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And I'm not talking about the Nasdaq, I'm talking American Pink sheets.
Last year this time the SP was 87p, in July it hit a high of £1.45. only 3 years ago the SP was £11.75. Then in the space of a year it drops to 10p. Unbelievable. Now I understand that AIM stocks can be very volatile but how do you go from £11.75 to 10p in under three years? Something very very fishy. MMs playing with the SP however they like and the FCA and all these other impotent organisations say and do sweet nothing. The AIM is the biggest pile of poo out of all the markets in the world. Rip off Britain is an under statement, it's an utter disgrace. You stand more chance with the American market and thats a fact.
Thanks for replay SB
Ahh OK, was hoping it was going to be the big announcement
The Extraordinary General Meeting has been arranged to approve the issue of a further 26m shares at 20p to comply with nasdaq rules which curtailed the original placing to 20% of shares in circulation - and resulted in 20m shares being issued as part of the first placing. Sinai and Harwood have already confirmed they are subscribing for additional shares - will see who else participated in due course assuming all motions are carried - which they will be. Nothing else at present. SB
I wonder what this could be 🤔
Good news even :)
Hope it's bl00dy god news, I'm sick of all my investments being burned to ash :(
Big problem with AIM these days is lack of liquidity for loads of shares....
A lot of us knew how this would go after the "offer" announcement. We all predicted the discounted placing and now it slips further with no more updates about the "offer".
The whole of AIM has become one big joke. No wonder people are investing abroad or in other assets now.
Mikodox, you could be right. We could both be right. Once the reccomendation lands there could be more than one offer. More than 2 if you look at who is interested in ckd and diabetes 2. Astra Zeneka and Thermo Fischer have drugs for ckd. Eli Lily and others have drugs for diabetes 2 weight loss. It will grow like a snowball.
Trickymatters - I've got a funny feeling the bid will be coming from Mount Sinai School Of Medicine, they already own 16% of the Share capital. Here's another reason:
https://reports.mountsinai.org/article/neph2022-_1_renalytix-goes-into-clinical-use
Easy to drive the price down with fast algo trading. Biotechs getting smashed last month again, XBI index off 10% in the last month a good indicator. Any hints of delay to interest rate cuts and biotechs are one of the first sectors to get knocked down.
Will be the next substantial catalyst. Then they're likely to confirm the bid. It could come anytime. The consultation ended mid March. The US government have contracted for this test and the insurance authorities are already signalling that they are inclined to use the test for those eligible. Should triple bag at least imho.
Wonder if the bid story was just a scam to raise the price for placing?
WTAF was that all about, loads of £32 sells...? Looks like someone is trying to send some sort of messaging unless it was an algorithm going nuts...
One of the transactions today is mine and it is a "buy" and not a "sale" as indicated.
As the prices of all transactions this morning are much the same , I suspect that most - if not all - are buys.
Yes very strange, I’ve not seen this before if anyone has any thoughts??
Yet broker still allowing trades to be placed
No trades.
U.S pre open 6.7% up
What's going on with this share.. still showing yesterdays closing proce
I think that was the previous position prior to the fund raise - and was issued as a statutory update resulting from the updated 119m shares in circulation. NR holdings appear to have subscribed for a further 1.7m shares as part of the 20p placing - taking their total holding to 4.7% (5.7m shares) - that said 8.3 takeover code reporting forms have various interpretations....SB
Buys 3.34% of Renalytix part of the Rothschild family.
Very plausible theory SB. Whether it's them who've bid or not I think it's very likely they will be in the mix once the timetable starts. Which I am guessing, will be after the test is confirmed by the US health insurance authorities. That's a near certainty since the US government and the Veteran's Association have already agreed contracts. The mood music during the consultation also sounded very positive. I will get some more of this stock for my ISA in the new tax year if I'm not too late. Otherwise happy enough.
Interesting Silverblade. The Polar angle does intrigue as they were dumping REDX recently (not to be confused with RENX although REDX are a med related company as well). The weird thing was they were dumping a perfectly good company (albeit not a sexy company whose share price dropped) and yet they pumped loads into RENX.
Why? I think because a sale is happening here and that it will be a reasonable offer. Let's wait and see. GLA
Really useful post MSA - thanks. I have another theory to throw into the mix. Given the pre-existing relationship that exists between RENX and AZN - I do not believe AZN would have made an unsolicited approach for RENX and would not class them as a strategic diagnostics company either. What I think may have happened is an approach was made from the unnamed potential acquirer looking to access the growing CKD market and which was pitched at a level which interested major shareholders or you imagine it would have been dismissed outright. The formal sale process was introduced to allow others - and lets assume in particular AZN - the opportunity to consider making on offer bearing in mind the potential offer from the original acquirer. Also bearing in mind the extended timescales for such activity, and the reality of the existing cash position, a fund raise was carried out to ensure sufficient funding to see this process through to conclusion. The fund raise was well supported by all major shareholders (with the exception of JRC) who would have been aware of the likely level at which the original offer was made - or at least ball park. Sinai and Harwood both put money into the first fund raise closing, with additional monies already committed to the second closing. Other shareholders have updated their holdings via form 8.3 notifications based on the first closing 119m shares now in circulation; with a further 26m shares to be issued as part of the second closing which will require to be approved at the next AGM taking shares in circulation up to c.145m. Sinai, Harwood and RENX directors (McCullough, Sterling, Fleming), acting in concert, hold close to 30% of the issued shares. Other major holders who all took up the fund raise included Polar Capital (13.8m); Penwater (8.5m); Rothschild 5.7m); Lombard (4m) and GGH (1.5m). JRC retain their previous 8.5m holding. I think something in the region of 70% of RENX is now owned by these combined parties. Interesting times...SB