The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Do they are saying there could be a possibility of a rescue ?
'So', not 'Do'
It is 6p call on 180m shares would clear $14m OF
Having always been pretty sure that Admin is game over for shareholders this does appear less clear? Is it possible that it can come back out again with same management and owners (you the shareholders) as before?
Have to say it seems extreme behavior by Oxford Finance.
Why didn't the board spring a placing when the price was at 40p or so. Would have raised enough to keep Oxford happy and although at the time would have annoyed shareholders in hindsight it would have been better than now.
Problem was/is that the cash burn vs the foreseeable time until significant revenue did not stck up.... Even for a small cap pharma.
Started talking to OF on 23rd and they demanded money on 24th, very good
Bugger.
What scope is there for them to come back to us with a 1p0% RI that we can participate in...would they and could they now?
Would you take part? Yes for me
it is in our best interest for sure
Do you really believe those dates ?
How many shares did the Execs manage to sell when the **** was hitting the fan ?
I bought £2.5k at 43p and was at £1k value today. Now zilch.
I am bruised but I'm not going to let me (and hence family) down.
"Started talking to OF on 23rd and they demanded money on 24th, very good"
Another fine example of what happens when Duncan opens his mouth. OF probably only meant to discuss the weather but after 30mins of hearing Duncan talk about cumulus clouds decided it was best for everyone if they got their £13m quid back ASAP.
I got the feeling Oliveira didn't like the Oxford deal
Sang- you were insistent that the $12.5m drawn dawn wasn't usable in it's entirety and $7.5m had to be put in an account until further amounts were raised, if that were to be the case then it wouldn't be $13.86m to payback. I asked that question at the Q&A but along with other questions didn't get a response. I think this looks like a trap planned by OF right from the start.
Now we know OF want their money back, ordinary shareholders are left destitute.
Administrators only look after the interests of Creditors
Ah well some you win some you lose. No good crying over spilt milk
I am in a slightly more fortunate position to most, got rid of about 80% at just over one £, thought i would keep some for interest only as i thought if successful i wanted to be part of it.
Probably last post for me, but i wish everyone all the best and maybe just maybe you might get something back.
If the finances were as precarious as this why was 4D spinning so many plates? They had the MRX0518 + Keytruda trial, Bavencio, the phase 1/2 Asthma trial, as well as going after covid last year. Seems reckless to me.
A slightly more fortunate position ? !!.. Yeah slightly, hugely more fortunate ! now is not the time to mince about. But well done , I knew I should have at least sold some on the run up to 74p a while back
The vultures will be circling now, looking to pick up the juiciest parts of the corpse.....
I bailed after the Q&A with a 5k loss. For those out there UI was in Quindell & lost 5 figures after Gotham hit
What i think I'm surprised about is that a placing could have been secured albeit at 100% dilution that would have raised at least 20m covering off either the debt or keeping the current terms on track without revision and allowing breathing room
Hmmm, half of me wonders if this is an indirect way of doing a private equity backed MBO, trying to buy all the assets off the administrator for say 15m, releasing the charges that Oxford have over the assets and then Duncan gets the entire company to sell on later for a premium, shareholders shafted.
If the administrators are any good, they should seek best price for the assets including contacting Merck and GSK if they are interested in the sale. The business should be offered for sale for best offers from across the entire market.
On a positive, Merck are shareholders so should be aware. IF Duncan plays it straight, and that's really the burning question, ultimately SH should get back a significant premium to the closing price as the business assets should be worth more than the current mcap.
However, this is the point isn't it..... 50/50 we will be shafted, see what next week brings
Puts you off backing fledgling Biotech coys full stop doesn't it...
That would raise so many questions / legal challenges though?
Sanj after your comments to me… karma sir
Hold my hands up - I called it wrong earlier today when I rubbished speculation about the suspension being down to OF calling in the loan. I think I called it doom mongering.
My apologies.
Bug*er.
I honestly think Duncan just does not give a ****
If he had any idea of what he has caused, he would not have taken us for a ride.
I knew he had an agena on Tuesday and said so but did not expect full shafting. I have no doubt he has a plan to get his own personal capital back. After the damage he has caused, I think he has a heart of ice regarding our emptional and general wellbeing. Utterly incredible. He had this all planned. I saw it on Tuesday and so did the markets. But did not think he could be so callous. Oxford did not spring this on him.
So it looks like two things to me;
1) The BoD can save it out of administration
2) The assets are sold, if there is a buyer, and that money is used to pay off OF and other debtors. Depending on the total asset value, we may see something back. The question is, how much are the assets are worth in the current market.
Merck already owns 4.6% of the company and has formed a strong partnership with 4D... they're a $250B company, if they believe in MRX0518 then there's got to be a chance they keep 4D's business afloat.