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Could it be ODDO are buying on behalf of Clinigen and so would eventually vote in favour of the offer. I don't know if this sort of thing goes on or not?
Some good debate below but wanted to start a new thread. From today's RNS it seems ODDO are still buying well into the 77's. Always dangerous second guessing their motive but possibly they believe 1) another bidder will emerge? 2) this current offer will not be backed by enough votes? Interested in the QP dream team thoughts??
is what we got, and your telling me that the BoD and Rigg himself doesn't know this?..... the simple fact that it has been 100% radio silence from him since this was announced tells me we got taken in, and for a ride.... and he knows it, no point spouting BS when everyone can smell it, i'm sure they did ok out of this deal, the rest of us got sold short by a country mile
Also could not Mr clever D*ck Rigg have negotiated some clause whereby if Clinigen share price reduced by a certain percentage then QP shareholders would be compensated in some way. Something just to protect QP shareholders.
Rylidan agree that our products will have instant access to greater markets and must be good for the enlarged group. However Chris Rigg was getting excited about our product pipelines potential and value and had just released new products for licensing. Chris knew our real potential and I think he sold us out for 82p (if we get that much). Still disgusted.
Why did all the large buys get declared late? Hiding this information should be illegal. Definitely deliberate as someone is accumulating. Don't forget Clin results out soon, and Riggs may know more than he's allowed to say. That may be why the deal is recommended. Anyway im sure QP. Products will sell more and have a larger market through Clin. Must be good for both of us.
Thanks SamJSung for your comments. I may hold, simply because for me the 37p covers my initial investment, so the shares in CLIN are freebies, but that's not the point, and i too am not convinced by their CEO, that said, he has played a blinder here and screwed us over, so, will their share price recover by the November BOE news, perhaps, and that would allow me to benefit fomr the full offer, alternatively i may do what you did and just cut and run with a small difference but much more convenience As for them shorting their own stock, it would not surprise me
At this moment in time if you held 10,000 share you would benefit by £135 by sitting this out but if the CLINS SP. drops by a further 34p you would benefit by selling at the current price of 77p but by which time would not be available. CLINS probably shorting their own stock to drive down the price and at the same time driving down the price of QP. They then pick up shares at 72p instead of 82p, great business but would be highly immoral and maybe illegal if true. Wouldn't count it out the way this process has been managed.
Thanks SamJSung for your comments. I didn't think I would but I have changed my mind and sold 25% of my shares already at 78.2 /78.5 p per share. Gutted really as I thought QP were the real deal and that Clinigen would have paid a £1.00. Smells fishy to me.
http://www.proactiveinvestors.co.uk/companies/stocktube/8079/quantum-pharma-acquisition-the-logical-next-step-in-growth-story-for-clinigen-8079.html Zacks Investment Research cut shares of Clinigen Group Plc (NASDAQ:CLIGF) from a buy rating to a hold rating in a research note issued to investors on Friday, September 8th
The issues we shareholders in QP face ... are Clinigen share Price Volitility, 10% approx off their peak price of 1149p..What has driven this and other shares lower is BOE threatening to raise interest rates etc, Pound / dollar rate etc... This volitility will remain I believe until the Budget in November...then who knows what might happen... The 82p price whilst disappointing was I suspect the lowest price the instituions would accept for their holdings ... A la Henderson .. These irrecvocable commitments to Clinigen really stop any other bidder entering the frame unless it was a quick substantially higher value than 82p and in cash.. This is a very unlikely scenario..An alternative bidder would I believe already raised their heads by now and none have.. We are therefore linked to the performance of Clinigen shares which as as stated are already 10% below their peak... and this is before any small shareholder sell off when QP shares are converteed.. Listened to the MD of Clinigen on Proactive Investor talking about the QP acquisition... On a personal note he sounded very much like the Ex QP CEO Andrew Scaife (Just my opinion) .. He did mention that Chris Rigg would be joining the Management team of Clinigen ( this might have helped slightly persuade him to support the Clinigen offer- only joking he would never do that ) He will be able to cash in his Options (6 million I think at the last count and will receive both substantial cash and shares from his new employer.. What are the options... Sell up now and get 77p ish per share cash or if you are a believer in Clinigens future then let the offer run and take your cash and shares...It was the Andrew Scaife look alike / sound bites ( a very personal gut feel only) that stops me remaining on the Clinigen Bus journey.. Good Luck all.
I think we are committed, the BoD has commited their share holdings to the deal i think, and there was a reference to a guaranteed figure (percentage) that have confirmed support, plus, they have been hoovering up shares while the price is falling with their share price, and effectively doubling their saving on every purchase, so they will i am sure have enough shares/votes to force it through if that were to be required, the only way out would be a counter offer, but as they are now holding so many shares, i suspect that would be a lost cause, and anyway, no one has even been roumoured to be interested. What i still can't get is the acceptance of a deal which is within days worth less than the SP at the time of the offer, it's like they had us over a barrel, or offered something that simply could not be refused, which they sure as h3ll havent in the eyes of PI's and II investers alike, so the only think i see left is a job security deal with the BoD so they basically sell us down the river to line their own pockets.... but again ZERO communication from anyone at QP is very very poor... and why i ask? no explanation or break down of the deal and the fundamentals ? given we were supposed to be slimstreamed and a much more efficient business now, with a very good looking mid term forcast
Boxerdog and Crystal I think we are on the same wavelength. But if they have only 19% acceptances from Harwood and the board can the offer be rejected or are we committed to it? I wonder what SamJSung thinks of the offer now he has had time to digest it? Where are you SamJSung.
oh... speaking of being screwed, is the website layout knackered for anyone else ?
yeah, we got screwed, i was afraid £11.11 was way too high a figure to accept as the baseline for the value of their shares, the BoD must have got some serious sweeteners to screw the company over like this, especially when as said, the current drop (now pretty much £1 since the level at the time of the offer) in CLIN's share price is going to result in a very good discount for them on the offered price, Rigg should NEVER have accepted such a heavily weighted deal, and should have demanded more confirmed cash, 37p was an insult, and to add injury in that insult they've accepted it and the CLIN price is doing what tends too happen off of all time high levels... and dropping, and then there's the only communication from QP. has been in an a55 kissing comment in the the CLIN offer RNS..... And as someone pointed out below, considering we were at 90p 12 months ago, with all the dead weight baggage sucking up funds, this acceptance is disgraceful, we were hardly a million miles off 82p our selves prior to this offer to rip us off, which is harldy anywhere near out 12 monthly high, and is now looking to be less than the SP at the time of the offer. To put it bluntly, Rigg and the BoD f'd us over I'm now looking at this closely, we need some firm dates for lock out, to give us a decision date when to jump ship rather than get/hold the CLIN shares.... because right now, it doesn't have to move much more for me to be better off selling my holding now, problem is we are tied pretty closely now with them, and i suspect there will be a flood of sales of the given shares as soon as people get them, i think there will be a further drop, taking them further away from that £11.11 figure by quite some percentage. Plus, do i want to have that investment capital locked in to this, when i can get my cash out and have it available immediately and be done with this disgrace
The BOD. have been negligent at best IMO. 83p is only available if CLIN hold £11.11 almost a all time high. The board have been compliant in this skulduggery. According to Rigg we were a lean mean fighting machine, profits up debts down and a string of products to come to market on the back of a batch introduced within the last 12 months. Dosen't make sense unless you're being generously compensated as they are.
Thanks for clarifying that point. I think our BOD have been too generous in agreeing a £11.11 price but that is water under the bridge now. I wonder if there is any chance of our shareholders not accepting this offer?
No Robins certainly not, at 75p it much better to hold IMO. the only threat to the offer price is a receding price in CLIN. which is off around 10%. It would have to drop more before 75p becomes an option. CLIN. will be over the moon to be hovering up as many as possible at 75p. At 75p providing the SP. of CLIN. stabilizes at its present level it provides a buying option for some.
Boxerdog not sure what you are getting at. Are you saying if one currently owns QP shares then it is better to sell them now rather than accept the offer? And why are these people on the last 2 rns's buying loads of QP shares?
Why pay 83p a share when you can get them for 75p CLIN. must think. Getting to the stage where 75p appears an attractive proposition to buy in. CLIN. have fallen say 10% and QP. 8% below the offer,by waiting for the takeout at least you'll get 37p and if CLIN. don't fall off a cliff this offers the best return at present IMO.
Probably big sell going to show soon.
Todays price represents the 10% drop in our suitors SP. on which the offer is formed. If a further 10% drop occurs then expect QP.to fall in line, the only guarantee is the 37p so the offer might end up being worth more 73p than 83p and that really would represent poor value considering it was 90p just 12 months ago with all its baggage still attached.
Drip down to 75p.
Interesting that sand grove have just opened a long position at 78.9p for 7.5m shares. Add the cost of the cfd and they must be expecting this to break 90p after the Clin results. Note that we are now toed to the Clin share price. Half of our value is in Clin, so I expect us to rise or fall by around half the Clin movement. We did today.
Hiya I hope that most people averaged down. I certainly did. It really looked like a bargain after the restructuring. I wish I'd averaged down earlier, but the time window was quite small to do so, with quite a lot of risk attached. It was far less risky at 55p