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Looking on companies house, SKYGEM have only 2 people registered as Directors running the company
Director 1, SHEN. Zheqing (investment banker)sole shareholder of ZQ Capital investments.
Zheqing Shen serves as Independent Director of the Company. Mr. Shen is the founding member of ZQ Capital Limited, a boutique investment and advisory firm. Prior to founding ZQ Capital in 2015, Mr. Shen was managing director and head of the China Financial Institutions Business at Barclays from 2011 to 2015. From 2004 to 2010, he worked with Goldman Sachs as an investment banker in its New York and Hong Kong offices. In addition to his service on our Board, Mr. Shen has also served since 2016 on the board of directors and the Audit, Remuneration and Nomination Committees of KFM Kingdom Holdings Limited, a precision metals engineering and manufacturing company that is listed on the Hong Kong Stock Exchange. Mr. Shen has a B.A. in mathematics and economics from Wesleyan University.
Director 2, YUAN Kai is also a director of another major company
ZQ has been forced to make an offer for all of our shares, but at just 1p each. However, Southern Fox also has a large holding and says it will not be taking up ZQ's offer. So the ZQ takeover cannot be forced onto everybody.
I wonder if Southern Fox will now make a counter bid.
Where is this going to go? In 6 months do we see a massive turnaround?
SkyGem announces its firm intention to make a mandatory offer for all outstanding Allergy Therapeutics Shares, as required under the Code as a result of completion of the Equity Financing.
Fingers crossed we all get some good news soon on the back of a very poor year.
I did. My holding was fairly small, so was my option was only for 60k shares.
Not sure if I'm throwing good money away but for the cost thought it was worth one last roll of the dice!!
It's difficult to believe things could get any worse with this business but who knows!
Are any holders taking up the Rights Exercise ?
This morning's announcement and opportunity to take part in the offer is the first step towards getting this company back on a good footing. Re-iterating my sentiments in the last post 19 June I intend keeping my investment and adding, even it goes private. Nothing is guaranteed but today's announcement is reassuring to my mind.
Hopefully sell to one of the big boys soon, seem to have lost its way
However, there is a risk that up to £13.6 million cumulative revenue recognised in respect of certain products in periods up to and including 31 December 2022 may be reversed due to the level of rebate being applied.
… some people need to be in jail … unbelievable
Been in the side line since so dropped significantly, and stopped trading, started looking again as it seems worst is over and recently sp picked up , however, still some uncertainty and potential another round of fund raising based on below in the June report; I welcome comments from anyone with who has done some more research?
“Notwithstanding the recent loan funding and planned equity refinancing of the loan, the Group expects that additional funding will be required from around September 2023 onwards for trading, working capital, capital expenditure and continuing R&D programmes. Discussions have commenced with certain shareholders on providing additional funding; these discussions are at an early stage with no binding arrangements but have been positive.
Can I put a bet on a form 8.5 to land tomorrow? Hahaha!!!
Long way to go
This is moving on the cnbc ticker,....but not lse atm
BoD now need to start communicating better and to start with clarify current position with the major shareholder. SP has been smashed already…now is the time to get grip!
There is a huge and global market for their products once through approved, phase 3 well underway and so it’s very promising see June RNS. So we are closer than ever before, the doombusters are out in force all week but they do not understand the significant value here.
Major shareholder fully supportive here since over last 4 years. Appears the BoD need replacing?
Extract 6 April RNS..
Skygem has been a shareholder in Allergy Therapeutics since 2019, having made regular acquisitions of Allergy Therapeutics Shares and supporting Allergy Therapeutics' fundraising in October 2022, such that Skygem now is interested in shares representing approximately 25.58 percent of Allergy Therapeutics' issued voting rights. Throughout its tenure as a shareholder, Skygem has, and still holds the belief that Allergy Therapeutics has the potential to become one of the most prominent allergy immunotherapy companies globally, and accordingly, has sought to be supportive towards management in the strategic ambitions of Allergy Therapeutics, including advancing Allergy Therapeutics' products into the US market.
All down to G306 trial, but 9th June RNS states this seems to be progressing quite well…
Among its nine posters being presented, Allergy Therapeutics will share:
-- Further clinical and preclinical studies on biomarker strategies, patient responses and the mechanism of action of allergy immunotherapies. Part of the data is derived from the positive G309 exploratory field study which evaluated the efficacy and safety of Grass MATA MPL, the Group's short-course subcutaneous allergen-specific immunotherapy (SCIT) candidate to address the cause of symptoms of allergic rhinoconjunctivitis due to grass pollen. These findings supported the design of the ongoing pivotal Phase III Grass MATA MPL G306 trial, which is on track to report interim topline safety & efficacy data in Q4 2023.
Obviously I am not happy with what has happened here but I am not rushing to sell. It seems the worst scenario is 1p per share in a mandatory sale of my shares. However in April they said that in addition to the 3.385 billion new shares to each of ZQ Capital and Southern Fox under a share subscription at 1p each......."it also plans to offer existing shareholders, including ZQ Capital and Southern Fox the chance to buy up to 689.5 million new shares at the discounted price under an open offer. ZQ Capital has agreed to underwrite the open offer and subscribe for any shares not taken up" I wait for further information on this as it may be a way of getting more shares at 1p and staying with the company, even if it goes private. Admittedly trading in private company shares is not as easy as when listed but if the company turns itself and comes back to the market the gains could be substantial. ZQ Capital and Southern Fox see potential and if the open offer to existing shareholders comes I see an opportunity. I have been with a listed company before that went private, decided to keep my shares, remain with the private company rather than take the cash for my shares, and more than doubled my money when they relisted. Not saying this will happen here but I do not see this totally negative yet so wait for further information.
Yes, reading through the announcements there remains a very big question mark over AGY's future. Very sad to see the company in this position after demonstrating so much promise previously. I exited in the 20s but that was more luck than judgement.
Allergy Therapeutics PLC Interim Results and Lifting Suspension in Trading
To THINK I USED TO TRADE THIS AT 20P PLUS DISGUSTING what has happened here . CEO need to go
I advise everyone to vote against this deal. What a shame. My opinions only but I for sure will be voting against. Absolutely nothing to lose.
Might one of the worst thing I've seen happen on the AIM
How can you go private at 1p just madness
Ouch, that is painful. Truly horrendous management. I'm glad I sold out before the share got suspended. That was a uncomfortable loss, but not of the magnitude that this is going to. This will go private, and shareholders will be left with very little, 1p at best
It’s disgusting - a great little company but run to the ground. What a rubbish and ludicrous deal. I’ve never seen something so awful in 20+ years. A typical Private equity stunt - CEO should be fired in my opinion as should the CFO. Greed greed and greed bleeding the incompetency of management. Of course the news about NatWest (highly leveraged) does not help in getting the revolving credit line. My opinions only ofcourse.
Small investors wiped out again going to be lucky to get more than 1p a share
I thought all AIM listed companies should publish accounts within 6 months of the year end which was last June?