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Porky9,
The Cenkos warrants are from a prior year's share authorisation... many more shares can still be issued. They have 20m that they can just issue, 10m more for shareholders, 4m for Cenkos and 6.5m for employee rewards. More than 40m more can be issued without them even asking for more authority.
It seems greedy to have used the prior year authority at the same time as saying that they only wanted authority to issue a modest number of shares as any more would not be fair to shareholders. Suzy did tweet:
"The same resolution as we requested last year - it’s normal for companies to have a small pot of headroom authority in case it’s needed during the year. We keep the level low with anticipation that if we wanted to use more we should be asking shareholders at a GM first."
https://twitter.com/DillySuzy/status/1534270086827081728
Attracting someone of the calibre of Dame Louise Makin ( ex ceo of BTG Group) as a non exec would tick many boxes-brilliant track record,a lady,extremely well connected,would help enable Suzie to be more ruthless,could buy a stake if she buys into the plan & her addition would probable encourage a very sharp recovery in our SP
@SI
It’s scandalous alright but they still did it AND moreover using last years resolutions so nothing whatsoever to stop a follow on issue for further funding with issue of an additional 20m shares if they wanted.
For the record I have no desire to see the SP fall lower than 10p my 400,0000 shares are now worth 40k If iI knew back then what I know now, I would have sold the bloody lot at 35p and buying 1.4m of shares now in this placing but I’m not.
You do what you do best, I want to see board additions. If the price climbs and I buy in higher later so biet but I take take nothing for granted, I’m I impressed Adam is increasing his exposure but I don’t want another year of the same. They strengthen the board and as I say I’m in boots and all
GL
Couldn't agree more, Southern. Lower than a snakes belly is Porky pie. Just ask the 4D SH's he sold down the river
@Porky9 it’s really very simple. Valirx are fully funded. They are confident the deal will be done and have examined Thx progress. Besides 201 many opportunities are likely for success. Remember what you said a few days ago. Lots of good news will come beyond this fundraise. That’s the case IMVHO. Under 11p is scandalous and so are you.
@SI
Jeeze, the board is here to discuss the dam stock
Do what you like with the information, debate it.... If i'm wrong say so and why???
@Porky9 deramping or ramping as per usual dependent on your position. You really are a piece of work. Sitting on the sidelines, letting the dust settle, blah blah blah. Yet posing intensively. Under 11p fully funded this is a steal and you want it lower. Ridiculous.
@rhubarbmk2
Thanks for taking the time out to reply with your thoughts, especially as you are not well at the moment.
Can you encourage them to ADD at least 2 if not 3 additions to that Board?, we can not continue with this as the Kevin and Suzy show, you don't know what you don't know and by god they are making some school boy errors here. They are not seeing it. ANY strategy, decisions, new agreement should be properly debated round table before implementation.
They do that and i will be in boots and all, until then we cant have a continuance of same.
Agree with everything you’ve said Adam. But the key point is that ‘something needs to be delivered in next 6 months’. Basically, that really needs to be 201 and we have no feel for this as THx blocked Val from indicating how far through their fundraising they are.
It's currently an attractive prospect for me at 10p, and I have asked to partake in the open offer. MCap of <10M, with up to 2.5M in cash is a fairly rare phenomenon. That being said, the lack of delivery is now reflected in the SP, and that is why we are where we are. It’s as simple as that. There have also been inconsistencies in communication. I point, as an example, to the 5th January 2022 RNS, with a statement of “This Service Agreement enables ValiRx to work as a consultant to TheoremRx and will receive market rate, fair value consultancy fee, invoiced each calendar month until the termination of the Service Agreement”. As payments have not thus far been received, it is economical-with-the-truth statements like this which make many good people state to me that the BOD “lies”. I’ve heard this too many times, and with a level of communication as good as Suzy and the team, this should not be the case. I personally think that Suzy executes her best efforts, and in good faith, so that’s why we need to bring these things up, and rinse them out publicly, as and when they do occur. It’s sloppy, and those more experienced BOD members around her need to keep their eye on the ball, and be sharper. They also need to be given a strong voice, as, as appealing as Suzy and Kevin are as a team, it is simply unhealthy if they are making all the decisions, in isolation.
So, in summary, it’s been a torrid couple of days for many, and for others, longer. We are not bankrupt, and actually, plus rather unexpectedly, look fairly healthy from an investment stance. However, good will has taken a severe beating. Trust has been lost.
I fully support the BOD to continue on. In my view, the injuries are not fatal, but they are still very open. I think there’s some savlon left, but there aren’t a stack of boxes left.
In fairness, the BOD do understand that a BOD position places me in a tight spot; notably when it comes to restricting my ability to stick up for shareholders and discuss issues publicly. So it’s not just a case of not wanting the input. I have to say that.
Kevin apparently likes my “penetrating” challenges. I will try my best to bring them. For anything scientific, Suzy also knows, and is always happy, to chat with me about that.
That doesn’t mean, however, that I cannot contact them with investor “advice”, and that comes free-of-charge, starting today ?
The page was turned to a new Chapter yesterday, and with that, added expectations of the BOD. Soft targets have now become hard targets, and these must be delivered upon.
I will speak to Kevin about his “buy-and-build” strategy at the next live QandA, as I have done my own calculations for four companies; likely value adding capabilities; simulated SP at each inflection; expected revenue; and expected addition to the Market Cap. It’s a great strategy (along with the new candidates). However, in my view, this is not practicable to commence at 10p; hence my comment yesterday that something has to be delivered, based on the current assets, the new assets, and potentially up to a 2.5M kitty, in the first instance, and within the next 6 months. This will ensure that, whilst there is plenty of money in the kitty, with absolutely no danger of it even beginning to run dry, other options are still viable and open at the end of this time-scale.
I would also say here that, although I respect the Company for putting out the RNS before the AGM (even though they had to, to use “last year’s” allowance), I found self-congratulatory comments on expertise; having just lost some people half their paper assets, somewhat tone-deaf. That was not the place, and certainly not the time, to be patting each other on the back. It was time to take ownership, and admit that, although events may have conspired against you, you hold your hands up with a little humility. You can defend yourself robustly, without alienating a majority of your retail shareholders.