The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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The AIM, is the vehicle that is the cause of this decision.
A vehicle for crooks who wear ties to manipulate company share prices. The board, and the boards of many companies on the AIM are in the same boat. Yes, some boards are of the crooked variety too, but most BOD's take a decision with a viw to growing the company only to see the share price rise by 20 - 30 % on a day and then slowly retrace a further 50% or so!! For me, the RNS spells out this frustration - the perceived under-valuation.....
From the RNS.
......the Board felt it was necessary to address the perceived under-valuation of the business in the public markets and the potential inability to access the future funding that the Board believes is required to allow C4X to flourish as further explained below.
You will say 'They are raising more money!'
Yes, but if were raised at 'fair value' it would be sending companies into a slow death spiral.
I have noticed a few takeovers lately, some being over a 100% increase on the market value! Plenty being not far behind.
I plan to stay with it, and see what the BOD can do when not swimming with the sharks.
GLA - whatever your decision.
Danno
Just sold mine for 9.55p via Barclays. Unhappy about the proposed delisting.
Personally the last 20 years, have been dire when it comes to AIM , should be scrapped, ots for savvy crooks, to steal hard earned money, to line their own pockets.
The minorities will get nothing out of this. The concert party should have bought out the minority with a bid then delisted. Makes you wonder about the future of AIM.
Can’t sell anyway
If you really need to ask that question, then I suggest you amend your username
Why sell?
Sold out for 8.55p. A bit better than expected, but a painful one given my average was 24p. £ thousands more p!ssed away. Not a good day
An announcement to try and provider greater returns for existing shareholders does the complete opposite.
This needs stopping.
Exactly JCEP. Opening price of 7.5p
Griffiths, Polar and Lombard will be picking up all cheap shares today and hence will get 75% so the resolution will pass
Those willing to hold delisted shares will be able to buy them very cheaply today and might make huge profit in time. Probably directors, managers, friends and large shareholders have a huge advantage. Small shareholders are treated very badly and have so little protection. AIM is a disgrace. Worry is this may set a trend.
Not to mention lost ISA allocation, because you cannot 'replace' the swap.
The big holders couldn't give a flying f... about the small holders, this will go private, be repackaged and list on nasdaq in 18 months with a couple more deals on board. In the meantime, they will squeeze the life of of the small holders.
True, which means they would be subject to CGT in future.
If you go to the ISA website, it says, in bold:
'Note: you cannot hold private company shares in an ISA – only those that are publicly traded'.
Important issue is that it may not be possible to hold delisted shares in and ISA? SIPP may depend on provider?
Why? You will receive a physical share certificate won’t you?
No good if you hold them in an ISA though (I think I am right in saying).
This one was looking like one of the very few good ones in this awful sector.
My condolences to holders here. This looks....shall we say, a sub-optimal decision.
IMO, such a decision might have been more understandable had they released the update and then if the SP went nowhere for a few weeks, then taking a view.
Might have been able to raise cash without too much difficulty within a short period of time as the update and cash position to my mind was hardly dire and sentiment, IMO, pretty good for this name.
But just my opinion, from the outside. Anyway, not my business I guess.
I hope it works out well for holders here.
Every prior RNS talks about massive royalty payments that are due and then all they can talk about in this RNS is the desire to raise a lot more money. They have been misleading investors. I am going to talk to a lawyer about a class action having mislead investors….will probably lead to nothing but one can at least ask.
I guess it’s probably best you hold onto the shares and hope for a sale of the company once private.
Shares are like a minefield
Think about it.
Is it the company and their product that has hooked you in?
Or fact that we are in the AIM?
It's like swimming with money sharks every day, but you are pretty much blind folded, and have money scent using out of you!!!
On this occasion, I am more than happy to follow the investment - stuff the market!
Danno
I agree, this is an absolute sickener. I’m heavily invested here and already underwater. This will tank today. I feel sick
The Company welcomes all Shareholders who wish to remain shareholders of C4X in the event of Cancellation