The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Use of Proceeds
The net proceeds of the Placing will be used as follows:
· To strengthen the Company's balance sheet as the Company's Directors continue the search for an appropriate reverse takeover candidate; and
· To provide the Company with additional working capital.
Following the Placing, Motif Bio will have cash of approximately £815,000 which will provide the Company with sufficient working capital until February 2021. The Directors will continue to impose disciplined cost controls.
Motif Bio plc
("Motif Bio" or the "Company")
Placing to raise £650,000
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, announces that it has raised a total of £650,000 (before expenses) by means of a Placing (the "Placing") via the issue of 162,500,000 ordinary shares of 0.01pence (the "Ordinary Shares") in the capital of the Company with an institutional investor (the "Placing Shares") at a price of 0.4 pence (the "Placing Price") per Placing Share.
The Placing, which uses the Company's existing share authorities, was undertaken by the Company's broker SP Angel Corporate Finance LLP, details of which are set out below.
Background to the Placing
Motif Bio is undertaking the Placing at this time in response to investor demand. In addition, the Placing will strengthen Motif Bio's balance sheet as the Company's Directors continue to focus on sourcing an appropriate reverse takeover candidate for Motif Bio. The Company's Directors are currently in discussions with several companies in the healthcare sector that have expressed an interest in proceeding with a reverse takeover, although at this stage no assurances can be provided that the effort will be successful to source and/or complete a reverse takeover transaction.
Following its reclassification as an AIM Rule 15 cash shell in January 2020, the Company is required to make an acquisition which constitutes a reverse takeover under the AIM Rules by 28 July 2020, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40. The Company's admission to trading on AIM would then be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
Use of Proceeds
The net proceeds of the Placing will be used as follows:
· To strengthen the Company's balance sheet as the Company's Directors continue the search for an appropriate reverse takeover candidate; and
· To provide the Company with additional working capital.
Following the Placing, Motif Bio will have cash of approximately £815,000 which will provide the Company with sufficient working capital until February 2021. The Directors will continue to impose disciplined cost controls.
Details of the Placing
The Company has conditionally raised £650,000 (before expenses), by way of a Placing to an institutional investor of 162,500,000 Placing Shares at the Placing Price.
Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and admission is currently expected to occur at 8.00a.m. on or around 11 May 2020.
Assuming the issue of all of the Placing Shares, the Placing Shares will represent approximately 33.5 per cent. of the existing Ordinary Shares and will, when issued, represent approximately 25.1 per cent. of the enlarged issued Ordinary
Was watching the auction live like it was a footy match or sthg. Went into extra time!
Usually they're closed by 4.40 but this one went on and on. Was happy with the price at close. Just waiting for an RNS now, SP could continue to run amok in the meantime..!
Motif Bio plc
("Motif Bio" or the "Company")
Placing to raise £650,000
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, announces that it has raised a total of £650,000 (before expenses) by means of a Placing (the "Placing") via the issue of 162,500,000 ordinary shares of 0.01pence (the "Ordinary Shares") in the capital of the Company with an institutional investor (the "Placing Shares") at a price of 0.4 pence (the "Placing Price") per Placing Share.
The Placing, which uses the Company's existing share authorities, was undertaken by the Company's broker SP Angel Corporate Finance LLP, details of which are set out below.
Background to the Placing
Motif Bio is undertaking the Placing at this time in response to investor demand. In addition, the Placing will strengthen Motif Bio's balance sheet as the Company's Directors continue to focus on sourcing an appropriate reverse takeover candidate for Motif Bio. The Company's Directors are currently in discussions with several companies in the healthcare sector that have expressed an interest in proceeding with a reverse takeover, although at this stage no assurances can be provided that the effort will be successful to source and/or complete a reverse takeover transaction.
Following its reclassification as an AIM Rule 15 cash shell in January 2020, the Company is required to make an acquisition which constitutes a reverse takeover under the AIM Rules by 28 July 2020, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40. The Company's admission to trading on AIM would then be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
Use of Proceeds
The net proceeds of the Placing will be used as follows:
· To strengthen the Company's balance sheet as the Company's Directors continue the search for an appropriate reverse takeover candidate; and
· To provide the Company with additional working capital.
Following the Placing, Motif Bio will have cash of approximately £815,000 which will provide the Company with sufficient working capital until February 2021. The Directors will continue to impose disciplined cost controls.
Details of the Placing
The Company has conditionally raised £650,000 (before expenses), by way of a Placing to an institutional investor of 162,500,000 Placing Shares at the Placing Price.
Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and admission is currently expected to occur at 8.00a.m. on or around 11 May 2020.
Assuming the issue of all of the Placing Shares, the Placing Shares will represent approximately 33.5 per cent. of the existing Ordinary Shares and will, when issued, represent approximately 25.1 per cent. of the enlarged issued Ordinary
RNS Number : 8944L
Motif Bio PLC
05 May 2020
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Motif Bio plc
("Motif Bio" or the "Company")
Placing to raise £650,000
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, announces that it has raised a total of £650,000 (before expenses) by means of a Placing (the "Placing") via the issue of 162,500,000 ordinary shares of 0.01pence (the "Ordinary Shares") in the capital of the Company with an institutional investor (the "Placing Shares") at a price of 0.4 pence (the "Placing Price") per Placing Share.
The Placing, which uses the Company's existing share authorities, was undertaken by the Company's broker SP Angel Corporate Finance LLP, details of which are set out below.
Background to the Placing
Motif Bio is undertaking the Placing at this time in response to investor demand. In addition, the Placing will strengthen Motif Bio's balance sheet as the Company's Directors continue to focus on sourcing an appropriate reverse takeover candidate for Motif Bio. The Company's Directors are currently in discussions with several companies in the healthcare sector that have expressed an interest in proceeding with a reverse takeover, although at this stage no assurances can be provided that the effort will be successful to source and/or complete a reverse takeover transaction.
Following its reclassification as an AIM Rule 15 cash shell in January 2020, the Company is required to make an acquisition which constitutes a reverse takeover under the AIM Rules by 28 July 2020, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40. The Company's admission to trading on AIM would then be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
Use of Proceeds
The net proceeds of the Placing will be used as follows:
· To strengthen the Company's balance sheet as the Company's Directors continue the search for an appropriate reverse takeover candidate; and
· To provide the Company with additional working capital.
Following the Placing, Motif Bio will have cash of approximately £815,000 which will provide the Company with sufficient working capital until February 2021. The Directors will continue to impose disciplined cost controls.
Details of the Placing
The Company has conditionally raised £650,000 (before expenses), by way of a Placing to an institutional investor of 162,500,000 Placing Shares at the Placing Price.
Application will be made
It going into auction doesn't mean you can't buy, you just need to put an order on the exchange. Be it a limit or market order. I think there was that much demand at close that they went into auction so that they could effectively close out the day. I put a market order on at 16:29 as I wanted back in on the off chance of a gap up this morning.
Sthg that's got me thinking is that the company wasn't forced to issue a cautionary RNS yday.
Let's see if there's one at 7am. And if the tsunami of buying continues. An RTO into Lamellar is more than we could have hoped for just a few weeks ago. It's 'mutli bagged' already but it was completely on its a*se and had nothing but failure priced in.
If they can get back to 5+p like some are suggesting it'll be a greater comeback than a Rocky finale.
A very sincere GLA.
Well said
First bought Novacyt last day of January
Scrambled to get back am now holding
Been here a while
Got whacked last year
Fortunately averaged down 2 weeks ago at about 0.20p
Need sub 3p to make a modest profit
Stay safe
Wow some BS spouted by Atisha. I held SOLG at the time. It went up from 12p to 80 and settled close of play at 52p, didnt crash to 11p as you say so stop talking ****e. It took another month for it to come back down towards 20p. Those that are out and spiteful pricks can do one. I sold NCYT at 60p from 40p, Im not deramping on that board now its £4. I saw and didnt buy GDR at 12p - my bad, not deramping there either. Let people make some £ in peace deramping twunts.
It’s going to be an exciting day.
You have been asserting 20p all day. You must know something we don't know MrNation.
Numbers,
Same here - I never put a stop loss on an aim share as have seen the very same happen and it is sickening. The mms probably have to make a sale themselves at a low sp to make it a valid trigger to go down and pick up cheap shares. Should be fca investigations when it occurs and hefty fines. I also have a look to see how easy it is to seek and buy a sizable amount as sometimes you are stuck with shares unless you are willing to sell at much lower prices and it is horrible.
ATISHA, I've only bought 2 AIM stocks so don't know all the MM tricks, although with EUA the other AIM I bought I saw some of the MM tricks. One time the EUA share one mid morning plummeted to about 40% of the opening price. It only stayed that price for less than 1 minute, but it seemed to be that the MMs had decided to take out lots of stop losses. After under 1 minute it was back up at around 90% of the starting price. There were loads of sells and very few buys, which made me think that the MMs managed to mug lots of PIs that were unlucky enough to set a stop loss. It was at this point I learned it wasn't a good idea to set stop losses on AIM shares! With EUA I set some optimistic limit sells on 30-40% of my shares at 10-20% above the finishing price of the previous day. If the sell was triggered (usually in the afternoon) I could usually buy in the next morning at 10-15% lower. This worked with EUA as the MMs usually did their tree shakes in the morning and the price typically climbed back in the afternoon.
THe mm"s must be sh*tting themselves thinking about tomorrow, I can see another onslaught on their stock. At least they'll earn their cut!!!
BOJO2020, the 1.8p spike happened between 16:18 and 16:20 then there was a lot of frantic trades (30+ trades at 16:20). After that there was only 1 solitary auto trade at 16:25, which suggests MTFB went into auction at 16:21 and no PIs had a chance to buy shares after 16:21.
Those who speak do not know, those who know do not speak....
Goodnight all
UOS is a prime example from a year last August, shot up a couple of hundred % after hours RNS that it was potentially getting in with some middle easter oil services company, even had the oblig “Billionaire” on board and it is still suspended!!!
Hope Motif has a good day tomorrow/weeks ahead :-)
I watched it intermittently through the day and did see it go from.75 to 1p and back. I have seen this happen years ago on SOLG when it went from 10p to 85p and back to 11p within a minute. The thing to remember is that the MMs set a range for prices throughout the day.
Can anyone suggest a reliable and cheaper platform than Fidelity International for trading. They have serious problems with service which seems to have technical problems a fair percentage of the time. Also, I'd like to trade sometimes before 8.20am!
Sorry 23:03 for 16 of them in a line
Satellite spotting time at 23:04 tonite just south of the moon, at least it will happen.
wouldn't even fill or kill on II never mind LSE
the same here couldn't get a buy or sell from 4.22pm onwards.
Regulatory NewsCorporate Update
Motif Bio plc
("Motif Bio" or the "Company")
Corporate Update
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, provides an update on corporate developments.
As announced on 28 January 2020, Motif Inc. ceased all operations and engaged Tamarack Associates to facilitate the sale of iclaprim and other assets of Motif Inc. It remains the case that in spite of a comprehensive outreach programme, no transaction is currently pending for the sale of Motif Inc.'s assets and there can be no assurance that there will be a transaction to monetise the assets.
Following reclassification, the Company is required to make an acquisition which constitutes a reverse takeover under the AIM Rules by 28 July 2020, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40. The Company's admission to trading on AIM would then be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
The Company's Directors remain focused on sourcing an appropriate reverse takeover candidate for Motif Bio and this search continues. At present, no assurances can be provided that the effort will be successful to source and/or complete a reverse takeover transaction. The Company's Directors will provide shareholders with further updates as appropriate.
The Company currently has sufficient working capital into May 2020. As such, the Directors continue to impose disciplined cost controls and the Company is maintaining very limited operations.