it all up to a conman(?) Is a large pharma really gonna give a cent back to shareholders? Relist with new capital?
It doesn’t really work like that in the cuththroat world of business. We are history unless DP genuinely means business( what do you think?) . I think he will be eaten alive . I want to believe the nice things. I really do.
Telegram group if u want to registe
The only way it comes back to AIM is that the Admin / BoD finds money from somewhere. Not only the debt but funding for the coming 12 months? - so quite a few millions me thinks. Maybe they can sell one or two of their IP’s - but its anyones guess what value these are worth.
The other option is a big pharma buys the company, and after paying creditors there is something left to pay us shareholders. I think we’ll need more than one bidder, otherwise the selling price may well be low, but putting a spin on it that they will save the company, keep staff employed etc, but shafting the shareholders who have pumped hundreds of millions into the company.
But I suspect learn that if they were to do that they would take it "private"; why do they need a bunch of hangers on like us?! 4D has already proven that having a public listing is not all that it is cracked up to be; indeed it was probably their downfall - the plummeting sp made it impossible for them to riase money thorugh the market.
My only hope here is any big pharma sees the value of 4D pipelines and buy it and get rid of management team, to get it back trading on AIM, to do a placing later when sp gets higher to fund the trails, nothing to loose for the one to buy it.
At the moment I just assume all my investment is gone here. So I can enjoy the summer. All the best of luck to all of us
Porky, great post but legal action is not pie in the sky, it will be humble pie served to the BOD!
Options wouldn't have been granted if they didn't think there was a going concern. Sure, they are in technical default and handled it brutally (and opaquely). But I suspect #DDDD will be back in business but the funding structure is what remains to be seen. Even a highly diluting solution could be significantly beneficial to current shareholders in the medium term.
I am not in the telegram group despite a loss here of about 160k which fortunately i can at least offset half of it that wasn't in ISA accounts against capital gains
However, the whole situation stinks. Talk of legal action is frankly all pie in the sky. I am not going on a witch hunt and interested in chucking more money at this or funding legal action against Duncan or anyone else bloody pointless. Bit different like the HUR situation where they had a fund fronting it.
What we need is either the business funded and relisted back on the AIM. It cant go back on the NASDAQ now anyhow i understand which is a blessing frankly, awful mistake. OR the business sold to a Bio at a level where we see at least some recovery of our investment
Currently i have a number of biotech investments and this sort of situation just puts me off the sector frankly. Which is a shame as without investment we will never cure anything BUT we constantly get shafted if not by the very same directors that ask for our support in the first place as the cash comes far too easily to them or by scum bag shorters out to destroy the business and take us down with them. Sick of it.
Also, Duncan knew about this situation and awarded them a bloody massive pay rise, you couldn't make it up. Hindsight is a wonderful thing BUT note to self whenever anyone with a large share holding starts selling get the hell out regardless of possible reasons.
GLA here, i really hope a commercial buyer found and this doesn't go pre-pack PE funded MBO.
The action group at hurricane energy did very well for pi. It was however led by a big ii crystal amber. You might want to ask on that bb how to fight against bod recommended activities that aren’t in your interests
Zebo , depending on how people have valued their losses and their truthfulness looks like around 10 percent atm, imv.
Roughly what % share holding do the Action Group hold.
I may well join although I only hold 100k shares
IMO there is only one advantage to an action group and that is as long as they are represented at the administrators they could help stay off any sneaky PE funded MBOs on the cheap where the debt gets covered off and the IP gets effectively given away and SH gets 100% shafted with Duncan keeping control.
In this situation the action group could vote to reject that and moreover force the administrators to a) get another valuation for the business and b) extended the period of advertising for a buyer to seek out any fresh bids.
IMO there must be a buyer somewhere that would pay to acquire all of the assets at a respectable value, strip out the major costs, the vaccines milestones would practically cover the OF debt over period anyhow and in this situation, which is our best hope, at least return something to SH.
Currently i fear the former. Lets see how events unfold.
Diagnostic, this will not fizzle to nothing imv. The minimum I shall do is make a formal complaint to the FCA and they must investigate which means some people in DDDD will likely feel some discomfort.Hopefully more will happen and some recompense will materialise from action elsewhere - we shall see.
Thanks for that…from prior experience things fizzle to nothing in the end, however I’m fully on board and understand a need for retribution!
Diagnostic, a shag [ shareholder action group] can achieve the following;
Pooling of ideas and views as to what has actually happened, especially who did what and importantly why.
A crystallisation of views around the point of whether there have been illegal actions or inactions by the main players involved
Ideas and hopefully agreement on the way forward
Pooling of resources , especially effort and potentially finance
A lobby group or group of agrieved parties who can share a legal action
Importantly a feeling that we are doing something positive.
What might the action group hope to achieve other than share holder angst?