Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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Yes that's the latest position I think, plus the comments during last night's call.
From http://www.accustem.com website - not sure how current/recent this is - site still under construction
"It is expected that the Accustem Shares will have a standard listing on the Official List and be admitted to trading on the London Stock Exchange. A process is underway to seek admission to the standard segment of the Official List and trading on the London Stock Exchange. It is expected that Accustem Admission will occur during Q1, 2021."
Sanity from Rokerpark68. Excellent summary.
Yes it certainly is frustrating and was probably avoidable. But there we go.
Cheers
Roker, top comment. All very frustrating though!!
There is no choice but to be patient if (like me) you hold an Accustem entitlement. The Shareholder Circular for the demerger was quite clear that once demerged Accustem would be unlisted and illiquid for some time. I said at the time I didn't like this approach, as the Board could have elected to IPO Accustem straight out of TILS and raise new funding for it at that time without going through this clunky unlisted phase. Given the uncertainty and complexity around listing of early-stage companies, especially with a UK/US angle, it's not really a surprise that the listing of Accustem is taking longer than anticipated in the Shareholder Circular (the original target was the end of Q4 2020).
The Board will have had their reasons for going the route they did, with several of these having been speculated about on this BB (including by me). The fact is, the current position was always a possible scenario given the careful wording of the Shareholder Circular and now we just have to wait. We surrendered any leverage over the Board on Accustem when we voted for the demerger on the terms outlined. Yes there are timing delays, but we don't have any "recourse" to the Board for this given how the Shareholder Circular was drafted.
Anyway, no doubt Accustem will be listed or sold before too long, but at what price I have no idea, and I never really have. We may get a pleasant surprise. We may not. Once it was demerged TILS no longer had any legal obligation to inform the market about developments at Accustem - it's legally separate. One thing is for sure, that without the rapid TILS share increase in May /June last year as market excitement built regarding Accustem, TILS would not have been able to do its $57 million fund-raising which underwrote the continued development and acceleration of its therapeutic pipeline. This price rise was mainly due to Accustem, not to TILS being seen as a "COVID" stock. This was obviously good for LTH of TILS like me who have put TILS in the bottom drawer as a potential high-risk/high-return investment - and I just can't be bothered to watch the share price gyrations because I don't need to given how I have sized the holding. If it succeeds, fantastic. If it disappoints, one of my other higher risk holdings will probably make up for it.
That the TILS board is over-stretched and dominated by the major shareholder, GC, has been a known for a long time. There isn't going to be any real governance overhaul here, which will obviously all be forgiven if Accustem and TILS deliver their products/pipelines, whenever that may be.