Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone 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.
Having written a snotty e-mail to the boss, here is her response...
Dear Leslie,
Thank you for taking the time to get in touch with me directly following yesterday’s announcement. I appreciate your thoughtful comments and am grateful for the support you’ve shown the business as one of our most engaged shareholders.
The board has not taken the decision to de-list lightly and, as we explained in yesterday’s RNS, it’s our view that de-listing is in the best interests of the company and its shareholders over the medium and longer term. We believe that OCT’s current market cap in no way reflects the prospective value of our current pipeline of our four drug development programmes, or the value of our proprietary library of almost 500 cannabinoid derivatives. Indeed, Edison Group has recently valued the company at over £27m based on OCT461201 alone. As we said yesterday, the UK capital markets are facing particularly challenging times and many biopharma businesses like ours are re-evaluating whether the London Stock Exchange is the right home for them. The current market conditions are compromising our ability to deliver on our core mission - bringing help to people living with debilitating conditions such as Trigeminal Neuralgia and Chemotherapy Induced Peripheral Neuropathy.
We believe that de-listing presents an exceptional opportunity for us to build a valuation that appropriately reflects and celebrates our track record and assets. This will allow us to progress our programmes in a more efficient and timely way, thereby opening the door to re-listing on a regulated exchange in due course. That may be here, in the UK, or on NASDAQ in North America, which has a deep pool of life science capital markets.
The last day of dealings will be on 5th June 2024, and we are aiming to put in place a matched bargain facility such as JP Jenkins or Asset Swap so that shareholders have a platform on which to trade their shares once the de-listing is complete.
I have recorded a video interview to further explain the rationale and set out the next steps for OCT – you can find that here.
I hope you will continue to support us as we transition to our new home as a de-listed company. If not, I remain grateful for the support you’ve shown us along the way.
Best wishes,
Clarissa
Clarissa Sowemimo-Coker
Chief Executive Officer
5th June then, gives the shares a month for the mm's to spike it. That might sound rampy but for some reason they nearly always spike stocks getting delisted. It's maybe the mm's want to reduce their stock for a much higher price who knows. I bought Redx for 4.4p and sold it for 50% profit 6-7p range only to see it super spike to 30 bid one day.
Also if they are planning a matched bargain system there might not be the usual sell off to get out as well.
Https://www.lse.co.uk/rns/CEL/fundraise-rcf-extension-termination-of-cln-tvr-n9jsvyf94i2gloe.html
This is how you do it
For me I’m reconciled with this move now and do think it’s ultimately in the company’s and shareholders best interests. Happy to hold this and watch it play out.
Full ask paid
I think there is a buy order here, the mm's are just mopping up all the scrappy sales every day and I have 7.5 million and get a quote to sell and get a small premium over 0.15p. Still think like other similar delisting plays they will spike this at some point