The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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$3.93.............58p
Equates to 50p per mph .
Wow $3.50 over on nasdaq
Haha - nice one. I couldn't really understand people were offloading at 25p even on pre close Nasdaq price, but each to their own. I had bought a few more about three weeks ago at 34p and while the rest of my holdings have transferred to ADRs these are still in UK holding. My understanding is that these can still be transferred to ADR on the same basis?
Not great for schroders after ditching the rest of their holding. You just gotta smile great move by the board.
Great news announced after hours. Selling the rights for their rare bone disease (OI) treatment in the US & ROW to a US company, Ultragenyx. They will receive $50m upfront and up to $254m in milestones. Mereo keeping the rights for Europe. Royalties for US & ROW in tier double digit %. Furthermore, Ultragenyx will pay for all the phase 2b/3 trial development. At $3 for the ADR, the stock is only back to the equivalent of c. 45p vs year high of c. 60p so plenty of upside left.
Up 40%after hours on nasdaq couldnt make it up news was due stupid people selling at 25p are now throwing up ha ha.
That was my view, wondered if I was missing something here, but going to hang onto my ADRs
Up 10% on nasdaq =33p why sell on aim for 25p per share?
I was told they couldn't by A J Bell, not looking to mislead anyone
I have a holding in a SIPP with Ascentric, they have confirmed that I will be able to convert to ADRs and hold within the SIPP
As a clarification - the ADS can be held in a SIPP but not in an ISA. I checked with HL. Hope that helps.
To many rookies on the market who are clueless ,are going to be burned in the months to come.
Hadn't realised that, @rumbled. I've asked my broker (Charles Stanley) about the transfer but haven't had any reply yet
Mine are held in a SIPP and HL offered me to convert them today. I accepted and got a confirmation. Not sure i need confirmation from a punter on ADVFN that it does not work. maybe HL will change their mind (after reading ADVFN) but at the moment it seems fine. Hopefully the advice/warning was with the best of intentions!
I think you will find the ratio of the ADS to the common (LSE) share is and always has been 5:1. If you look at the documentation from when the ADS was issued it is clearly stated 5 shares represent 1 ADS. They have not changed this. There is a small amount of arbitrage between the two listings depending on currency etc - no-one is losing given you still have the same shareholding in the company. In simple terms if there were 100 ADS and 1000 (LSE) shares in issue, that would have represented 1,500 (LSE) total shares (1000+(100*5)). Given going forward we can only own ADS there will be (in the example above) 300 ADS instead of 1500 common (LSE) shares (100+(1000/5)). simples.
Thanks Probo...........still mulling it over, seems to be plenty of good news coming but also plenty of risk as always but are you hanging for the NASDAQ conversion Probo?
£0.34 not 0.34p
I think we are seeing the effect of rounding-down to calculate the share allocation, if we assume that the closing prices on the 10th November were used (the day before the de-listing was announced), MPH.L closing was 0.34p = $0.4512 (XR 1.32695), MREO closing was $2.42, so 2.42/0.4512 = 5.3635, rounded down to 5.
So, yes, we are losing approximately 7% of the value of our shares (2.42 - (0.4512 x 5)) / 2.42 * 100 = 6.77) on that date.
Sorry way behind on here, but aren't we going to be diluted as it's 1 New Mereo ADS for every 5 Existing Ordinary shares held in terms of the final value? I'm sure Mereo will do better being off the AIM but trying to decide on the upcoming good news vs the '5to1' conversion?
All hl punters should have email today to convert .
After delisting these shares will only be able to be held in a general dealing account, not an Isa or a Sipp.
See the ADVFN board for confirmation.
Been in touch with hl and they say they will write to all punters .patience
no notification from HL about aim delisting?
Both over :~)