Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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DISCIPLINARY DECISION NOTICE
Pharma C Investments PLC (“Pharma C” or the “Company”) Date: 10 August 2023
Aquis Stock Exchange Limited (“AQSE” or “the Exchange”) announces that Pharma C Investments PLC has been sanctioned and fined £30,000 by AQSE, for the reasons given in this Notice.
• On 30th of June 2022 the Company announced that it had “raised £200,000 before expenses by way of a subscription” and that the shares were due to be admitted to AQSE “on or around 8 July 2022”.
• The funds were not received by the due date. The Company failed to update the market on this, or on its ongoing attempts to secure the funding, until 18 November 2022. As such, investors had a false impression of the Company’s financial position from the beginning of July until mid-November 2022.
• The Company failed to update the market in a timely manner and was unable to provide any documentation (such as emails or board minutes) to support its representations to AQSE in response to the Exchange’s enquiries.
• Also, on 30 June 2022 the Company published its Annual Financial Report for the year ending 31 December 2021. The Company did not convene an AGM until 20 December 2022, which was outside the timeframe set out in the Companies Act 2006 (the Companies Act).The Company failed to publish its interim accounts when due on 30 September 2022 whilst it attempted to secure funding, such that investors did not have access to the most recent financial information about the Company.
• The Company failed to act with integrity towards its shareholders and potential shareholders and, in doing so, impaired the reputation and integrity of the Exchange.
anyone know what's going on? did the dosh they announced arrive? where's the beef?
- Sub £2m mcap.
- £1m cash in the bank.
- (Similar in nature) Greencare Capital has a £4.5m mcap, Ananda Developments at £8m.
- Arguably the strongest BoD of the 3.
Yes this is a punt as they're yet to announce any investments, however they have large insider ownership with a 1 year lock-in period. Feel relatively low risk and I don't think it'd take much for a SP rerate.
Couldn’t find on HL or IG