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Yes, agreed!
1971bod
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?
https://thecse.com/en/listings/life-sciences/portage-biotech-inc
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?
thanks.
Jarcon
Link: https://www.salvarx.io/about/about-salvarx-group.html
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,
Suite 2000,
Toronto,
Ontario, M5R 2G3
CANADA
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$10,708,525.08. This equates to £6,189,898.8901734 or, effectively, £6,189,898. At least, I think that's right.
Quint, the number of shares that SalvaRx have is, according to their own information, and to that on the Portage Biotech Inc. website, 97,350,228 shares divided by 757,943,784 shares - which = 12.84399055% (almost 13%).
TBH. It’s whats going to happen with the shell that will bank us the cash.
I’ve searched back through the RnSs and the last 2 state the same figure. Around £4.65 m worth Yes you’re right it does say on there around 1m shares. I think the RNS is the one to calculate. It would be nice to be proven otherwise as the more we hold the better for us.
I hope you’re right Quint, the more Portage Biotech shares SalvaRx is holding the better. I got my figures from the 08/01/19 SalvaRx RNS. There may be something I’ve missed. It states they have retained 56 million Portage Biotech shares, then worth just under £4.65 million.
I hope your right Quint, the more Portage Biotech shares SalvaRx is holding the better. I got my figures from the 08/01/19 SalvaRx RNS. There may be something I’ve missed. It states they have retained 56 million Portage Biotech shares, then worth just under £4.65 million.
Thanks for sharing the calculation. And if we divide £8,884,198 by 37 million issued Salv shares we get 24p .... around the current mid of a very wide spread. I dipped a tentative toe in at 22.4p a few days ago, hopefully a good decision. On any reasonable news this should rise abruptly although it might be a while ...
QF
Quint. Did you say that SalvaRX holds around £10million worth of Portage Biotech shares ? At its current price I calculate it to be worth around £4.8m at 0.11US$. I also intend to hold these long term. Both Portage Biotech and SalvaRx have so much potential.
Hello again, Quint!
Thanks for your reply! Just one teensy question - when you wrote in your reply "woukdnhave", is that "would have" or "wouldn't have"? I'm just a bit confused by the "n" in the middle of the word and that you may be writing in some kind of Scottish dialect or something! Which is it, please? I suspect it's a typo because the "n" is very near the space bar, but you never know!
Just spoken to H-L and they are not able to trade Portage, as not in Crest. They are in the process of setting a third party dealing situation and will advise when this has been completed. Not clear on timescale but sounded like it could take a while. Lets hope for some positive Intensity news in the meantime!