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Added at 9.6p lifted 2pm, been targeting this price for weeks .
First bought these 21/3/2018 ( nearing 5 years )
Something odd possibly consolidation 5/2/2019 .
And again 3/3/2020 .
Bought 3 times between 12th and 16th July 2021 all same number as shares as I bought 14 June 2022 below at a third of the price .
It is a third of the 14th June price after today,s 41% crash .
This after Rns they are buying another bio company .
leaving AIM for Nasdaq it appears .
In order to facilitate the transition to a sole listing on NASDAQ, the Company is providing an opportunity for Shareholders to deposit their Ordinary Shares with the Depositary Bank in exchange for delivery of ADSs prior to the AIM Cancellation becoming effective.
Hopefully we will be able to exchange shares for ADSs.
Anyone know dates for this CA ?
Midatech Pharma PLC-ADR NASDAQ: MTP
I Topped up again *3.25p order executed when down for x-ray 11am , not quite a double up ( 32% deal cost )
$1.16 NASDAQ: MTP at yesterday close .
It opened yesterday @ $1.8 slightly up ! after two hours in had slipped to $1.32 little kick up to $1.41 next 30 mins then falling to a $1.10 low one hour before close.
Up from the low to a $1.16 close .
This was $4 on 7 July 2022 and again on 18th August 2022 , back up to $3.85 on 12th September .
Before the dip to present level starting on 12 December 20222.
7am RNS ...reversal on delisting!
This news sent it up 30% this mourning ( spread showing as 20% at 10am )
Still below my top up on Wednesday 14th at 3.25p
The low on the Friday 16th was 2.1p ( 38% less )
How does it intend to fund the acquisition for Bioasis.
Just tuning into this company which is why I’m asking and I know nothing about it’s financial state. Would like someone with knowledge to update me please
Ripley,thaks for that.
Are you topping up again today,seems to have frozen at this level for awhile now
SHAREINTHIS , I will if it drops a bit , maybe a better buy now then that gamble last week I took, on the old news Wednesday .
I had assumed the company would do an ADR switch facility ( not sure if I read that )
Midatech Pharma PLC, up 37% at 2.88 pence, 12-month range 2.1p-20p. The biotechnology company provides an update on its agreement to acquire Bioasis Technologies Inc for CAD7.4 million, around GBP4.4 million, which will be satisfied by the issue of 75.9 million shares. Bioasis is a multi-asset rare and orphan disease biopharmaceutical company. The deal was first announced last week. Midatech also plans an equity fundraising of USD10 million. The firm on Monday says that, having conferred with shareholders, it is now no longer seeking cancellation of its AIM listing.
Might of took more when it dipped to 2.5p for a short time at 8.15am this morning .
Maybe due to big USA fall back yesterday across the board .
Ripley 10% up from this mornings low. Something a brewing in the USA ?
Lifted @ *2.5p 10.30am .
Order for twice as many as the 14/12/22 buy posted below,
Down 12% on the day the spread 7%
SHAREINTHIS did you buy ?
Midday RNs........ Possible administration .
Looks like I made mistake topping up here .
Armistice Capital LLC Hedge Fund 12/01/2023 2.8993 % of shares 3,141,225 shares held -68.11 %
Lombard Odier Investment Advisor 15/12/2022 2.4728 % of shares 2,679,059 shares held -64.45
Above the third and forth biggest holders and Armistice Capital LLC Hedge Fund are on here as shorting it.
I said this was anpule of ****. So it has proved. Complete and utter lifestyle company.
Main broker had this as top faller down 20% this morning must be to just draw attention to it .
It had a little lift after 6m private placing to 2.35p .
Dropped back to 1.25p now with a 28% spread .
SHAREINTHIS posted he did buy recently after my question, maybe around the Christmas 2022
Part of 9th Febuary 6m private placing RNS......
"The Private Placement will result in significant dilution to existing equity holders in the Company. Upon issue of the Placing Shares and exercise of Pre-Funded Warrants, existing shareholders would be diluted by 70.5%. Based on the Company's current issued share capital, should all existing warrants, share options, A Warrants, B Warrants, Placement Agent Warrants and Investor Warrants also be exercised at their initial exercise prices, existing shareholders would be diluted by a total of 87.8%."
Cancellation of admission of Ordinary Shares to trading on AIM 26 April 2023.
Anyone have information if there will be a transfer to ADRs offed ?
The ADRs from Wall street Journal
REAL TIME 9:33 AM EST 03/08/23
$0.4096USD-0.0815-16.60%
Volume
43,670
65 Day Avg Vol
48,705
1 Day Range
0.4902 - 0.5051
52 Week Range
0.4902 - 5.25
down 20% stateside as well .
I am not invested but it is a disgrace what has happened here.
They have racked up 127 million in losses ( using existing shareholder funds ) now these existing shareholders are being massively diluted in a deal that I cannot even understand why they agreed to it.
Legalised theft springs to mind.
If I could make it to the meeting I would actually go to give multiple-shots-on-goal-stamp & Co a piece of my mind
He had his hands tied - majority shareholders rejected the Bioasis deal which was much much more attractive without the mega dilution - this option was the only option other than insolvency
That's because even though he said a decision on funding would be needed by July 22, they did nothing and left it far too late and on July 22 the SP was a lot higher.
He made this statement about needing to decide by July 22onn January 22 on a Q&A, where he said they would need a fundraise by July OR merge with another company.
Had they done this earlier it would not have been a panic with massive dilution, but I am betting Stamp and co are well covered financially in all of this.
This was my post in Jan 22
https://www.youtube.com/watch?v=SgE_7nex6Yk
32 minutes
interviewer asks what happens if no deal in 6 months
Stamp says ' maybe merge with another company or fundraise at attractive prices '
I was very surprised he made this comment and decided to sell down
Does not look from this site that any hedge fund is short here , for some time .
https://shorttracker.co.uk/company/
Raised 6m recently and now a market cap of 2m. Priced to go bust but can it spring a surprise!
markets pricing in this latest option being voted against - that would be turkeys voting for Christmas if it was. The architects of the failure of the bioasis bid will push this through as this is what they want. Watch a big pump in the US after AIM delisting
This from Iweb a double consolidation at lest they are transferring for free .
MIDATECH PHARMA PLC - Important Information
Proposed Consolidation
1 New share for every 20 Existing shares.
And
Cancellation of admission to trading of its Ordinary shares on the Alternative Investment Market (AIM) on 26th April 2023.
Following the Cancellation, all trading in Midatech's shares will take place by way of the Company's American Depositary Shares (ADSs), which will remain listed on the NASDAQ under the New Name Biodexa Pharmaceuticals, with Ticker Code 'BDRX'.
To allow you to continue trading in the Company's shares we will take action to convert your Existing Ordinary shares into ADSs. Such conversion will take place on the following basis:
1 New Midatech ADS for 5 post Consolidated Ordinary shares held.
We will begin the conversion into ADSs on 3rd April 2023, at which time your Ordinary shares will be removed from your account.
Please be aware that it will not be possible to sell, purchase, transfer or withdraw your Midatech Ordinary shares once the conversion process has commenced. It is expected that the conversion will take several days to complete. Once complete the ADSs will be credited to your account and you will be notified.
Holders who wish to have their shares converted into ADSs need take no action. There will be no charge for converting your shares into ADSs.
Holders who do not wish to have their shares converted into ADSs are required to either withdraw, transfer or sell their shares (normal charges apply) no later than 31st March 2023.
Holders who do not wish to have their shares converted are recommended to take immediate action.
On 7th March 2023, Midatech announced its intention to Consolidate its Ordinary shares, change its name and cancel the listing of its Ordinary shares on AIM.
All of which are subject to shareholder approval at the General Meeting to be held on the 24th March 2023. Following such approval, the Consolidation is expected to become effective on 27th March 2023.
The New shares are expected to be credited to your account on or after 27th March 2023.
Following the Cancellation, the Company's Ordinary shares will be classified as an unlisted share. As such, neither the Company's Ordinary shares nor ADSs will qualify to be held in an ISA product. If you currently hold Ordinary shares in an ISA and these are converted to ADSs we will transfer your ADSs to your Share Dealing account. If you do not have a Share Dealing Account, we will arrange to open one for you.