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Started: CityWatcher, 8 Jan 2024 00:47
Last post: dannatt, 28 Apr 2024 19:12
Sorry. Cracking up. Yes I see what you mean. Hopefully many multiples of this price in a year or two.
Dannatt , what do you mean ?
What 400 million dollars are you referring too ripley
RNS listing cancelled today yesterday was last day maybe the 27% rise shorters closing .
Wow I was a little up here as recently as 8th January this year , when it spiked to 18p.
The AIM casino .
Started: Bufflehead1992, 25 Apr 2024 19:12
Last post: Bufflehead1992, 25 Apr 2024 19:12
Sorry to tell you 10.72p was final buy price of day. Those 2 x 1.6 Million trades look odd....
Started: ripley94, 21 Feb 2023 13:56
Last post: ripley94, 25 Apr 2024 19:06
Up 25% Today .
Last chance to sell tomorrow.
Clive Dix CEO is up on his 8 April buy below.
Brought 485,320 shares yesterday at 10.3p
Share Price: 12.00......Bid: 10.30....Ask: 10.80....Change: 2.575 (27.32%)
Spread: 0.50 (4.854%).
RNS yesterday.
Clive Dix CEO .
Brought 485,320 shares yesterday at 10.3p
A further -15% down today will not be allowed to stay in ISA , if you do not sell.
AIM shares just not worth risking money on .
Wednesday 27th Mar 2024
This from before the Easter break ,
C4X Discovery seeks AIM delisting but half-year revenue skyrockets
(Alliance News) - C4X Discovery Holdings PLC shares plunged on Wednesday after it said it plans to delist from AIM in London, due to "the recent downturn in the financial markets" hampering its valuation.
C4X shares dropped 24% to 10.00 pence on late on Wednesday morning in London.
The Manchester, England-based drug discovery company will seek shareholder approval to delist from AIM at a general meeting on April 5. It expects the cancellation to take effect on the morning of April 26.
Following the delisting, C4X intends to re-register as a private limited company.
Chief Executive Officer Clive Dix said the decision follows "an extensive review and deliberation to ascertain the most effective way to maximise shareholder value in the longer term and increase the potential for [our] long-term success".
He added that "the recent downturn in the financial markets has adversely impacted our share price, and with it, our future ability to raise funds in the public markets...we can potentially access a larger quantum of future funding required to accelerate our strategy as a private company".
Also on Wednesday, C4X released its results for the six months to January 31.
The company swung to a GBP17.8 million pretax profit, following its GBP5.2 million loss in the first half of financial 2023.
Revenue, meanwhile, soared to GBP24.6 million from GBP1.7 million.
C4X said this reflected receipt of GBP15.9 million from selling the rights to its Orexin-1 receptor antagonist to Indivior PLC in August, and a USD11 million or GBP8.7 million milestone payment from AstraZeneca PLC. The latter, received in early January, stemmed from preclinical progress of C4X's NRF2 Activator programme which it licensed out to AstraZeneca in November.
Research & Development expenses remained stable at GBP5.2 million, "reflecting focused investment in key drug discovery programmes focused on immune-inflammatory diseases."
Looking ahead, C4X believes it is "in a strong financial position with the potential for further milestone payments over the next 18 months".
It said that once it officially becomes a private company, it will be able to "accelerate our strategy and...maximise revenue from our portfolio", assuming it can access those larger pools of potential funding.
I saw the below post by gggg21 , I have to many losing AIM shares , I have read on other BBs that you can not go short on these types of shares , and this one having a smaller free float then others .
What is the truth of shorting on AIM .
RE: So...15 Dec 2023 08:10
Amazing how that one short opened this morning has pushed it down but so difficult to buy.
Up 13% to 17.3p on the bid. 2.9% spread the ask is 17.8p.
Now above my buy price of 16.65p in hindsight the noticed 43% rise two days ago was a buy signal .
Two weeks ago on 18/12/23 I saw a new low of 8.41p ( 50 % down ) must be manipulation this payment was known to be coming ?
Bad luck for any who might of sold a week before Christmas day.
Started: Troajan, 23 Apr 2024 11:35
Last post: DD77, 24 Apr 2024 17:06
Last trading day tomorrow.............be interesting to see what the SP does. I wonder if there'll be a last scramble to hoover up shares from the big boys, or a last ditch fire sale from people trying to get out
Three days left!
Looks like c4x as bottomed..imo
let's see
Last post: dannatt, 22 Apr 2024 17:18
It looks like a major shareholder does not wish to hold shares in a private company going forward. Should get an RNS for the large sales today .
Started: Danrodgers84, 19 Apr 2024 10:35
Last post: Danrodgers84, 19 Apr 2024 10:35
Been trying to get an answer as to what may happen to anyone invested from next Wednesday onwards. Let’s say C4XD was a success moving forward privately, and in 5 years time the news bought out by a large company, are investors who bought before the Wednesday cut of rewarded in anyway as in payed out for being a investor when they was on the stock market? My real question is how would someone go about proving they are a stockholder in a private company, is share certificates given out? Even if that’s after they de list?
Clive chatting on R4 now.
By my calculations RG increased his holding by 5.745716 million shares on thursday. Given the huge buying on Thursday over and above this figure I think someone else also acquired at least 1.5 million shares so could get another RNS of increased holdings.I wonder where all these shares came from as I don’t think retail investors will have sold that many !!!
Yup - the 3.5m share clip on Thursday was him..
You didn't have to sell them. You chose to.
It does stink , I had to sell mine for a loss. Don't want to be in a non tradeable company. 🤢😩
Surprise Surprise !!! Richard Griffiths ups his holding. Share price driven down so major investors -insiders can pick up shares on the cheap .Whole thing stinks
Started: scmdcyp, 6 Apr 2024 09:18
Last post: scmdcyp, 6 Apr 2024 09:18
Another co in same position is Redx that had fallen much more worth a look if your into this could have a move next week.
Not sure but maybe worth a look.
Started: sdow, 3 Apr 2024 08:06
Last post: sdow, 4 Apr 2024 17:05
Any of the existing major shareholders will have to notify via TR-1 if they increase/decrease.. i.e. Lombard Odier, Polar and Richard Griffiths. Some of the large trades today could be one of them... we'll find out tomorrow via RNS..
Also.. I wonder why Astra or Sanofi just don't buy the whole thing down here..
I think the TR-1 major holding updates will be after it’s gone private but they probably won’t have to announce anything when it’s not a public company anymore. Not sure how it works
Wonder if we’ll see any TR-1 major holding updates?
Huge buys going through at the moment. Presumably to make sure the vote goes through.
Yes, much more economical (for C4X) to do this & allow Polar, II’s etc to buy up PI shares at 7p than do a (fairer) premium tender offer at 12-15p.. then in a few months any remaining PI’s will one morning receive an email saying 750m new shares have been issued at 5p to a new VC and cornerstone investors (polar etc)… no chance to participate.. now 1bn shares free float and you have been diluted 4x
Don’t think so route-1. It’s always been a risk that exists and occasionally plays out. However, it’s arguably a greater risk now that Uk markets are such a tough market to raise capital on. I think it’ll will be remedied eventually
Is this the start of things to come where high net investors can align themselves with management and go down this road. now adds even more risk to investing ..Safer to put youre money in the bank.
Started: dannatt, 4 Apr 2024 14:40
Last post: dannatt, 4 Apr 2024 14:40
Just got this back from Brad Hoy CFO
Many thanks for your email.
As stated in the Circular to shareholders the board believes there is long-term value in the company and its shares and that private investment and valuation is the best way to achieve that for all shareholders.
It is unfortunate that those with tax incentives stand to lose them. It would appear subsequent UK governments created investment incentives on one hand whilst creating a regulatory environment that substantially reduced the amount of cash in play in the London equity markets with the other. Having spent over 25 years raising capital on the London markets I certainly hope this will be remedied in the very near future.
Please let me know if you think I can help in any other way.
An excellent article
The sad fact is that Nomads are letting the market down-most have conflicts and populated with poor accountants who really don’t understand businesses.Some of the rubbish that has been brought to the market by the likes of Finncap is shocking, all fee driven of course
In short, good companies like this are being tainted by dross and the FCA should really be taking a look at how AIM functions
Reminds me of silence therapeutics.with one of the same major investors involved
Started: Compoundinterest, 27 Mar 2024 10:23
Last post: Robdog67, 28 Mar 2024 12:55
2 more to delist today , molecular E down 80 % !
Can't see the sense as company will have to flog their shares at a much lower price in the private market than if they were listed, or am I missing something? Or are the directors just greedy bxxtards as they will pick up the shares and company on the cheap 😤
Agreed. By mentioning the delisting strategy the board have given the shares a death sentence. Any institutional investors left will be forced to sell over the next 12 months. There will be a lot of undervalued shares on offer which investors should snap up and vote in a new board. The fact that the share price has remained stubbornly undervalued is a reflection of them not the technology. This strategy might suit the directors so they can avoid the scrutiny of the city but I fail to see how it benefits shareholders.
Unbelievable value destruction for small shareholders. Shocking exit or no exit option or protection for the little guys. Nasty as hell. Clive as chairman couldn't careless too. He's sucked shareholders dry and decided to call it a day.
Paul
Brilliant....do you also give advice before the event or just after ?
The bid price is now 10.05p - a poor decision to sell if ever I saw one. It was obvious there would be a knee jerk reaction immediately.
Just sold mine for 9.55p via Barclays. Unhappy about the proposed delisting.
Can’t sell anyway
If you really need to ask that question, then I suggest you amend your username
Started: CityWatcher, 27 Mar 2024 10:23
Last post: CityWatcher, 27 Mar 2024 10:29
Apologies re a slightly mixed up statement in £'s.
These are more exact.
· Revenue was £24.6 million (January 2023: £1.7m) reflecting receipt of £15.9 million from sale of Orexin-1 receptor antagonist programme and $11 million milestone payment from AstraZeneca.
· Total profit after tax of £17.8 million or 7.06 pence per share (January 2023: loss of £3.9m or 1.55 pence per share).
· R&D expenses remained at £5.2 million (January 2023: £5.2m), reflecting focused investment in key drug discovery programmes focused on immune-inflammatory diseases.
· Net assets of £24.6 million (January 2023: £13.6m).
· Net cash as at 31 January 2024: £13.1 million (31 January 2023: £9.6m), before post-period receipt of $11 million milestone payment from AstraZeneca in February 2024.
The talk of maybe delisting is just a proposal at the moment. The shares will probably still be allowed to trade direct with this company for up to a year as they stated.
So it's not really a reason to panic yet, they seem to be making money too. Cash of £17m approx.
Dr Clive Dix, CEO of C4X Discovery, said: "We have not taken this decision lightly, however, following an extensive review and deliberation to ascertain the most effective way to maximise Shareholder value in the longer term and increase the potential for the long-term success of the Company, the Board has unanimously concluded that it is in the best interests of the Company and our Shareholders to delist from AIM and re-register as a private limited company.
C4X has a successful track record of out-licensed pre-clinical assets to world-leading pharmaceutical companies. The Company has signed three deals which have in total generated $55 million to date demonstrating its scientific and deal-making capabilities:
· In November 2022, AstraZeneca signed a world-wide exclusive agreement worth up to $400 million for C4XD's NRF2 Activator programme; the first milestone payment of $11 million was received in February 2024.
· In April 2021, Sanofi signed a world-wide exclusive agreement for the Company's oral pre-clinical IL-17A inhibitor programme worth up to ?414 million; the first milestone payment of ?3 million was received in July 2022.
· In March 2018, Indivior signed a licensing agreement for C4XD's Orexin-1 Receptor Antagonist Programme which it subsequently acquired in July 2023 for £15.95 million.
Lymie you’re absolutely right. Decent people would have made an offer to buy from the concert party of Lombard, Polar and Griffiths. Its absolutely disgraceful what these crooks have done.
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.
Last post: wakeyinvestor, 27 Mar 2024 09:06
This is a good company, if you held shares at the start of the day, IMO you should hold and not crystallise a loss. This isn’t a company in distress but one with great prospects.
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
Started: David1951c, 27 Mar 2024 07:48
Last post: Stampee1, 27 Mar 2024 08:42
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.
Not to mention lost ISA allocation, because you cannot 'replace' the swap.
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?
Started: PaulBrains, 27 Mar 2024 08:06
Last post: PaulBrains, 27 Mar 2024 08:06
An announcement to try and provider greater returns for existing shareholders does the complete opposite.
This needs stopping.
Started: David1951c, 27 Mar 2024 08:00
Last post: DD77, 27 Mar 2024 08:03
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.
Started: Isthisawinner, 27 Mar 2024 07:56
Last post: Isthisawinner, 27 Mar 2024 07:56
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.
Started: Danno01, 27 Mar 2024 07:26
Last post: wahlberg, 27 Mar 2024 07:47
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.
I guess it’s probably best you hold onto the shares and hope for a sale of the company once private.
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
The Company welcomes all Shareholders who wish to remain shareholders of C4X in the event of Cancellation
Started: Isthisawinner, 27 Mar 2024 07:22
Last post: JCEP, 27 Mar 2024 07:38
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.
Shares are like a minefield
I agree, this is an absolute sickener. I’m heavily invested here and already underwater. This will tank today. I feel sick
You find a company where you think you can trust the bod and their science....then they f..k you too.