The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Mind you, it’s all a bit irrelevant since they who must be obayed, will just vote it through. There are no ii’s or Long term pi’s with the % to vote otherwise since most pi shares are held by traders who have no interest in the company. Ce la vie
quite. more than understandable.perhaps they will go for a record 4 delay announcements this time.lol!
The.Italian,
May apols, easily missed with so much BS flying about......lol
totally agree bignose.absolutely stinks.small point of detail if you don't mind.there were 3 (yes3 )delay announcements on yooya, but they did issue documentation on the 11th july .but it all went off 7 days later.its just that i remember it very well as an example of egregious ineptitude
To be honest, I was expecting it too given how much BS was flying around and how much in my mind the deal stinks.
One just has to look at the time lines to know its all a bit smelly and should be investigated (which maybe the reason for the delay ???? Speculation on my part).
According to the RPG announcement a price was agreed and number of shares to be allotted based on an SP of 0.07hkd on the 29th May.... What you may ask 2 months before DLI sought a series A funding ???? The announcement to shareholders was made on the 2nd of September (noting that the Yooya announcement and SP selected value were based on only one day apart ???
Originally incubated by Insilico Medicine IP Limited, DLI started its
independent journey in 2020 after closing a Series A financing at the end of June 2020 that
included some of the most credible venture capitalists specialising in biotechnology, longevity,
and artificial intelligence. But why if RPG had already been in discussions since the end of May ????
14th of July, 2020, Hong Kong — Today, Insilico Medicine announced a spin-off of its aging biomarker and deep aging clock business. On the 4th of July, the new company called Deep Longevity, Inc successfully completed a round of funding led by the reputable biotechnology and longevity investors. What, how is that possible if RPG had made an offer on 29th May (must have done to have an agreed sp for share issue)
In addition and as part of its due diligence on DLI, the Company has had a professional independent valuation performed on DLI, a summary of which is set out in this announcement...... Yet they agreed spot on with the funding round amount. One doesn't need to be a rocket scientist to see it was all agreed long before !!!!
Then, shareholders get the announcement...The issue price of HK$0.070 per Consideration Share represents:
(a) a discount of approximately 43.09 per cent. to the closing price of HK$0.123 per Share as quoted on the HK Stock Exchange on 2 September 2020, being the date of the Share Purchase Agreements, which is 175.71% on the 0,07 issuance price !!!!! Why wasnt teh announcement made earlier ? Why wasn't the SP chosen the day before like the Yooya deal ????
Then on the 3rd Sep we get the OTC announcement stating that the approval has been given on 27 August 2020, 7 days before the announcement !!!!
It all stinks.
And Remember, the Yooya documents were delayed twice. In the end, nothing was sent out except an announcement that they had walked away from the deal.
They don't deserve to be running the company, let alone getting paid to do so.
well i was half expecting it but still very angry.i know that is a pointless emotion (and its not one i normally feel even in shares that have gone disastrously wrong), but i find this almost inexcusable.i know thats simplistic, facile and possibly unreasonable, as we have no knowledge of what is going on, but really if they do this repeatedly how can anyone take them seriously.
Am I surprised? Sadly not! I would have been absolutely astounded if, given their propensity for abject failure, there would have been no delays or obfuscation. Ugh.......
for god's sake its a tiny little deal.how difficult is it to get what will be largely standard form documentation prepared.this is not difficult stuff.obviously the delay is in relation to terms not technicalities.pear shaped or what?.getting angrier by the minute. back to 0.67hkd very soon no doubt.
got text now.even more furious!
no text yet just the headline.unbelievable.no wonder s/p keeps falling.no one believes they can organise anything.absolutely furious!