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Hi EP - Circa £121 for me.I am with Interactive Investors & I am now waiting for the instruction to authorise the change of shares into the new company.Hey ho. PS I hope my holding & not selling will be worth it.
3 cents per ADD => circa £70 for me ?!
Not overly happy that I’m having to fork out for the pleasure of the company relocating the company ...
Anyone following todays meeting's outcome.
'On 19 August 2019, Summit will hold a Court Meeting at 1:30pm BST followed by a General Meeting at 1:40pm BST to approve the introduction of a new US-incorporated holding company to be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006. Below, you will find the Scheme Circular and supporting documents.'
PS: I have heard that to transfer our ADDS will cost us 5 cents an ADD.
Hi EP - So good to see a positive RNS I had given up any hope but it is positive news.At present there is no 'Pre-Market' activity moving the SP from last Fridays close of $3.08.
It is certainly good to have had peer review of the Phase 2 C-Diff trials lets hope for positive market reaction.
At last, good news :)
Beating the current industry standard against CDI by a far way!
Fingers crossed that the market should like this
GLA - EP
Hi EP I am fine thanks but share your sentiments & yes the SP has dropped but made a small climb back recently.I think we will have a better idea when we see the half year results I guess next month when they will publish the trial numbers registered.
Been a little anxious myself watching the SP fly around the place at the moment.
I sincerely hope that 2021 is going to be our year and that all their hard work bears the fruit we want, notably for CDiff.
Hope you're keeping well Chris.
The following was a reply I had today having sent Richard an e-mail this morning with questions about the AGM.For me it is the end of an era & somewhat sad.
Not sure where this leaves us UK investors?
From: Richard Pye
Sent: Fri, 3 Jul 2020 11:25
Subject: Automatic reply: Summit AGM
I have now left Summit. For investor related enquiries, please contact Michelle Avery (firstname.lastname@example.org). For other enquiries, please contact switchboard on +44 1235 443939 or email on email@example.com.
I note that SP on NASDAQ rose last night 9.57% to $3.55 being 57p old money on current exchange rates.
PS: Is anyone tuning into next weeks AGM & has anyone voted yet.
Link for AGM & 11 months accounts
PPS I note there was no Bonus for Glyn as targets not met there was a payment of £2,000 being for 'Short-term incentives'.
Agreed with the concern.
Summit as a whole including Discuva - a long shot.
My concern is the hold up on rolling out the recruitment & the requirement for funds this year.
Sell off the CDiff work?
Or Summit as a whole, including the Discuva?
All well here thank you
Looks like the market currently likes today's RNS NASDAQ currently up 1.7% rather than what has been a gradual SP reduction since last weeks 1st Qtr's results.
Edit: Thinking about EP's post it could be that Bob Duggan could be looking to Sell on positive phase 3 results for C-Diff next year.
Hi EP - I do not think that Bob Duggan is looking to be taken over it is something he does but not something that is done to him.The appointment is to add credibility to SMMT on the NASDAQ for the next fund raise which I expect by the end of Qtr 3.
It is disappointing about the C-Diff drug trials but having sold 50% of my shares at a 50% loss I am now going for broke & waiting to next year.
I hope all is ok with you in Paris.Regards.
The new FCO has overseen previous takeovers
Are we next?
Keeping well thanks.
After the 80% drop nearly 2 years ago ... I quietly walked away from AIM for a while to think about what I should perhaps have done differently over the years (not just here, but for my whole portfolio) ... then with the delisting, I transferred everything to NASDAQ and patiently away $6 to get back in the black (assuming it's still a 1:5 + £:$ exchange rate, calculation), at which point I will see what's going on ..
I have been having a look at ADFVN here and there and saw that someone had had the smart idea of investing whilst the SMMT shares were cheap in the UK prior to the US price explosion ... clever!
I hope it will find its way and the CDiff and Discuva be of use to people.
I was bitterly disappointed with the DMD stuff having followed it for so long and seen what the kids go through. Especially also after the optimism from the famous 24 week results
And of course Glyn is NED now ...
Fingers crossed! Otherwise all in Paris remain 'fun' with the confinement; although it's a little better than the UK have it currently
Good to hear from you
Hi EP - Good to see your post - I posted the item below yesterday on ADVFN which may also be behind the SP surge.
'Summit on the move again on the NASDAQ possible assisted by the following article:
Edit: I hope you are well for me I sold 50% of my stock in April at a 50% loss in order to pay off my car loan on my new Golf clearly should have waited but will now hold my remaining shares 5,200 ADD's until next year now going for broke.Regards. PS Hoping my INFA shares will start to rebound soon.
I did wonder myself.
This got released yesterday: https://newsfilter.io/a/43d525d90d3c0c82b543ef9af3f7a7a6
Appears to be:
"An S-8 filing is an SEC filing required for companies wishing to issue equity to their employees. The S-8 form outlines the details of an internal issuing of stock or options to employees similar to filing a prospectus".
So perhaps news on the horizon for which SMMT wishes to have its staff benefit from?
Positive report yesterday seems now being reflected in Summits resurge on the NASDAQ today:
Summit Therapeutics PLC (SMMT) Gains As Market Dips: What You Should Know
May 06, 2020, 05:45:16 PM EDT By Zacks.com
'In the latest trading session, Summit Therapeutics PLC (SMMT) closed at $3.11, marking a +0.33% move from the previous day. This change outpaced the S&P 500's 0.7% loss on the day. At the same time, the Dow lost 0.92%, and the tech-heavy Nasdaq gained 0.51%.
Investors will be hoping for strength from SMMT as it approaches its nex t earnings release. On that day, SMMT is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 60%. Our most recent consensus estimate is calling for quarterly revenue of $2.84 million, up 787.5% from the year-ago period.
Any recent changes to analyst estimates for SMMT should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 26.26% higher. SMMT is currently a Zacks Rank #1 (Strong Buy).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.'
To follow SMMT in the coming trading sessions, be sure to utilize Zacks.com.'
Hi manversushorse - I was in the same situation as you all you need to do is complete a crest form transferring the shares from Link to ii at which point you then need to move onto the NASDAQ but you have missed the boat when all our shares were moved over at the same time at no cost.
I suggest that once you have the shares with ii ask them how to move to the NASDAQ for which they have the experience also you may wish to seek assistance from the Investor relations representative at Summit.
Good luck any problems post another message.
Has anyone else had issues transferring their shares? I had to close my account with Barclays as they don't deal with Nasdaq, so I've now got a physical certificate (ordinary shares) issued by Link Asset Services. I've opened an account with II, but they claim Link need to initiate the transfer to my account. Link on the other hand insist that I need to initiate the transfer with II, and neither side will budge. If anyone has any ideas, that would be much appreciated!
Market seems to appreciate Robert W. Duggan taking over from Glyn Edwards as CEO.
A proven winner at last taking over from a proven failure who took the share down from 200+ p to below 20p.
Summit up 28% today to US $4.20
Summit Appoints Robert W. Duggan as Chief Executive Officer https://t.co/Z0G1IViCmE
"Oxford, UK, and Cambridge, MA, US, 14 April 2020 – Summit Therapeutics plc (NASDAQ: SMMT) today announces that Mr Robert (Bob) Duggan has been appointed Chief Executive Officer (‘CEO’) of Summit Therapeutics, effective immediately. Mr Duggan will retain his role as Chairman of the Board. Mr Duggan will serve as CEO without compensation as he is Summit’s leading shareholder.
Mr Glyn Edwards has tendered his resignation, which will be effective immediately."
Good progress up 23% today to US $3.28
1 month rise 42%
3 month rise 85%