The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Last time Ed tweeted around April - they had around cash and cash equivalents/liquid assets of c£13mn. So they are sitting with plenty of money. No need for a fund raise.
They won’t raise any money yet. If and when they do the sp will be much higher say circa 25p. Read the Chairman’s words
“readying it for future investment, including from institutional investors should NAV and market cap develop as hoped”
I really do think its just setting it up for the future. I don't think they are planning any raise / dilution right now...Hopefully.....
Midas
You reckon they plan to issue more shares, invest in something 'they' think is good or that 'they' will get value from to compensate for IF leap has been overhyped
I can't see them issuing 100% or anything right now. They have £5m cash still to use, I think this is for way down the line. Any shares issued at less than 11.5p and the NAV is reduced
There should be an interview following an announcement of that magnitude Longlad and an all round update, if he doesn't do that then he is not doing his job properly.
so these new shares will be issued at the price they are on the day do you think or will our holdings be cut in half if say around the 8p level at todays price, suppose the new shares will or might get warrants/options, for me its not clear and FFWD explaining all this with some kind of podcast might clear things up, just saying think i need a bit more clarity
ICB888
The market clearly doesn’t listen to these guys.
They are yet to deliver, so anything they say is simply cheap talk.
Come on Ed, time for some leadership.....after all I recall you said in your last interview with Katie that you are up all the time focusing on ffwd.......which btw is more trash talk as you are not exclusively involved with ffwd....so how do we know where your attention/ royalties lie.......I nearly made it without mention shareholding’s and alignment!
Another day....week...month...1/4...about to pass! We should get a friggin medal holding this torturous share
I think the Chairman’s comment gives a clue as to why they may wish to issue new shares in the future:
Ian Burns continued, "We are positioning the company, which was originally incorporated in 2006, for the next exciting phase in its development, by bringing its constituent documents up to date to reflect changes in company law and into line with current market expectations, readying it for future investment, including from institutional investors should NAV and market cap develop as hoped."
Clearly institutional investment could take us to a new level and a market cap of £50 million plus is when they start to get interested.
i wonder why we never upped our holding this time in LGP, nothing better than putting a few quid on a dead cert as they say, for me now would be a good time to do a proactive podcast to explain his plan and explain how everything's going to work, might settle a few nerves.
Ed needs to explain the reason .
Would guess that it is to take more meaningful amounts in IPO's or current holdings in LGP etc;
He said he would buy shares when out of the close period as with any fundraise the BOD should participate.