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Looking forward to it. Long term holding for me. The potential we have here could be amazing.
Hi. Yes...noted the illequidity. This share DID move when investors discovered that Biohaven would list...giving them the second biggest dividend in the US last year. In fact it moved to x6 today’s price...just a demonstration of what we could have here...but 10 tines over this time! I suspect that the RS (when it happens) will prime Portage for a NASDAQ listing which should solve the issue. Portage will be big. Cancer immunology is a MASSIVE field. Jim himself pointed out that it has gone from nothing 6 years ago to multi billion dollar sales this year. So I fully expect this beast to grow once the 120:1 RS takes place. I don’t have my shares yet either...I3 shares took weeks to organise after the GWIK deal a few years ago. SALV won’t be Juvenescence. But they are looking at a number of targets. They will use the Portage shares that SALV have retained (13% worth around £9m based on the closing Portahe SP of $0.11) as working capital for an RTO...so as the price of Portage rises...so will the potential value held by SALV. An incredible piece of business which is obviously fuelled by their knowledge of what is coming with the Portage SP. We kind of caught a glimpse of this with some of the incredibly confident tweets coming out of Intensity after the J P Morgan conference. So in summer...it will take time to get our shares. In the next few months Inexoect Intensity to announce exciting news...Portage to start its next climb...RS and NASDAQ listing for Portage...fuelling a decent RTO into the SALV shell in a few months time. Exciting eh?!
Quint. I see you’ve been here for a while. Can I ask your opinion on a few things please. I’ve been here since early salv. The portage is a bonus. A huge one in my eyes. One which I intend to hold long term. I’ve been researching portage and it’s daily trading in its shares. It’s daily average is very small less than 50k shares a day, just a few thousand pounds worth a day. Even with that it’s spread is often as high as 30% and it will move 10% in either direction with just £1k worth of shares traded. I really expected it to rise a decent amount after the salva deal and it taking on its new portfolio of very promising companies. I’ve read a few of the Canadian chat sites and quite a few holders of portage will say they put orders in at the start of the trading day to sell as little as 10k shares and at the close quite often the brokers have only managed to self half if any. It’s so incredibly illiquid. I haven’t received my shares yet like most. I’m keeping long term. But what about those wanting to sell their bonus shares when they can ? Is it Juvenescence that you expect to RTO. here ? Why would you think it needs portage shares to be higher ? Appreciate your views.
It’s just to say that if you have an ISA then your Portage shares won’t be held within it...hence tax implications should you sell. Unless you can B&B them the following year. They already stated they are actively looking at possible targets. It will RTO but I don’t think until Portage SP is significantly higher!
Hi letts, sure but please note that this notification is for ii clients; other providers may give different advice.
SALVARX GROUP PLC ORD GBP0.025
Possible Suspension of Trading
Expected suspension date: 8th July 2019
Market affected: Alternative Investment Market (AIM)
Please be informed that Salvarx Group plc has announced that following the Disposal and the Demerger, the Company has ceased to own, control or conduct all, or substantially all, of its existing trading business activities or assets. It is therefore classified as an AIM Rule 15 cash shell and as such is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 on or before the date falling six months from completion of the Disposal and the Demerger, failing which the Company`s Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40.
Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified. If the stock is delisted, we will endeavour to provide you with a share certificate in relation to your holding, should one be issued by the company in the future.
Due to restrictions imposed on ISA accounts, unlisted shares are not considered a qualifying investment. Certificates received in respect of ISA accounts will no longer be held within the tax efficient wrapper so will lose any tax benefits.
SIPP, Pension Trading Account, and Junior ISA customers
Unlisted shares are not considered a qualifying investment for these accounts and withdrawals are not permitted from these products. Consequently holders may wish to liquidate any holdings prior to a delisting becoming effective.
"Jarcon; Just in case you have not noticed, there is another 'Corporate Action Notice' regarding SALV (shell)"
Hi there, Jesterman!
Could you post that "Corporate Action Notice" regarding SALV (shell), please? Or, maybe provide a link. Many thanks!
I brought my salv shares in my Trading account just in case there may be issues with 'Non Qualifying Stocks' within my ISA; could be a bit of a grey area, but I am not really sure.
Jarcon; Just in case you have not noticed, there is another 'Corporate Action Notice' regarding SALV (shell)
The line of Portage stock has landed in my SIPP, but not yet in the ISA. Why I do not know.
I suspect they will move to the NASDAQ as soon as they RS. Their website is now updated to show their excellent portfolio.
HL say "We are unable to provide a recent price for this stock online and, as a result, it is not included in the totals here. For an up-to-date price, please contact us."
My impression is it will remain that way ie no on-line trading.
QF (a 1963bod)
Hi Jarcon, you are welcome and everyone, I have joined the party. GLA
jesterman - my thanks, hadn't looked at the corporate actions page,
it does indeed suggest a waiting period:
"The Company has advised that the Portage Biotech shares will be dispatched to us in certificated form, on or after the 15th January 2019. Upon receipt of the certificates, we will arrange to deposit the these with our International custodian to allow you to trade your new shares freely. However, please note that cross bordering the Portage Biotech shares may take up to 6 weeks from receipt of the certificates."
The "up to 6 weeks from receipt" part is clearly the key here.
thanks again Jesterman.
I am with ii to and am showing the same; Look at your 'corporate actions', seems to suggest some delay before we can trade. Plus if you go on the CSE (Canadian stock exchange) It looks like the shares are currently suspended?
Same with HL and Halifax is a no show as they take a while longer. Not long now
My Portage shares are showing in my portfolio (I'm with II) however they presently have a value of 0.00 showing - anyone else having a similar issue?
That sounds more like it. Approx £9m worth. They are just awaiting uplift on the Portage price. Be worth £54m if Portage reach pre-Biohaven levels with one of their new unicorns! SALV would be back in the 80’s on that alone!! Food for thought.
The Company’s shareholding in Portage (which amounted to 56,657,531 shares immediately following the Disposal and the Demerger) may increase by up to 40,692,697 shares to the extent that certain options remain unexercised by 5.00 p.m. on 8 January 2020.
56,657,531 + 40,692,697 = 97,350,228
US$10,708,525.08 divided by 1.3 (American Dollars) = £8,237,326
Actually, Quint, you're right! The US$0.11 (11cents) is American Dollars and not Canadian Dollars! Apologies!!! Portage is listed on the American Stock Exchange as "PTGE.F". It also seems to have a Canadian listing as "PBT.U" in Toronto! My mistake - sorry! But, I think I'm right about the number of shares. Does anybody else have an opinion about the number of shares they think SalvaRx have?
Portage Biotech Inc. address:
47, Avenue Road,
Ontario, M5R 2G3
Portage Biotech Inc. is on the Toronto Exchange not the New York Exchange! Therefore, you have to multiply 97,350,228 by 11 cents (Canadian) - which = C$10,708,525.08. This equates to £6,189,898.8901734 or, effectively, £6,189,898. At least, I think that's right.
Quint, the number of shares that SalvaRx have is, according to their own information, and to that on the Portage Biotech Inc. website, 97,350,228 shares divided by 757,943,784 shares - which = 12.84399055% (almost 13%).
TBH. It’s whats going to happen with the shell that will bank us the cash.
I’ve searched back through the RnSs and the last 2 state the same figure. Around £4.65 m worth Yes you’re right it does say on there around 1m shares. I think the RNS is the one to calculate. It would be nice to be proven otherwise as the more we hold the better for us.