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As I said, they agreed to be paid in shares as they need to dispose of the stock...
"On 27 March 2024 the Company learned that DSM Venturing BV's current shareholding is 130,923,358 shares, being 5.90% of the Company's existing issued share capital, and after the issue of the 45,123,732 New Provexis Shares DSM Venturing BV will hold 176,047,090 shares, which will be 7.78% of the Company's enlarged issued share capital.".
How else would you interpret that?
They have stock they need to be rid of, and have agreed to take shares instead of cash.
I don't think you could reasonable interpret that as building a stake...
DSM are building a position here. Could be the precursor to a full-blown bid? Certainly one to keep an eye on.
Their ffs
*hangs head in shame
Also, if they're so inclined, DSM can instruct someone to drip feed there shares into to the market as and when they think the price is right, so they're happy too ( and Kev can buy them, which'll make him happy too ! ).
Credit ( pun intended ) where it's due, that's a decent way of solving the cash flow issue and doesn't fundamentally change the value of the company because we've directly swapped equity for stock of the same value.
With Lucas having been a whisker under 10% I wonder if he passed on the opportunity to increase because, under the AIM rules, going over 10% would see him treated as a related party ?
BB
Doesn't seem like this news will drop the SP anyway, so time for a small top-up.
Well done IF. Lets wait for the doom and gloom posts to arrive from the ones hoping to buy on a very low fund raise placing or are just not invested anymore in the company. Roll on the new 2024-2025 Isa allowance
Hmm, wasn't there an outstanding question about the shelf-life of the DSM stock, and does this indicate that it has been confirmed it can be safely extended?
Seems very positive news and hopeful in the near future sales can start to cover costs.
I don’t think it entirely solves the funding issue but this is a huge vote of confidence in PXS. DSM know the company better than anyone and whilst I’m sure PXS leveraged the fact that the stock was of little value to DSM, it’s still a great result for shareholders.
Also very good news that the Irish setup is complete
On the whole, I can't help thinking that this is good news as it saves a messy fund raise that would have almost certainly been done at a lower share price.
It resolves the issue of the fund raiser that has been hanging over our heads for the last 12-15 months and, at the same time, it identifies the further commitment to, and confidence in, the product by DSM
Rns
Very positive runs , Dsm are happy to invest more in the company and it seems sales are booming !
Well I guess DSM are confident in a return.
I think of it as joint IP and share of final product, not just supplying FF. PXS will want to retain control.
I’d take 50% of that huge market, of course we will supply ff to by-health, all other ingredients will be sourced by By health from others .
Remember that whilst BH have the patent, FF as a drug is a joint venture between PXS and BH.
This is different from all the other finds in that it will be classed as a drug in the “territories “ China Taiwan Australia .
Hi gixer,
As usual a great find. Hope all these will materialize soon.
Gixer - Great find!!
The thing that slightly confuses me in all of this is that By-Health seem to have bought in to the efficacies of Fruitflow and seem to be spending a lot of time (and money) into research of its additional properties. They seem extremely confident of the product itself.
Given that, I would have thought that they would at some stage look to be taking a stake in PXS with a view to a by out of the Company. However, there doesn't seem to be a glimmer of that sort of activity at the moment. From what I read of the new Patent, it will be owned by By-Health.
I am not sure that is a problem - the main issue is that this will increase the value of the existing PXS patents and surely will impact on the SP of PXS.
I have said it before but i think a rationale valuation of our current patents is about £40 - £50 M (ie 3 x current SP). This new news gives me confidence that the real value of our patents is somewhere north of that figure. IF we get some form of medicinal approval, the upper limit is. surely a lot more.
Until we get some solid news I fear we will just be stuck around this SP.
An update would be more than welcome.
Sp
Yes it’s all getting very exciting, except the so of course! Maybe a trading update is needed next week ,.
It was "A medicament for preventing and treating cerebral thrombosis" that caught my interest.