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A brief look at Mr Tovey's LinkedIn raises interesting observations
Before joining Destiny, he had been COO of GW Pharma for >8 years, before it was bought for >$7bn (>14x sales from wiki figures) by Jazz (where he was also COO for 18 months, before stepping down)
He had a year before next appointment. No idea why - except to say he was surely (imho) in demand, and had the pick of many options (incl globally)
Why would someone with such experience choose to commit to a business worth >100 times less than the one he had led? He clearly thinks there's something in Destiny (he has said as much)
Interesting to note from wiki that 9 months after becoming COO, GW Pharma listed on NASDAQ. I've often wondered what effect that might have on Destiny, given the vast differences in valuations. Someone with such experience will have first hand insight to add to the already vastly experienced Sir Nigel Rudd as chair
This is my thinking he comes with experience that should be more respected I get people frustrated with the drop but he knows what he’s doing!
He did an interview where he said he’s more excited joining DEST than he was when he joined GW…
CT has plenty of experience dealing with big parma companies and clearly he has seen something very special in XF-73 to jump on board. I think his experience will count in negotiating a partnering deal for XF-73 trials, licensing and fundraising . He has dropped a few hints that he is in discussions with MULTIPLE parties, which he can have leverage during negotiations. I am guessing that when Neil Clarke made a deal with Sebela for M3, they were the only party at the table and so had the negotiating power; hence it was a bad deal for DEST due to the discounted fundraise. But CT is talking with multiple parties and can if necessary play one against the other to get the best deal possible. I think that is where his experience will come in but is the reason why this has taken longer than some people expected
Agree kipper I have confidence he will get us a good deal!
People expected end of year deal because that was Neil Clarke’s guidance but I thought CT made it quite clear he was gonna take his time to get best deal and I expected it to be around end of Q1 and I still think it will be around this time frame
As a newcomer and currently carrying a loss I was concerned to note that earlier threads refer to Justin Waite selling a large number of shares. Does that not seem strange if potential deals are likely to be imminent?
No Justin has a new strategy that he sets stops losses and takes his profit if it falls back which it did because of the seller, he’s basically finding good companies and trading them based on the chart but he’s open and honest about he strategy so can’t knock him
Justin said he was stop lost out at 60p, he also said he would probably buy back in when the dust settles.
Last IC view: Speculative buy, 49.5p, 3 June 2013......this was GW pharma when CT was CEO 1 year after he joined and before they joined Nasdaq......Investors Chronicle view
Recognise the similarity going on here🙂
.....
Gauge the price of GW pharma back then to what it was when Jazz bought the company. I'll be back in but not yet, give it a few more months, if a deal is struck before Sept I'll lose out but that's life, good luck all 🙂
Thank you for providing clarification re Justin Waite's position.
JW is a charlatan and the biggest P&D merchant going, his "picks" are usually disasterous and there's a long line of them. Be very careful on following him on a trade. Best thing to happen here is if he's moved onto another one.
Agree we are better off without JW - he and his lemmings were the main reason behind the recent 40% drop in SP on zero news. But it also says a lot about how fickle the AIM market - huge MCAP swings with no change in fundamentals. IF it is CT's plan for a NASDAQ listing, it would be a much honest market to be listed on than AIM.
Re JW....xp factory( ex escape rooms) being one of them!!
I agree re JW. Uses he’s platform to P&D. I don’t trust him one bit. Was pumping Lung Life like crazy last summer.
DYO DD
I agree re JW. Uses he’s platform to P&D. I don’t trust him one bit. Was pumping Lung Life like crazy last summer.
DYO DD
JW talks his own book and pumps as he sells
He did the same with XP factory, LLAI, POLX, SO4
To name a few
However, i also note that there wasn’t a TR1 when he sold his XP factory?
In any event: he’s just like all the other podcast pumpers
Follow them into a trade by all means but make sure you put a stop loss in
Charles Archer is another one that works on a similar basis to JW. I’ve been caught out a few times with he’s recommendations. Anyway, back to topic, I didn’t think it would drop to these levels again, tempted to top up bit as another poster suggested there might be a better entry point to within the next couple of months, if something is signed before I buy so be it. CT’s CV is certainly impressive I can’t see him joining unless the potential was there.
GLA, keep up the good work with genuine advice and information.
I’m topping up through my SIPP on a monthly basis but that’s just me
I see a massive value disconnect here
From trades it looks like the seller is still offloading with a few trades of approx £10k, just like the past few weeks. Provides a good opportunity to buy.
Had no idea who JW was ...a Justin Waite VOX markets , and part of the Winnifrith type associates .
Chris Tovey was with GWP
Bought in today for a lower then first planed *31p another new share , and it is in the lent few weeks.
Chris Tovey was on the board with GWP.
Turned out one of my better share gambles but was once down about 50% if memory is serving me correctly.
Leaving AIM for Nasdaq a great move for holders .
Brooko19 the problem you have is that you don’t like someone who has a different opinion to yourself. When a comment is made which doesn’t fit your narrative you call them a troll or as I can remember you called me a clown when I questioned the company and its history, that was when the price was at 75p. I remember at the same time you were calling this at £2 based on imminent news back in December, now who’s looking the clown. I asked you what you based this £2 valuation on and didn’t receive a particularly constructive response. Even though when you posted this £2 target you received numerous likes. I rest my case.
You was calling 25% uplift from 75p if I remember correctly….
It’s not about not agreeing I just CBA to entertain BS!
Hopefully you see this as a learning rather than blindly shooting peoples opinions down that differ from yours. Sajyboy and you are very similar, the only difference is he has gone away licking his wounds and realised what a mistake this has been. I wanted out and was hoping to sell on an uplift on the day of news which didn’t occur, glad I sold on the day though. You still thinking this will be £2? I won’t ask how you get to this figure as I didn’t have meaningful response the last time I asked.