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just did a top up here at just under 5p.. would only do another top up on meaningful further weakness, at this time.. hopefully for the rest of you long suffering there isn't further weakness..
at least they have funding secured for the short term.. I expect there will be further US interest II interest too.. especially at such lowly prices..very disappointing to me.. still the race is long here and via active trading this has been very good to me so far...very fortunately.. but a joke so far for longterm buy and holders I understand..
If it was based on the US price then its not shockingly low. I think they've hung below our price for months. The bright side will be another 3 million dollars in the bank, but I just hope soon they start releasing news to get the sp back up again.
I'm shocked by the lowness of the raise price here and by the lowness of the warrants price, especially with a 5 plus years out exercise term . A wake up call for all bulls here, especially George.
If they are to do further short term raise(s) the benchmark price is now very low.. indeed shocking low imho .. hopefully they don't need more raises for 6 months plus.. but they may take up requests from other interested parties that might come forward soon at such 'bargain prices'
Thankfully I sold approx 40% of my position here at b/e recently when the CFO buying didn't help the price go up and have a smallish position only left and will add small to that today and again in the future towards bringing down my average..
Sounds Plausible NicetoMichu and to add that there could also be talks with other II's that might perhaps want to absorb those into their own holdings or Link could also be contacting the likes of CMS to gauge their interests. I assume most anything is plausible here.
( as well as being administrator for the now on notice of closing Woodford Equity Income Fund ) I think Link Fund Solutions are also the administrator of Woodford Patient Capital Trust. (WPCT) This has its own Independent management board who had employed Woodford Investment Management as Fund Manager for the Trust, but he is now no longer it's Fund Manager. ( this a listed Investment Trust and has its on Bulletin Board on LSE too btw)
My GUESS remains the Mtph holding is in WPCT and this latest TR-1 shows the administrators have transferred the holding into their legal entity from a Woodford Investment Management Legal entity: so the holdings has not been sold to other II's as I guessed/hoped yesterday. (it has simply been an administrator transfer exercise ) A new fund manager may, in due course. be appointed by the trust management board to oversee WPCT holdings and it would be up to them what they do with these mtph shares. ( alternatively I guess they could decide to close the trust too and sell up and reimburse from proceeds etc)
Ps; If all or some of the Mtph holding is held in the Woodford Equity Income Fund then I expect it would have to be sold on in an orderly fashion from January onwards by the same Link Administrators. (could be off market or in open market etc)
All my best guesses .. and very happy to be corrected or added to or whatever..
Link are in charge of selling Woodford assets from his income fund. Not sure if they have bought them to keep or sell on
It that RNS the answer as to where Woody's shares ended up?
Touch wood, we could escape this woodfood mtph sell off nicely now George .. and agree if he was to sell even the remaining sub 5% holding into the open market it could bring this down meaningfully from here.. hopefully he doesn't and he may well not ..
''Would like to see 25-30p and a $5.00 P/S stateside ask for the raise as that would help fill the coffers as we ramp X201.''
That is some shout for one shout George... and has me laughing out loud, in truth.. and leads me to offer that NOBODY will EVER accuse you of having anything but an extraordinarily positive mental attitude towards this share !!!! And a raise at that price would be fabulous... and anything is possible, I guess.. but if you were to ask me to offer a per cent chance of that happening I'd generously - because I like you - go for one per cent :-)
(I'd be - very even - pleased if they got the next raise done at 6p or 7p btw and would guess the chances of that are say 25%.... and sub 5p would be at least that per cent chance too imho )
Wow...I was busy in meetings all morning and didn't catch this bit of news. Well I agree that some one or some firm will or has likely picked this overage up on the cheap side and hopefully it doesn't drip back into the regular AIM or we'd be looking at 3-4p range if this dripped in over the course of remainder of the year. Let's wait and see if a new company files for the 14-15% as a new holder with voting rights. I agree it wouldn't be CMS or they'd maybe have to take over and I wouldn't want to see that play out. very thankfully we haven't seen a massive dilution so maybe a fund or II will step forward. Also we need that Q4 X110 news soon if the mixed shelf is to get a decent raise for some good funding. Would like to see 25-30p and a $5.00 P/S stateside ask for the raise as that would help fill the coffers as we ramp X201. GLTA
(from previous link) IF this name was in the Patient Capital Fund it seems that that fund specifically is being taken over by another FM instead of being shut down completely.. may have a bearing on any remaining holding that woodford Investment Management has here - max 5%, maybe less - or may not.. (could block sell that 'off market' to another II/II's too ..unlikely to be drip fed sold into market whatever is my guess,, very hopefully... and very thankfully)
ps Academic now - or soon as some more to sell perhaps - maybe, but these shares may well indeed have been held outside his Equity Income Fund as that won't start selling down til Jan as a notice period required before wind up starts.. I think?
Holy Cow on that tr1 .. he's dumped at least 14%.. and 'off market' very thankfully .. so must be a block buy by another II or II's .. the buyer/s will announce their purchase soon no doubt .. unless it's a bunch of buyers and none over 3%.. unlikely though ... very interesting to see who... CMS(HK) and A&B(HK) - aka the Chinese - are considered concert parties and hold 25 per cent each and so I'm guessing they'd not be able to take on that much more shares as even if split it would result in over 30% each … but, off the top of my head, I don't know the details on what level holdings in this specific situation would require an outright bid by them for the co.. help please?
Maybe Ora Capital, as the next largest holder, has decided to increase massively from 4% ...or maybe some one/ more than one new.. soon find out...
Generally, Woodford getting out amazingly quickly and without any s/p impact seems very -very - good news indeed (unless it has other bad knock on consequences.. or could be good either.. or no consequence at all.. etc)
Tr1 out Woodford Investment Management GL M
Niceto Muchu, Based on my own research and previous articles listed from 2017 I would concur with your sentiment and views that the equity fund holdings are not these early stage Pharma and/or Bio's. Besides if that timing serves me correct Mr. Stamp probably wouldn't have thrown good money at the possibility of a large fund closing out here. I'd rather say that we're hopefully nearing the time for major X110 update, and possible news regarding the Mixed Shelf offering when the stock pops on that news. These low 5'p ranges are nothing but a buying opportunity to me and others like Stamp.....cheers.
I see that other names that Woodford holds - eg 4d pharma and Allied Minds - have come well off today too.. I hope people distinguish what names are in what funds and this ends up helping mtph bounce back soon..
ps I posted this because I guess this mornings s/p down movement - the s/p was already down approx. 9% on the day before I posted this - might in some way be related to todays announcement on Woodfords flagship fund. I guess my post should allay fears somewhat, and note that It's only my best understandings from some quick research . Happy to stand corrected on any or all of my post.. or have more colour added by others... etc..
I think - but am a fair ways from certain - that his Mtph holdings are in the Woodford Patient Capital Fund as opposed to the today announced soon to be closed Woodford Equity Income Fund (ie starting to sell out in Jan 2020) I've seen an old listing of the Equity Income names and this is not on the list , also this is not a dividend paying type co now or in the near future. And Patient Capital Fund has a key focus on early stage healthcare and technology. And there are stocks like mtph in an old list of the top ten holdings - this is best detail I can find on a quick search - of the Patient cap fund..
I think Woodford has four Funds altogether and only the Equity Income fund - biggest one granted - was suspended/ now to be closed. So my guess is he is not a forced seller of Mtph when that Equity Income find starts to unwind in Jan. (that said the Patient Capital fund is not doing well and who knows what will happen with it in the future etc..
But even if he wanted/needed to sell some/all of his Mtph holding there might be a block buyer around market price at that time anyway .. so the effect on s/p would be a guess)
Can anybody give further/better colour on this for me please?
Ps: On the Midatech Pharma web site 'Woodford Investment Management' is listed as a 19% holder here . This is a Company level descriptor and so gives no indication of which of his funds holds these share.