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This last week was an obvious opportunity to buy, MM's know news is imminent and agreed now news is good news, roll on phase two with ever increasing JV on the cards. M/C is ridiculously low
No news is good news...trial would have been pulled if safety concerns by now...all good i reckon
Am hopeful when you can dummy sell your holding but can't buy back the same amount things maybe looking up.
Plenty of articles on various platforms today , link below , it’s going to get exciting soon
https://www.linkedin.com/posts/oxford-cannabinoid-technologies_octp-activity-7109853818086912000-PJb0?utm_source=share&utm_medium=member_ios
Hopefully see some Hemo profit put here - timing could be good. Not long left of this quarter….
What we really need is a cracking RNS like HEMO here.
Not Capital re-organisation.
Go back to the drawing board bod.📝
I just hope we get an update before AMG.
Otherwise AMG will be more repeats 🤬and no real news
Before the AGM hopefully
598k sells and over 3 million buys.
Must be getting closer to news.
Alot of buys today
You have to be a real moron to care about market cap in a company where the share price is below 1p. The company is cheap, load up and see if it 10 bags or 100 bags in time.
Yes it's just a wheeze to allow them more flex. It only effect nominal value, no effect whatsoever on the shares worth. Hoping they need this additional flex in order to take product to market :)
Windsor conveniently only arrived here yesterday Nigel50.....go figure
Octp, to add, this is stated in supporting notes, have NO plans to increase the number of shares apart from the normal employee share options.
The post from Windsor, laughable. Utter nonsense.
Ahhh. Understood. That makes sense. Thanks.
Does this help. This is the way i see it...
It's a purely a procedural process allowing the Company to reduce the nominal value of its shares from 1p to 0.1p WITHOUT diluting existing shareholders as the Companies Act prohibits companies from issuing shares at below the nominal value.
It'll have ZERO impact on shareholders - no new ordinary shares are being issued.
The reason for it is to allow the company to take advantage of the general authority to issue new shares (up to 20% of share capital only) it's requesting at the AGM - that means the Company is able to be more agile as and when it wants to raise some cash.
This is all subject to a shareholder vote at the AGM so is entirely in shareholder control.
There's no impact on existing warrants currently issued by the company, which have a 5p/share exercise price.
There's nothing fishy going on!
Amy more thoughts or questions please send to me and i can try and pass on to the BOD if thats helps?
david burton.tms@gmail.com
You can gloss it up all you like, but your virtually having a 90% haircut .
I've just read the entire prospectus the strange part is if the SP is above 1p than they can do a offering which as I believe correctly they have enough money to march and with results on the first phase soon to be published, why don't they at least give it to march to see if the SP goes above a penny before they do this reorganisation route.
I believe they may have approach various investments groups but been unsuccessful in raising funds.
They are now asking shareholders to lose 90% of their remaining investment.
The deferred shares are deemed worthless and although they mention .9p a share they effectively are being used as cash on hand and the deferred shares will be used as Remaining shares in the future to raise additional funds.
Bottom line is they are taking 90% of the market cap
I'm grateful for the explanation, but still have questions. Some of the resolutions being voted on suggest (to my untrained eye) to grant the directors more power over the deferred shares than I would be comfortable with.
I'm very happy there's knowledgeable people here who don't mind sharing their expertise - thank you :)
There are 960m ordinary shares with a nominal face value of 1p. The proposal is to reclassify the nominal shares as 960m at 0.1p nominal face value and to create 960m new deferred shares at 0.9p face value. To be more precise:
960,415,644 Redenominated Ordinary Shares each with a nominal value of 0.1 pence
960,415,644 Deferred Shares each with a nominal value of 0.9 pence.
subject to the passing of resolutions 8, 9 and 13.
If this happens then the Deferred shares can be reissued as new ordinary shares up to a value of £320.138.55. (Basically, the company can then issue new issues shares to raise new capital if needed.)
Your shareholding remains the same, only the face nominal value has changed from 1p to 0.1p, (not the market price of the shares) and the company has authorisation to raise capital up to the value representing one third of the Company’s issued Redenominated Ordinary Shares at that time, whether it be rights issue or whatever other means.
Q&A regarding capital restructure
https://www.oxcantech.com/userfiles/files/FAQs%20for%20Investors%20on%20Capital%20Reorganisation.pdf
I haven't read the small print admittedly. But it's bizarre that the proposal is you lose 90% of your investment. Normally to raise funds they do a offering at a reduced price of the SP.
The M.C at present is £8.6 million so they are planning on taking 7.74 million of that for funds .
They are basically telegraphing that your security will be slashed 90% and I'm baffled as to why they're isn't a stampede out the door, with potentially saving 90% of your remaining investment?
Agreed. Which is why I'm hoping to be shot down on my interpretation of things, as it is completely insane!
So if they are going to reduce your investment by 90% effectively on the 28th September. Wouldn't the sensible thing to do is sell now and buy back after the reorganisation.
Seems to me they're should be a stampede out the door to not lose 90% of your investment
Right. So, my reading of it is that they take your shares and split them in two - with one being valued at 0.1p, and the other being valued at 0.9p.
They then wave a magic wand and turn the value of your 0.9p share into nothing.
The company's share value is then 0.1p. Market cap has then gone from around £9m to £900k (which ties in with the blurb in resolution 10 about issuing up to 66% of the issued share capital, or around £600k).
By all means shoot me down in flames, but this is how I read it.