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"getting at"
One thing that's obvious is a lot of people have been sceptical of the motives to delist. But I've seen this share on days when liquidity is really low and it can just drop in price with few little trades. I think company is getting out the outlook if they remain on AIM. i.e Having to do fund raisings at dumb price levels just because.
Rayte.i saw this yesterday just by looking at the fallers thought rthe same it has fallen too much.
This must recover in the next few weeks even with risk on day traders this must get back to 7/8p possible or am I being mistaken here.
Voluntary delistings can either wipe you out or make you. The drop here is ridiculous. Id understand if it was a forced delisting but not a voluntary one.
Redx won't be know to many investors. It's been in my watch list for over 6 months. So I had my finger on the ball when I saw the drop. I couldn't believe my eyes when I saw it at 4.4 to buy.
This might get the attention of a few risk LT investors now it's fallen so low. Esp with recent news.
The chair Dr Griffiths is also a highly respected professional and sits on the board (non exec) of Johnson&Johnson and BAE.
I wouldn't be too worried about being shafted with her on board
Yes, and also just read this bit in a Times article from mid Feb:
Lisa Anson, the chief executive of Redx, said that most of the large specialist biotechnology investors were based in the United States, “so inevitably you start to look more and more towards the US investor base. And in order to access those pools of capital you do need to be ultimately US-listed. So we will look at that as a board. We have managed to attract US investment, notwithstanding the fact that we are listed on Aim.”
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Asked whether Redx would look to switch its listing from Britain to America or would have a dual listing, she said: “The board will look at quite a number of options.”
As you said yesterday moniman, perhaps the reason to delist is just to get the valuation up private - before a US listing within 12 months from...?!
The fact that the Chairman said only a few week ago......."Redx wishes to clarify that it is not currently in any process relating to a listing in the US, nor any other jurisdiction......." but subsequently she says this week...."In determining whether the residency test is satisfied, the Panel has regard primarily to whether a majority of a company's directors are resident in these jurisdictions. As noted above, the composition of the Board is expected to change shortly following the Cancellation and Re-registration and it is expected that such changes will mean that the Company no longer meets the "residency test" from that time.".....The Company remains committed to the UK life sciences industry and intends to retain its head office and primary research facility following the Cancellation and Re-registration at its current location in Alderley Park. Following the Cancellation and Re-registration, the Company will continue to evaluate the optimal corporate structure to ensure its long-term success, which could include listing on an alternative exchange at a future date, should this provide appropriate access to capital and liquidity to support the Company's strategy..... "
I am no expert on this one but at 4.40 seems a good buy it could rise next week maybe by 2 or 3 p not sure I bought in let’s see how it goes.
It's funny. I nearly jumped in here with £20k at 19p. I've been watching it for a while. It's been on the radar a long time.
Today, I took a small £6k long position. But I'm really tempted to just leave it. This price is just ridiculous and represents a gift I believe. You just have to be prepared to lock your funds away.
Yes, you could get shafted. However, if it rises next week (big if) then I will top slice bit I intend to leave it where it is.
It's a high risk, but at 4.40 (my buy in price) I think that risk is greatly reduced.
It's all about timing a buy at the right time
Interesting how C4 seems to have held up better with similar type of announcement. Guess the PI shareholder base here was just weaker at the onset...
@ Rayte..
Like you say an £80million company gone down to £16 million in just four days just because it's coming off the AIM market.... to quote the Chairman of Redx Pharma
Dr. Jane Griffiths, Chair of the Board of Directors, Redx Pharma, commented:
............."The Board believes that as a private company we can access a broader universe of specialty investors and, accordingly, a larger quantum of future funding required to execute our strategy and maximise our value in the interests of all our Shareholders.".............
I don't think they have maximised any value for all shareholders this week 🤔? JMO Adyor!!!!!
Taken some after watching the carnage
Also apparently Elon Musk in line to buy SND , see the info on that board
I took a punt let’s see how it goes.
I think it has potential to go up a few pence hopefully.
Lots of big buys gone through.
Well it's got to be worth it at this price not the farm though.Nightmare for LTHs totally understand.Bought 35k see what happens in the future GLA
Do you sell your shares after delisting ?
Thks in advance
The question remains, what are they really upto? The justification for a delist isn't really valid imo. In the circular it mentions new members of the board are going to be appointed from a different jurisdiction. Presumably that is the US. The largest shareholder Redmile are based in the US, but I believe they already have a seat on the board. Are they going to realist in the US? Could it be a reverse takeover and the target company are getting a seat on the board? Clearly something is already setup for post delisting. The percentage of voting already in the yes camp suggests that Redmile and another institutional investor have agreed. They must know what is about to occur and they are OK with it. If it was just one institution I'd be very worried, but 2 seems to suggest it might not be catastrophic for any holders. Bottom line, I think it's worth a pint here to see what transpires. It could easily be a x10 if the news is anything but dilute existing shareholders into oblivion. I doubt that is what is occurring if 2 institutions are up for it. You'll still be able to sell after delist. I think a couple of months and you'll find out. Fingers crossed for the reverse take over and US listing.
Some big buys gone through,This does seem not a bad price at 4.5 might give it a go.
Fre1
Next week this will not be 4.40. Ive put my money where my mouth is. However, at this price it is very tempting to hold LT
16m MC its was 80m 3 weeks ago
Its going to delist but might be worth holding for a year. Ridiculous MC right now delist or not
I think it might be worth a punt at this level or could this go down even further.
Who knows it looks like a good price but this is the stock market.
The management said the following results and sale of KRAS to Jazz Pharma.....
Financial Highlights:..RNS 15/12/2023.
· Cash balance at 30 September 2023 of £18.1 million (30 September 2022 £53.9 million);
· Post-period a £14.1 million (gross) £13.6 million (net) equity financing was secured with existing institutional investors at market price to fund the near-term value inflection points, providing cash runway into Q3 2024;
RNS dated 7/2 2024...
Further more, following the sale of Kras inhibitors to Jazz Pharma, the company will receive another $10 million...
"......Redx to receive $10 million upfront; potential for up to $870 million in development, regulatory and sales milestone payments in addition to royalties on future net sales....."
.........This agreement will allow us to collaborate on the advancement of novel KRAS inhibitors and we look forward to supporting Jazz in progressing these candidates through IND-enabling studies. Partnerships remain a key pillar of our corporate strategy, allowing us to advance what we believe are differentiated molecules in areas of high unmet need, while also creating long-term shareholder value through non-dilutive funding, with the upfront milestone payment from this agreement extending our current cash runway into 2025."..........
So it doesn't need cash anytime soon if we believe the management's recent statements? 🤔 JMO Adyor!!!!
At this price even on a retrace it must be worth a punt
Better stocks out there
Can't trust management - they'll need future funding
Mind you it looks like there were a few porkies being told by the company in this recent RNS 14th Feb 2024, denying press speculation about relisting somewhere else? Adyor!
https://www.lse.co.uk/rns/statement-re-press-report-aqoj8ir7mlbv2br.html
Moniman, you were right, however there will be future funding required and most pis do not have funds or chance to participate, so their tiny holding will be diluted to nothing before the sale.