The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Most holders were expecting the company to fold yesterday i.e no money I think most holders including myself will take this opportunity
Let's not forget 1.425 million raised and ---Neil Herbert, a director of the Company, has subscribed £100,000 for 333,333,333 Subscription Shares at the Subscription Price. With funding raised we could potentially have something lined up soon-- risk vs reward - Happy to hold at these levels and if it drops then happy to add
higher than today, Reynolds will put in funding IMO, the money will be raised, this will only go one way! IMO. GLA
unlikely IMO as they are raising funds now and by way of a placing, and Adams usually also invests himself in any company he shows an interest in rescuing, so I doubt any dilution is on the cards for now.
Looking at some of his previous company's there will probably be a consolidation not long afterwards anyway imo....nipt was a complete different direction from it's predecessor and that's what I feel will happen here...
You can typically expect an SP to pull back towards its placing price, but that rule usually only applies when the funds raised will be used for known expenses; i.e. when an oilie experiences delays and needs to raise operating capital to continue drilling. The price tends to drift because the benefits of the activity have already been largely priced in, and a placing represents nothing but the loss of shareholder value. It's a little different in this case. The funds raised by the subscription will be used to create what is essentially an entirely new company. The SP may drift, yes, because investors tend to be a bit dumb about this sort of thing, but the value in the SP right now is in the *potential* gains that Reynolds and the cash injection will bring. Nothing is priced in. The company is just a shell, a wedge of cash and a man with a firm track record who no doubt has plans that will be announced very soon. Investors wouldn't want to be out when those plans are released, so it's not very likely that the SP will drift down towards the placing price.
very true, I was going to buy in first thing but then someone suggested not to, now I regret it, but at last I am now in albeit at 0.09p plus costs, but hoping for good things, as I'm a big fan of Reynolds :)
Also depends on what Adam Reynolds has in mind as he may have already picked up a nice little earning company for reverse takeover....
doesn't matter if it dips prior to the offer being taken up as the placing will help to average down for those who have bought in late today, and in the end, provided enough money is raised, then this will be a win win for all who are in early with Adam Reynolds in charge! IMO.
Mcap nearly £5m with new shares. Expect it to head down to placing price over coming weeks.
I wouldn't want to make any predictions about exact figures (impossible, since we don't know anything about the direction Reynolds will want to take the company), but it's not unlikely that it could multibag on the next big announcement. After all, Reynolds doesn't seem like the kind of guy who'd take the big chair then sit on his hands and just draw a wage. If he's taking the job it means he has big plans, and we'll be hearing the details very soon.
Totally agree and this is why I think people have clicked onto news. This should easy do 100+ ..
It's a bloody excellent RNS. It essentially says that any legacy issues the company had can be forgotten, there will be cash on hand, and that the current management is being replaced by a guy whose only brief is simply to create shareholder value in whichever arena seems to offer the most potential - and he's a guy who has a solid track record of successfully doing so. The news doesn't seem like it could have been better.
Coming ...
Auction.....hmmmm
It's actually a very good RNS
Looks like you were right. A whopping £8k buy just went through :)
U can buy 2m on barc. ..quit got a quote
4.75 billion shares at a placing price of 0.03 pence per share
Yes it was priced to crash and burn yesterday, but 1.4m plus Reynolds is the best possible scenario...
"The proceeds of the Subscription will be used to provide working capital for the Company and to support the investment in new projects. The Board does not intend to provide any further capital to the Company's existing oil exploration projects, the future of which the Board intends to consider following completion of the Subscription." And no funds to be frittered away on useless oil targets. The company is now essentially a cash shell, with a man soon to take the helm with a strong track record of doing impressive things with such companies. Also, can any LTHs tell me what could be the possible situation with the exploration licenses? I know they didn't find a viable farm-out partner for block 38, but do the licenses themselves have any cash value? I'm wondering if they could be used to generate working capital since the company has no intention of pursuing them.
1.425,000 raised - What is the market cap? Adam Reynolds on board.. I reckon with this news it's a STRONG BUY
warming up, last chance to get in
Not quite sure why you say there is a risk relating to the subscription not going ahead.......the RNS today confirms that it has!
He's (Adam R.) not on BOD until subscription is successful and also the shares to him is on subscription's success. IMHO there's still big risk if subcription don't go as planned.