The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Maybe I missed the connection, but why by the 6th. Ok expiry of the remaining is 6th July, but at midnight so surely if they say get instructed on 6th at 5pm (post uk close), then they would trade on the 7th. Is the 6th related to something else. Thanks
Like everyone else, waiting in hope this can be put to bed soon with a positive outcome.
Thing I don't get about the director extensuon is why it would cause a suspensuon. Director knows market sensitive news in closed period can't convert warrants fine - extend the period they can convert warrants but why would you stop everyone (all the people who don't have access to the sensitive information) trading the share in the meantime. It's something else but what, who knows, perhaps the attempted theft perhaps something else. Either way I expect a conclusion by 6th July which is basically next week. Hopefully gets wrapped up this week with the results and operational update.
ok looks like not yesterday and not today then! Before the 6th July in any case??
Ive sold all grl shares before suspension so it should reopen at 20.
Suspension could end today with results then the shares get admitted tomorrow is my thinking. Lets see.
This was my thinking, not been in a suspended share before, it possibly feasible that shares could be admitted when a share is suspended but I cannot see how they could be dealt unless we were unsuspended. We know the final results were end of June last year, and it seems feasible as this would be the end of the closed period.
The 14m shares which are confirmed as part of the warrant exercise will become effective on 28th June. Surely this means the suspension will end then which also coincides with results. The 6m nguvu warrants are separate to the 14m and will likely get converted sometime between 28th June and 6th July.
Can the 14m warrants be admitted if we're suspended?
"The 14,000,000 new Ordinary Shares to be issued to pursuant to the Warrant Exercise will rank pari passu with the existing Ordinary Shares and application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence at 8.00 a.m. on or around 28 June 2022."
"could not be exercised during this close period. Accordingly, the Board of the Company resolved to extend the exercise period of the Nguvu Warrants by two weeks, to expire at midnight on 6 July 2022"
Well that statement settles one thing. The closed period will end before 6th July, so the warrants can be exercised within the extension, which means we will get the annual report in the next 2 weeks. I expect the company doesn't have to unsuspend for the warrants to be exercised but my reading is this is the reason for the suspension so it probably will? I think we find out in the next 2 weeks. I'm not 100% certain but I'm reasonably confident this is behind the suspension.
Last year FY results were 28th June, that being the last Monday in June. If it's the same this year it's Monday coming.
None of us know the full facts but hopefully not long to wait now. GLA
DJ rather hypocritical to ask me if I know something for sure when you post this "So now we see why they had to suspend the shares because they were sat on market sensitive stuff". As For you retiring if you are wrong, that'll be at least the 8,000 time you have stated that you are leaving.
Why would the company announce the issue of warrants, make no reference in their statement to the suspension and not at least issue another RNS stating that owing the previous RNS and the disclosure of the extension, trading in the shares will commence on xxx date?
I think you were probably more accurate with you theft hypnosis.
Gazshot - call me a.muppet all you want but it doesn't change the facts. Not does wishful thinking.
My point exactly Dj, it's plain to see ( for most ). That was the "small gripe" I referred to. They should have stated in the RNS that this was the reason for suspension, just for muppets like Mc.
These warrants are not what is behind the suspension or it would have been lifted today with the announcement.