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I would say if they halved it to 110% and maybe 1:1 warrants then at least we would all be doubling our chances if the new company does ok in the next 6 months.
Can't see it happening at all though as it is too late now.
Roobler.....having been involved in a couple of RTO's I can assure you the candidate will now just walk away. There are other shells that could be used, they have time on their hands Motif doesn't. The negotiations took months to get to this stage, I can assure you just because the shareholders want a better deal the 'candidate' will not be interested. The candidate was interested in Motif at a steal of a price that was all.
No more deal to be done, we will be delisted shortly.
100:1 is still bad BUT with more warrants it would be bearable
What sort of consolodation would people consider "fair".
I guess the board woukd need to swing 9% of the no voters, so would 100:1 do it? Still awful mind
I think people want a better deal in the current candidate not a whole new candidate.
Surely if better terms e.g. Warrants and Consolidation the FCA would grant an extension if the investors we getting a better deal.
@hellosandiego thanks. I really hope the board come back with something more realistic now. Otherwise everybody loses out.
The extension of the RTO was given by AIM due to a deal potentially being in place. There will be no extension for a new RTO as it is not being discussed or in play. Therefore the share will be delisted on AIM.
People said before 'well I am voting no and don't care if I loose everything', well people voted 'No' so there is now nothing. The scraps will be worthless.
Take it for what is was an experience in life, we live and learn. No point panicking now thinking 'Oh what if we do this, what if we do that, will we be able to salvage something'. No the vote was cast.
Live, learn and move on!
I have emailed them and just chased today after 7 days of silence.
Given nobody from the board is going to the candidate the board are merely the team to finish the RTO
I guess we need to know the process and then come up with some resolutions
The board need to remember they work for the investors
I have emailed Wallbrook to understand who organises the GM given the amount of shares in issue on this board alone we should be able to call one as you only need 5%
You will need to have a list of resolutions to pass.
Given the result of the RTO resolutions, it appears the vote of no confidence is now self evident for our ceo and bod. So I for one would vote to kick them out.
I would also demand that the Orange dudes are forced to make statements regarding the progress of monetization of Iclaprim. I would withhold any commission due to them for any deals made due to incompetence. And possible collusion in side deals that are not in shareholders interests.
What a sham company this is/was.
GS
Well…at last we let them know how we can deprive them from any more gains out of Motif…
They either give us a far better deal or lose any benefits out of our massive loss and disregard.
I am very satisfied with the results…
Having a nice shandy in the garden…..lol at their shocked ugly faces..
capslock - "So how would you do that"
If the BoD arrange that facility they'll provide details. If they don't arrange it I have no idea if you can do so yourself. Take a look at a site called Asset Match for an example of how it's done.
Also we could still call a general meeting and vote to throw out the current board if we wanted to.
To see if the board or candidate are looking at better terms?
13:10 Rosie. I could not have put it better. Well done you and all those who helped to halt this deal. We will all sleep well knowing what we did was right. Stuff the greedy ****s.
GS
Ah ok, thanks @hellosandiego. So how would you do that. So if delisted from aim, will our shares still be available to buy or sell on the site? (Knowing what the site is that is)
Says a lot about what an utterly disgraceful 'deal' the RTO was that most investors would rather lose their remaining holdings than allow Motif's blatantly self-serving, inept and callous BoD to further decimate shareholder value in order to line their own pockets even more.
I lost £40640 here, I went all in thinking it was going to be my 'early retirement' fund. Stupid I now know! However, that £41k was only going to be worth around £1k after the RTO anyway...
This was my first ever holding. 5 years I've been on this BB.
I've since learned to invest in companies whose BoDs aren't as arrogant as they are inept, so the loss isn't as catastrophic as it could have been and I will definitely be claiming this absolute mess against any future CGT!
Shame on you Motif. Truly. Shame on Lumsden and Williams and Gold et al! The way they tried to sell this RTO to us, after already overseeing an utter shambles, reminded me of the expression "Don't pee down my back and tell me it's raining!"
A painful lesson indeed. Some PI's lives have been impacted upon badly here, for real.
If BVX are so sure of their products and that the share price will rise, why not offer us 10x warrants with a better consolidation ? Might be a better incentive for most !!
Also, the money from warrants would go into BVX coffers anyway!!
GLA
capslock - "the Board may consider implementing a Matched Bargain Facility"
It's a site that lets you buy and sell shares in a cancelled (i.e. private) company.
Ok thanks for that HelloSD , I wasn’t aware of that. Only the third time in over 20 years I’ve been in this situation!
dgbell7 - "If I understand it correctly this board on LSE will end tomorrow morning on the de-listing."
No, I've seen cancelled companies from last year whose boards are still up.
If I understand it correctly this board on LSE will end tomorrow morning on the de-listing.
I’m not sure if there are any further twists and turns to come here or if it’s just a write off.
I’d be interested to know if any one sets up a group for shareholders to keep in contact when this board disappears.
I think the board badly misjudged the situation; we were going to be so diluted and they were going to get the lion’s share of the benefits that they really caused a shareholder revolt.
Maybe they will reconsider before delisting tomorrow morning as if they could easily get a resolution passed if shareholders felt it to be more equitable. The BOD are losing an awful lot more than us.
Well said Rosie
16th Feb 2021 7:00 am RNS Admission and First Day of Dealings
"... Upon Admission, the Company will acquire Kanabo Research Limited for an initial consideration of £15 million. The initial consideration is being satisfied by the issue of 230,769,210 new ordinary shares in the Company. In conjunction with Admission, the Company has raised gross proceeds of £6.0 million through an oversubscribed fundraising that is comprised of a placing and subscription, at an issue price of 6.5 pence per share. Upon Admission, the Company will have a market capitalisation (at the issue price) of approximately £23.4 million. Peterhouse Capital Limited acted as Broker and SI Capital Limited as Placing Agent to this fundraising. .."
https://www.lse.co.uk/rns/KNB/admission-and-first-day-of-dealings-rxkd36kvebnl57g.html
Potentially this RTO could have been as good as the RTO of Kanobo into SOP (albeit the real gains might have taken a bit longer).
A RTO at 6.5p, and hitting 50p in the third day of trading.
That opportunity has now been lost, and shareholders here will probably lose everything.
Some will feel that's good value for giving the directors a bloody nose, and others will disagree.
That's democracy.
Ii'm also in HE1, COPL and G3E they are my only hopes