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Casapinos - I would agree that Major US Investors are already easily able to buy STX, should they wish, but the OTCQX listing will make it easier for US Retail investors to buy - and this is not an insignificant chunk of cash !
Having said that, it's worthy of an RNS but hardly a big deal - It's a well trodden route by many growth shares in the UK and it comes as a surprise to me that a share like STX didn't already have a US OTC ticker.
CEO was on V O X markets yesterday re US OTC launch. He mentioned US launch a couple of times. Comments were 'in a few weeks' and 'soon', i think, so we are definitely on track.
We know we have a tie in with Iqvia which hasn't been RNSed so i fully expect a formal progress update later this week, as advised (mid May).
Incidentally launch will be starting to sale, not revenue generating, we might need to wait a little while for that
The OTC listing is a sensuble move when launching a business in the US, alowing US investors to buy at a time when the company is about to embark on a major marketing push in the US. Note that it is the full OTC best market also.
GI20 As a holder who does research on all my investments and generally posts news whether positive or not , I have concluded that the OTC action is window dressing or , on reflection overnight, is at best a way to allow the newly appointed US employees to buy in , or maybe receive nil price options and to trade them . I see no likelihood of major US investors driving the price up via OTC.
Of course its a benefit to allow US to buy shares - how could it not be? Lets be honest - when this takes off do you think Shield is really looking at the OTC? Zoom out..
Been doing a bit of research on the latest RNS and TBH it's not very impressive. I assume you are all aware that OTC means "over the counter" ie trades are not on an exchange rather they are person to person or entity to entity . So it needs a willing buyer and a willing seller and there is no " market maker "as such . Given that I assume almost all of STX holders are UK based , the only way trades will occur in the short term is if a UK based entity wants to sell and receive dollars rather than pounds in return. I fear that the whole exercise , while probably inexpensive for STX is little more than window dressing, or at the kindest a very preliminary action which may benefit liquidity some years down the line. The only trades with significant volume on OTCQX appear to be crypto related and I am far from convinced of the merits of the exercise.
BearGrylls, you sound like many a corporate financier I have known. LOL.
But ...why fart about with a listing in the US then, if no launch. Cart before horse. Tim has very little to do it seems, other than fiddle about with company structure etc. Perhaps he should drop down to less than 5 days a week, take a pay cut and stop getting such privileged access to heavily discounted capital raisings - and just chill a bit more.
Jim, they've not even launched in the US yet. End of Q2 is June so you have 6 more weeks until we even launch.
Chill out and have some patience.
Tim constantly fiddling with the finance stuff, reflecting his background. WE WANT SALES. Stop partying with smarmy corporate financiers Tim, and get selling.
Sensationally underwhelming interview with the exception of re-iterating the "by end of Q2 21" launch commitment . This is now fundamental ,to offer that date on 17 May and miss would be catastrophic for confidence, ergo we must assume that it is a near- certainty or the company's SP is toast .
https://www.proactiveinvestors.co.uk/companies/news/900636/shield-therapeutics-takes-us-listing-as-it-prepares-for-american-launch-of-accrufer-900636.html
Proactive write up and interview with super Tim. Q2 US launch reiterated
There is a 2nd part to this in my thinking...
At some point they are likely to want more money so along with the reasons they have given in the RNS, they are setting themselves up for an eventual joint-listing on NASDAQ if commercialisation proceeds satisfactorily as that market would be far more welcoming of a funding round. For shareholders the benfit would/should be a rerating upwards when that happnes if One checks out comparators.
Exactly my thoughts plus extra demand will help to underpin SP. Volume plus Momentum are key. News will come!
it is a (small) step in the right direction.
We wouldn't be listing in the US if we weren't selling their in the near term. Hopefully this will be confirmed later this week.
We want revenues, not more share liquidity.
today on the OTCQX Best Market ("OTCQX") in the United States, under the ticker symbol "SHIEF".