The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Just goes from bad to worse. What on earth were the management doing?
And most of those of us who voted to wind the company down will have since sold out. Be interesting to see what value remains, or if any blame is ever pointed out. Surprised that Kkv have thrown their hat in the ring when something smells decidedly rotten.
hmmm, no mentioned on the wind-down valuation.. how long etc...???
"The assets currently identified by the portfolio manager represent c. £54m of the NAV of the Ordinary Shares."
I'm not sure which assets they are referring to, presumably several. The biggest individual asset when I last made notes was the Hartlepool AD plant at £39m, but on the previous update there were so many problems mentioned. It makes me wonder if there is anything left that actually has any value. Most loans/investments seem to need legal action to try and salvage something, and that will probably just be more wasted money. I will certainly be keeping a watch. For once I was in the right place when a RNS came through.
Got out at 18.5p , took quite a hit.
Surprised to have been able get a quote, probably means I got out at the bottom which is a good sign for still in this share
'concerns regarding the valuation' - may not mean distressed? Will just have to wait for the new NAV to come out then. Hit a lower low end of March. But, wow, scary drop.
I dumped all my 12000 at 23.5p. 50 percent loss but it gives me cash to top up in other companies. Good luck to anyone who decides to wait.
Farcical.
wow
Looks like it's time to get the boys in blue in. Can't sell any quantity atm.
Sorry to hear. I'm hoping to see at least 30 again at some point following their NAV report. If so, will also review getting out, however, not looking promising at this point in time.
I have cleared out here today at a crushing loss. The management team are essentially the same, and I can no longer have any confidence in them. They will emerge unhurt here; I will not. Good luck to all those remaining.
Jumped a bit at close, with the bid finishing at 23.50, so good move... (lets see).
Strange I got them at 23.892p after a string of buys at 24.9p and 25p,
Interesting..
Ok, I'll have a small top up as a director is buying.
indeed
Ended the day with 19 sells and one massive buy - 215,286 shares bought for over £59,000. I really hope that the buy is from someone who knows the value remaining in the company, I can't see anyone risking that without some inside knowledge.
14 sales so far today, no-one buying, which is hardly surprising, especially with the 11 percent spread. I wonder why MM's are even taking these shares, can't see any positive news for much of the next year. I am currently down 50 percent and am reluctant to take that loss at the moment. Maybe if I see good opportunities elsewhere I will dump, but currently very disappointed by the SQN directors because I thought they were capable of sorting out their own mess. No idea what KKV's capabilities are.
Welcome to the Never-Ending Story. Are KKV going to sit on this and collect their fees, or are they going to get their hands dirty and clean the AD tanks out ?