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Would make sense to buy in then as you are guaranteed a price of £1.41 from purchasing at around £0.90. Just means cash will be tied up in this until it all goes through officially surely?
Or am I missing something?
£1+ looks primed to be breached. Deal equates to £1.80+ $7.5 million cash so fully funded. No brainner
Ok so its either if you continue to hold or you should have been holding on the 13th or prior????
Continues to hold says to me there isn't a cut off yet. No mention of August 13th in the RNS.
True but Mellon and co won’t be selling so that leaves 20-30% FF
but, my experience says that any co that has such a mightly leap with so few shares trading could/will work the other way too... noone wants to be holding a share that could drop 50% on a couple of trades... just keep 'em peeled, as shaw taylor used to say (i think... for the old uns from the midlands).
gl
So anyone who buys now will just get the price at whatever this closes at?
Consideration Shares valued at approximately US$75.8 million, representing a premium of over 250% to the current market valuation of SalvaRx*
Shareholders who continue to hold SalvaRx shares will also receive 18 Demerger Shares (i.e. Portage shares) for every share in SalvaRx held on the Demerger Record Date, equivalent to approximately US$1.80* per SalvaRx share
It's a done deal that just needs rubber stamping at the AGM...
Ian Walters, CEO of Salvarx Group is also on the board of Portage and will relinquish his position with SALV once the deal is completed.
Surprised that SALV was not suspended on news of the RNS.
You had to be a shareholder at close of business on 13th August to receive the "Consideration Shares "(18 Portage shares @US$0.10 for every SALV share that closed at 44.80p)
Can't understand why MM's are not closing the spread and bidding for shares that will appreciate considerably to be worth double in future.
Directors’ Interests
The table below sets out the Directors interests in the Company’s Ordinary Shares, including their connected
persons, together with details of options held by the directors over New Ordinary Shares of the Company:
Director Number of Ordinary
shares
Percentage of issued
share capital
Number of
Options
Exercise Price
J Mellon 13,320,291 36.53% 86,230 23.2p
G Bailey 13,320,291 36.53% 86,230 23.2p
I Walters - - 428,786 35.5p
K Shah - - 364,666 35.5p
R Armstrong 64,635 0.18% 86,230 23.2p
R Armstrong 91,166 35.5p
C Weinberg 43,103 0.12% 86,230 23.2p
C Weinberg 91,166 35.5p
_________
26,748,320
_________
_________
1,320,704
_________
Note: options with an exercise price of 23.2p are exercisable at any time until 16 February
The offer will deffo go through if this does not get a counter-offer. This is because the offer is fully backed by the board, as always all offers are subject to shareholder approval..will be just a formality here.
When will this offer go through? Im deciding when to buy
Bidding war - but I’m waiting for this to go well over £1.50 - all imo
Superb news! Read the rns..if the Directors have negotiated a deal at over 250% premium of yesterday’s share price then surely its hugh..this could get even more interesting if a counter-offer comes in! Think about it if they’re prepared to pay this hugh premium then SALV then surely others would also be interested..gla
just sold my ffwd to buy in here, probably go down now
is it too late to buy in? When is this deal going through?
Jim Mellon is a director. Is this good news or bad news?!!
Is company chairman of SALV.
Another point to note .... is that the deal is regarded as a reverse takeover for all intents and purposes, so opens the door for Portage to be listed on AIM as the new name for SALV should they so wish after the deal is completed.
They also have US$7.5m in cash to fund further requirements, so no likelihood of a cash call in the future.
From my calculation this should be around £1.81 per share - way too cheap imo
Will see it towards £2 This week. Fantastic deal. Most will cotton on. 100% upside MIN on from current levels
This is crazy - should be 1.50 - 2.00 imo
Can anyone tell me if jim mellon is involved here in anyway?
Thanks in advance.
Valuation between 51 Million and £145 Million. Look at mkt cap SALV. Imagine a bidding war here. No brainner
Spread getting tighter. £1+ imminent. Should be £1.5/£1.75 with the whopping 250% deal announced today
90p on the ask. This should be heading towards £2