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A better course of action may have been to RNS that they were attempting to get the accounts unblocked. Then once this was confirmed they could propose the RI.
Surely if they get the waiver from IPF the SP will recover and then they do the rights issue at a much higher price than it is now.
Faron Pharmaceuticals Ltd continues active negotiations to receive a waiver from IPF and to unblock the pledged bank accounts.
The AGM is set for 24th March ?
There is no dilution in percentage terms. but how will impact average cost per share.
Not if investors take their full rights issue , then there is no dilution.
Best to wait for the announcement
If a holder takes up the RI, they can still own the same percentage but without knowing what the sp will be when announced they could get hit very hard.
Thanks Dan. Understand now. Appreciate the explanation
Rights issue means existing shareholders retain their interests.
No impact from lower share price or discount.
If you had 0.1% before the rights issue and you take up your rights then you still have 0.1% after the RI. Company sorts cash requirements via funding from shareholders.
Every one is a winner.
Believe in the science.
Farn contemplates alternative short- and long-term financing options. One of those alternatives is most certain to dilute shareholders.
A huge sp drop, and a possible RI are good reasons to suspend.
This could be taken down much lower before an RI can be confirmed. Again , bad management ....
But the share price will only go down from here as what is the point buying now? Or have I missed something
No reason to suspend.
No false market.
Just pray that they sort themselves out whilst looking after shareholder interests.
Exactly and what’s the point buying anymore now when it will be discounted further as a rights issue??
The share should be suspended, how low can it go leading up to the AGM....
Rights issue at AGM..
If the science was solid - it would have been bought out by now.
The science IS solid so i am personaly not too worried about the finances ..
Money will Always be found when the science IS sound
Patience IS the Key here as Always,imo
An RI is only good for the shareholders if the company and its products have genuine potential. The board would need to reveal more info about partners etc. Just keeping pumping money into hope never ends well.
You wouldn't do a rights issue for a small amount of money as its a big hassle. My interpretation of this is that this issue has caused the door to be closed for now on any potential partnership deals and they are now going to raise funds for the next 1.5years to complete the trials themselves.... means we wont see SSV for quite some time now..... i am here for the long haul so will ride it out
The ship needs steadying.
Rights issue is not a bad alternative.
Can someone explain if that is good or bad news. Apologies for my ignorance in this
This situation needs clarification asap from Faron. In general the investors in this type of company -ie high risk but potentially high reward are supportive over the years.- The management at Faron have been doing a decent job - they have been a bit less than transparent at time but no less than other boards . Obviously their hand has been forced but as share holders we deserve an explanation and reassurance-soon. If this goes on the SH will drop further which gives Faron fewer options for getting back on track. If no investors are lined up for a share option - or Timo gets nervous then it may come down to a fire sale which leaves everyone up the creek.
Rights Issue.......
Restores some of the confidence that was shot
This is no more than a careful hold for me. The poor msnsgement that has lead to this situation is very concerning.