The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Good idea ! Maybe one we should all follow ?
Jes' sayin', like.
;->
Don’t speculate, wait for official RNS or AGM ;)
I imagine it's still at Loan stage, because any conversion into shares would be RNSable (increase of shares in issue) and in any case they have to give 5 business days' notice....from the 16th.
The facts.
So maybe from tomorrow ?
The speculation.
You also can't compare the SP price action to the cancellation of the CLN, the main reason for the jump between Jan and March will be purely down to Covid as they had one of the few ready tests that could detect COVID. That effected everyman and his dog across the world and would have driven more people than usual to invest.
"Investors need to understand that there is a risk of short term price suppression whilst the CLN agreement is in place. Obviously it depends on if Negma Group convert and sell or not. However, from their past CLN agreements they have sold down after converting."
Yes obviously, short term pain vs long term gain.
We are not a pharmaceutical company.
Hopefully negma is used as a stop gap and we get a rerate before any further tranches are drawn for acquisition or other growth purposes.
How many companies can you list that negma have been involved in?
We are not nyct regardless of if someone wants a positive or negative comparison. Nothing like em.
Every company is its own.
Sick of hearing every junior gold miner compared with ggp or every pharmaceutical compared with nyct ect.
It's nonsense talk by rampers or derampers
Is the Negma agreement now operative - ie do they have control of the shares under the first draw down?
The same jaknife who set his twitter to delete tweets arec24 hrs. Doesnt smack of trying to covering ones tracks at all. Ex does appear to change the tone of his messages between here and Advfn.
Q e lse where : ."but would ncyt have been able to develop and market their products without CLN. chicken and egg..."
Hard to say, pharma products are usually years in development. NCYT certainly got a lucky break with Covid, if you look at this s/p progression ( Negma's involvement being from April 2019 to Nov 2019.)
- Jan 18 58p
- Jun 18 57p
- Jan 19 35p
- Apr 19 23.5 p
- Nov 19 7.5p
- Jan 20 14p
- Mar 20 190p
No speculation, just facts.
The first time posted, this was reported and pulled.
As Jack N said ' Some people just can't handle the truth, son'.
Well Jaknife is Kevin Taylor one of TWs mates who is probably his money man. Also works for Rabobank. Forgot to add it to your post here Extrader but added to your Advfn post..
HTH
.."but would ncyt have been able to develop and market their products without CLN. chicken and egg..."
Hard to say, pharma products are usually years in development. NCYT certainly got a lucky break with Covid, if you look at this s/p progression ( Negma's involvement being from April 2019 to Nov 2019.)
- Jan 18 58p
- Jun 18 57p
- Jan 19 35p
- Apr 19 23.5 p
- Nov 19 7.5p
- Jan 20 14p
- Mar 20 190p
No speculation, just facts.
"but would ncyt have been able to develop and market their products without CLN."
---
Have you never invested in growth companies where SP is strong and straight placing is done and SP continues to move upwards? It is possible but on AIM or Standard Listings it is easier to go for the dilutive financing route which does no favours for PIs, hence why more risk in these types of stocks. It is what it is.
For comparison purposes, from the relevant NCYT RNS :
The Negma Euro 5m 3 year facility was pulled after 6 months [ a month before covid kicked off], when only Euro 2m had been issued, and replaced with a same -size €5.0m secured term loan repayable over 48 months @11 % fixed, with warrants for 8.5% of loan amount and a fee of 1.5% of loan amount.
I thought it was important to point out the facts. When you are invested it's easy to look at everything with rose tinted glasses.
Investors need to understand that there is a risk of short term price suppression whilst the CLN agreement is in place. Obviously it depends on if Negma Group convert and sell or not. However, from their past CLN agreements they have sold down after converting.
"That dodgy company that took a Negma finance option called NCYT is doing ok today"
18th Apr 2019 - Share Price was 23p before CLN agreement was announced
https://www.lse.co.uk/rns/NCYT/convertible-bond-facility-nvob6poi9h7lvrw.html
5th Nov 2019 - Share Price was 6.8p just before the CLN agreement was terminated
https://www.lse.co.uk/rns/NCYT/new-term-loan-and-termination-of-bond-facility-65l5tah2oby62ch.html
The day the CLN agreement was terminated - the SP jumped nearly 20%.
im all for it thtas what were her for multiples, until first IM this isn't moving
Jsmith23 and how many times did amazon do 1000%......started in a garage and now look where it is
When will we be able to hear the interview
SYME already had its 1000% rise lasts summer
To balance things if covid not arrived would nyct have flourished as they did and if not what would be state of play today we will never know but this grim covid certainly helped them i can only go by experince at hemo in last few months due to cln 75% down its been founded a mistake its been terminated but at a huge cost to lth all we can do is hope
"Today's RNS is a snapshot of information, being viewed in isolation."
---
Stevek, maybe/maybe not. The financing mechanism is (usually) the worst of it's kind by the likes of Negma and their ilk.
I took my chances hoping AZ would not do silly dilutions and we appear to have got exactly that.
Any share conversions at each tranche will happen at discounts and keep the SP depressed (and we have 10 tranches to work through).
Unless we get catalysts to re-rate the SP soon, LTHs will keep be holding paper losses as opposed to paper profits.
Furthermore, looking at the macro picture we could get another stock market crash in the Autumn, SYME will not be immune to further corrections.
Steve1972 - 100% agree - act in haste repent at leisure!!
Hallowed
Today's RNS is a snapshot of information, being viewed in isolation.
Why don't we wait on the rest of the information before we form a view.
We are not invested in NCYT, HEMO or anybody else.
SYME have raised finance to acquire TFC. We may be diluted, we may not be. CBs may be great for us, they may not be.
One piece of a jigsaw; let's wait for the rest of the pieces
"In April 2019, Novacyt entered into a convertible bond facility with Negma for a maximum amount of €5.0m over three years to support the planned growth of the Group."
---
Hmm....you forgot to mention the SP went from around 25p to 6.5p in that year...soul destroying.
I'm not saying it will happen here (as different terms/conditions) but Negma are hard nosed financiers happy to get profits at the expense of PIs.
It really is a tricky one - whenever a company has surprised in the wrong way (was hoping instead they arranged more favourable financing with one of their wealthy partners with a LT interest in the company - even a straight equity raise at a fixed price of say 0.4p could have been more favourable).
The one positive is that the SP did not drop today below 0.33p which held earlier this year and in Nov last year.
Failing major updates in next few weeks/summer, we most likely will see poor SP for extended period of time.
Hope I am wrong about the latter.
.." Novacyt entered into a convertible bond facility with Negma for a maximum amount of €5.0m over three years to support the planned growth of the Group. .."
This isn't the full picture, though.
It looks more likely that Negma was a last-ditch financing by Novacyt that it jettisoned as soon as it was able to.
https://www.bloomberg.com/press-releases/2019-11-06/novacyt-s-a-new-term-loan-and-termination-of-convertible-bond-facility
.."("Novacyt", the "Company" or the “Group”), an international specialist in clinical diagnostics, announces it has agreed a €5.0m four-year term loan. The funds will be used for the repayment of certain outstanding loans, working capital and the immediate settlement of its entire convertible bond facility.
This new debt financing of €5.0m (€4.9m net of fees) has been provided by Harbert European Growth Capital (“HEGC”). These funds will be used to immediately reduce certain balance sheet liabilities and provide significant working capital for the Group. The funding also means that the €5.0m convertible bond facility provided by Negma Group Ltd (“Negma”), announced on 23 April 2019 has been terminated. Of the €2.0m drawn down to date, €0.7m was unconverted and will be redeemed in cash. The remaining €3.0m of the original facility was not drawn down and has now been cancelled.
Termination of Negma convertible bond facility and cancellation of warrants
In April 2019, Novacyt entered into a convertible bond facility with Negma for a maximum amount of €5.0m over three years to support the planned growth of the Group. The Company has drawn down €2.0m from this facility with €0.7m of
this amount remaining unconverted into equity representing 278 notes of €2,500 each, which includes 74 notes issued to Negma for the arrangement fee. Under the termination agreement, the Company has made a full and final repayment of
€0.9m to Negma, including redemption premium, to redeem the remaining unconverted notes. Furthermore, the Company confirms it will not make any further draw downs against the Negma convertible bond facility.
Pursuant to the termination agreement, Negma has cancelled 1,300,000 warrants, with an exercise price of €0.22 per share that were granted to it by the Company when it entered into the convertible bond facility (the “Cancelled Warrants”). This provides the Company with sufficient shareholder authorities to fulfil the terms of the warrant agreement with HEGC. Negma continues to hold 1,679,544 warrants (the “Remaining Warrants”) which expire in April 2024. "
The Negma Euro 5m 3 year facility was pulled after 6 months [ a month before covid kicked off], when only Euro 2m had been issued, and replaced with a same -size €5.0m secured term loan is repayable over 48 months @11 % fixed, with warrants for 8.5% of loan amount and a fee of 1.5% of loan amount.
I don't think this helps your case.
IMO