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Portage Biotech closed on Monday at 15US cents with active trading, recovering from Friday's dip to 13.5US cents. Looks strong to challenge the last resistance point of 20US cents with the focus on the sector.
Maybe more news of a listing on the DOW now that their portfolio of Biotech companies need greater exposure to finance.
Still nothing from Barclays Smart Investor, the notice still shows on my ISA .... "this product not eligible in an ISA account" ... ... and shows in the corporate action as share certificates awaiting issue by Canadian Registrar, dated 6th February 2020:
Portage Biotech Ltd:
As a result of the SalvaRX Group Plc demerger, you acquired a holding in Portage Biotech Ltd. At the time of acquiring this holding, we informed you it could not be supported in your Smart Investor account and the following action would be taken: SIPP Clients Investors’ holdings would be sold and proceeds would be paid to your SIPP account. ISA/GIA Clients Investors’ holdings would be registered to a holding statement which would be posted to the address we hold on file for you. A holding statement is a representation of your shares which are held electronically at the Registrars. At the time of writing to you, we anticipated the sale & registration of the holdings would have taken approx. 12 weeks. We are sorry that this has not been the case. Portage Biotech share certificates were expected to be despatched on or around 15 January 2019. Unfortunately, Portage Biotech shares were subject to a restriction period which resulted in a delay in the certificate being issued. The certificate was not received until 4 June 2019. The Canadian Registrar has since requested we provide additional documentation in order to proceed with the re-registration of your holding into your own name. We are working to obtain the required documents and will update you in due course. Portage Biotech is currently subject to a CTO (Cease Trade Order). Trading in the shares is currently suspended. Trading is expected to resume on the Canadian Securities Exchange (CSE) as & when the CTO is revoked. We reminded you that it is your responsibility to ensure you are aware of any tax implications & to seek independent tax advice if you are unsure."
Since then Portage has been reinstated on the CSE since 16th April 2020 and they have been traded daily.
As of the moment, their share price has increased from around US9.5cents to US14.5cents, so whilst it is still rising on news of further investments & a new CFO, I am inclined to let them carry on increasing in value. If they are listed on the US main market they will surely go higher.
I will forgive Barclays for the debacle if the share value of Portage rises.
Have looked at some of Jim Mellon's latest utterings, apparently, SALV is in talks with another biotech company with views on bringing it to market as an RTO, but Covid-19 has impacted on progress. I also see that there has been lots of interest in his Juvenescence Ltd longevity of life venture ... could SALV be the vehicle to bring it to market?
With the focus on pharma & biotech companies, there will undoubtedly be lots of JV's, mergers & t/o's.
Another stock that has been delisted, that I am also invested in, is Bould Opportunities (BOU.L) who are also in advanced talks with companies in t
You had a better response than I did Pesto; I messaged ii on the 5th and their response to me was 'I refer you to the message sent to you on the 12th Feb 2020. (which stated Portage was suspended) So far they have not responded to my last message correcting them.
I think the more that 'we' collectively pester ii action is forthcoming. Understandably if the Canadian depository is closed then not much can happen, fair enough.
I would not be surprised now that we have Allan L. Shaw as CFO A US listing will be on the cards. With so much going down at Portage it surely has to happen. So we could end up regretting holding a Canadian share certificate.
But this does not detract from the fact that ii, Barclays and maybe other brokers did not use 'Due Diligent s' trying to dump us on the American OTC which we cant trade on let alone list on!
Latest message re share certificates from II. I received this on 11th May.
Thank you for your secure message.
We are sorry for the delay in our response,
we are currently handling a high number of messages.
I have looked into this issue for you and
confirmed with our corporate actions team that the cease trading order has been
lifted however, due to Canada's response to COVID-19, the Canadian securities
depository remains closed until further notice and we are therefore currently
unable to deposit the holding certificates with our international custodian,
this means that we are also unable to withdraw share certificates at this time.
As soon as it is possible we will request the share certificates be sent to you
so they can be deposited with another broker.
Anyone know if this company is re-listing?
were you able to get your share certificates from II in the end?
Mine are still unavailable due to the delisting per their corporate events message to me.
Portage Biotech has appointed a new Chief Financial Officer, Mr Allan L. Shaw, who replaces Mr Kam Shah, who retires after 7 years service to the companies.
Mr Shaw has a wealth of experience with over 20 years in the pharma/biotech sector.
This clears the decks for the next stage of the burgeoning acquisition programme that Portage has undertaken.
Portage rose to US$0.13 (touched US$0.14) on the news.
PORTAGE MAKES ADDITIONAL INVESTMENT IN STIMUNITY S.A.S, A PARIS-BASED CANCER IMMUNOTHERAPY COMPANY.
Shares up on CSE
Portage Biotech rose slightly on the CSE to US$0.12 (up 14.29%) today on news:
Portage makes an additional US$700,000 investment in subsidiary company Saugatuck therapeutics after achieving proof of concept for NLG, one of its cancer treatment drugs.
NLG technology, invented in the lab of Dr Tarek Fahmy at Yale University and commercially
developed by our joint venture partner, Immunova, allows different combinations of drugs to
be encapsulated in a single nanomedicine and delivered selectively to the tumour
microenvironment, thus potentially minimizing systemic side-effects. Saugatuck which has
acquired an exclusive license from Yale University via Immunova for use of the NLG platform
for delivering DNA aptamers and certain aptamer-based combination products. Immunova is
developing a pipeline of NLG drugs focused on cytokine and other immune-modulating drugs.
Here are the latest trades recorded on The Canadian Stock Exchange for Portage Biotech:
Average around 10USCents.
Haven't been informed by Barclays if they have notice of my share certificates yet, happy to wait if the value goes up as expected.
Last price of US$0.104 on the OTC market on Friday 24th April so maybe CSE price will appear today.
With plenty of upside in the offing I am not in a hurry to have my shares sold by Barclays... they were up to 20 US Cents not so long ago, so you can see why.
Its been a long wait, hopefully now i will receive my share certificates from with Barclays and Iii. I cant believe its almost 2 years since the de merger of Salv with Portage.
Great news this week with the tie up with Bristol Myerrs Squibb.
Correction - CSE not OTC
Portage up and running again on the OTC ! as from 16th April. Hopefully now at least some of us will get our share certificates.
Not long now Kentan https://twitter.com/1971bod/status/1229798342089154561?s=21
In the OTC market, I can see Portage Biotech spiked to 18US Cents on Jan 24th and 20US Cents on Feb 6th. 2020 so this bodes well for when they are restored to the full market.
What isn't shown is the spread on the OTC market, which I assume will be quite large (depending on what buyers are prepared to pay).
At 15US Cents it gives a market cap of circa US$148million and at 20US Cents around US$200million.
Is Jim Mellon's "Juvenescence" part of Portage holdings or is it with SALV or FFWD? ... that will be a major game-changer.
Here is the latest press release I can see published by Portage on their website:
You can see their application for the revocation of the cease trading order (CTO) submitted 13th January is still being considered by the Ontario Securities Commission. From reports at the end of December 2019, I thought they had been granted a temporary lifting of the ban on trading their shares, but I can see prices for PTGEF on the over the counter markets
... OTCMKTS:PGEF on Yahoo:
Currently 15US Cents ... up from 14.
My Barclays Smart Investor ISA portfolio shows the original holding for SALV and Portage at 18x their number. But the corporate action notice says these are to be sold as they do not comply with ISA rules and because SALV has delisted there is no value attached to them.
Agree with you, the whole scenario has been completely mismanaged by Barclays and will hold them to account once this is resolved. ... last time I had a problem with them they sent me a hamper as compensation ... but I would need more than that to compensate me for my loss and inconvenience this time (despite the total value of my Portage holding going up 50%).
Kentan you need to have a word with Barclays as I hold salv in both isa and trading accounts so I now have portage shares in both types of account. Barclays have been utterly useless dealing with salv and Ffwd.
Meant u may be looking at the otc sp
Portage still suspended on cse so think you may be looking at the cse sp. Best guess is around 28th of this month. https://thecse.com/en/listings/life-sciences/portage-biotech-inc
At last some light at the end of the tunnel ... Portage Biotech relisted on the Canadian exchange and showing around US$ 0.14, so up around 40% on the suspension price (US$0.10) and have heard from Barclays Smart Investor that my certificates are being prepared for sale (cannot have them in my ISA) once the Canadian regulators have ratified them. Expecting about £30k from the sale and still holding the SALV shares in UK in my investment account after they were removed from my ISA when delisted.
Hoping Mr Mellon will come up trumps with a relisting for SALV on the announcement of the exciting new developments he spoke of earlier this year.
Could what the cash shell will be aimed at?
Thought Juvanescence was part of our portfolio with Portage Biotech.
Sorry 10th Jan; Today! We are now de-listed.
Waiting for an announcement imminent Re; a reverse takeover (if it happens)
10th of? Feb?
Ok so cancellation of SALV on the 10th and hopefully an announcement of a reverse takeover and a new listing.
Lets hope it's a good one!