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You can look at it 2 ways I suppose, no need for him to spend 15k if he doesn't need to (the original RNS doesn't contain a time limit for expiration) so why would he or secondly its a terrible signal that he won't pony up 15k to take ownership of a stake in the company!
Re the CEO i am in 2 minds. I think he was honest and told them where Accrufer was it would take 2 years to get traction. They only had money for 1 year so expected him to focus on certain aspects to get the best uptake - don't forget they have identified 100 clinicans who prescribe 1k of iron supplements a year - so 100k between just those 100. Get these lot using Accrufer and maybe 25% could be switched to a better tablet - that's 25k prescriptions alone.
After 1 year and a slower than expected uptake he has told them it would take 2 years!!
Having said that we have no plan B so we do need him to stay.
Reading the RNS it states he has 0 shares - yet he had an option for 1m on 1/6/22 at 1.5p for remaining in his role for 1 year. When i enquired with IR if the RNS was incorrect they stated the options are vested, so he can 'buy' them whenever he wants. He has so far chosen not to do so. Read into that what you wish. I have never seen a BOD not taking up options that are less than 20% of the current price.
Dave, he only has to stay in position for 1 year to get half and 3 years to get the lot. There is no performance element
Sounds to me like he has gone to the board and said you handed me a mess that was much worse than you described. Give me stock or I'll walk.
Fair enough, its a result of what the board let happen before he arrived but I would have been more impressed if there was an additional performance element so investors can have sight of what the BOD think the company is worth. All this says to me is if he walks we are finished.
I came to the same conclusion as Agricore & sold out on the basis that I was willing to jump back in. Good to see SP moving in right direction.
FWIW Harman talks about doubling rep numbers, Madison hopes the 10 new reps will be more effective than the last 10 and comments about under resourcing presales promotion so I am still not convinced the available finances can tap as much from Acufer as distributing through an established network of a partner that might also have economy of scale in providing promotion as well.
At least he's got to perform over 12/36 months though to get his grubby mitts on it.
Madison already 100k up on his options. If only it were so easy for the mug PIs
Curious comment. Maybe too much RW ?
will soon be the same thing
PS it's $10M not £
10M loan becomes irrelevant if they pay it back before December 2023. How do they do that ... rising rx in US should do it at full premium. Millions more lives covered since last update, as it has appeared on at least 2 more registers I have seen.
How about here's a Japan deal with x million upfront (their authorities might even take the word of it over another P3 with luck). Here's Norgine with Spain/Italy and France on board. New Zealand and Australia was last reported to be on a similar path as the US. The loan is a safeguard by a long standing holder wanting to see the company flourish, not bury it.
This is being pedaled by derampers and shorters alike. Most should get wise to that.
Agricore is spot on with his assessment of the £10 million loan against the USA IP….
Mr BB - interim's are not overdue - came out 17/8/21 and HPR stated he was aiming for a similar time this year in the last presentation.
Can't help feeling it was all a staged chain of events once GM incentives were revealed. Rising US rx Q2 and Q3 50% underway with extra, experienced sales force fully active. Q3/4 could be huge with millions more lives now covered.
GLA.
I would love to be convinced. But if there were "another buyer offering an attractive premium" wouldn't that have already happened? Was the $10m loaned to STX at an "attractive premium"?! I'm sorry but the terms of the loan felt to me like a last chance saloon.
I maintain the assertion that the maximum downside might not just be a 2p drop from here. I have shown how that may not be the case.
Good luck to holders and I do hope STX prospers. I will watch and hopefully get comfortable to get back in.
Don’t really agree with Agricore, but everyone has a right to their own opinion.
I also believe as per the interview, that in the worse case scenario this will be snapped up by another buyer offering an attractive premium. I’m holding as long as practically possible.
The Hardman analyst misses (or ignores) the crucial point that the $10m loan is secured on the US IP rights of the company. In other words if further finance cannot be agreed in 4.5 months then Accrufer is limited to Europe/Asia.
The analysis is that Europe/Asia is potentially worth 15p a share. And that further assumes just a 3x dilution.
At a 6x dilution it's at or slighly above fair value today.
I previously sold out at a loss here at 14p - and was glad I did. The calculus presented does hold potential upside but be aware of risks not properly considered in that promotional interview.
GLA
Interim overdue
Interview on Director Talk website at 6m last night.
Shield Therapeutics plc (LON:STX) is the topic of conversation when Hardman & Co Analyst Dr Martin Hall joins ************* Interviews.
Bit of a pop in the price today on a fair volume of which there were some reasonably sized buys.
Anything cooking on any front anyone, any news due, any US stats, or do you think it's been tipped somewhere (other than down the loo as we've been used to of late...)