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Several sizeable buys showing in the last few day’s, hopefully things being lined up in the background. Some news would be nice.
The "our story" section on the company's page of the London Stock Exchange website should be updated by U.K. SPAC (the responsibility for updates might also include the page header).
Why drop the price so much first thing ? At least it’s tempted the buyers , probably be level soon !
More sells than buys and the price moves up something fishy going on ?
Well this needs RTO news soon as it’s now dropping like a stone !
No updates all week?What are we saying guys and gals?
There’s absolutely no point trying to use Richard Edwards as a link to anything - he dips his fingers into everything …and pulls them out just as quickly!
Helluva trader!
Fair play earache, that is a cracker! Keep it up
I think you're onto something there Mole......
I actually asked CF the question on his latest webinar and he confirmed he would not be using a SPAC for ORPH spin outs.
If I had a pound for every time there was RTO rumour based on the directors role in another company that didn’t come to pass, well, I’d have at least a tenner this year.
I’m sorry but that is even more tenuous than a direct shared director link.
We will have to wait and see, but you may as well say the cleaning firm that SPC use also do Hellenic’s director’s ex wife’s house. ….coincidence?
I'm not really convinced of an ORPH RTO here, CF in a recent presentation stated that he wanted to use a clean listing and hand over something like 95% of the share count directly to ORPH holders. The share structure of this SPAC doesn't really suit the above criteria - if it did, it would mean massive dilution and wouldn't bring a good return to current holders of SPC.
FWIW I'm not particular sold on the idea of a massive screwup having taken place either, nor read through that withdrawing an application for listing on the AQSE Growth Market reflects on the ability of Peter Jay to bring a good deal in.
yes, bigtime it's all in the timing and here's the proof... Peter Jay used to be a corporate lawyer and a partner in the firm that is now DAC Beachcroft LLP.
DAC Beachcroft LLP. are handling the imminent spinout of Open Orphan's Orph Pharma...
Mmmmm Coincidence or cast iron copper bottom, no denying it link - Orph Pharma going into UK Spac
What do you mean tenuous???? Don't be ridiculous.....
Oh please DYOR, never knowingly undersold, your home is at risk, etc, etc.....
What if they haven't screwed up at all? I'm more of the view that we are slightly behind the curve here, that the AQSE was deemed unsuitable, or irrelevant even, given what the RTO plans now are. There is little that the Chairman can say due to price sensitivity. For all we know, negotiations may well be at an advanced stage with a particular suitor who has main market, rather than AQSE, ambitions. I've added this morning on the price drop ahead of what I still expect to spectacular news in the not-too-distant future.
earache
‘ Also, why has Peter Jay, CEO/Chairman, brought in specially to close this deal screwed up in this way?’
The mind boggles, if he has trouble with an aqse listing how are they meant to get a significant deal done.
Let’s see what comes out of the hat next
Emailed Peter this morn asking for clarification response as follows..
“Dear Joe
This morning’s announcement does not indicate a significant development in the Directors’ efforts to locate a suitable reverse and to enable shareholders to obtain value from their shareholdings. It results from a procedural issue and does not reflect on the Company or its strategy.
The Directors are of course prevented from disclosing any information that may be price sensitive and that is particularly true at times like this.
Please be assured that shareholders will be advised of developments as soon as Directors are in a position to do so.
Kind regards
Peter”
Isn't AQSE a market with no volume or liquidity (and only one market maker I think so wide spreads)?
So probably a good thing.
Does seem strange, not sure why they applied or withdrew in the end. Also their RNS come out at weird times. A little bit of excitement for a while! Now back to where we were a couple of weeks ago playing the waiting game.
AQSE do accept cash shells, but have said they’ll only except them in select circumstances when they have a particularly unique or promising offer. This is why the SP shot up 30% on the news. Very strange to see that the application has been withdrawn on the day they were due to list.
Why apply when they don't accept cash shells?
To me it smells of they knew they wouldn't be accepted and create confusion while they lap up the shares
They may have tried to join AQSE to buy more time to close a rto deal and stay listed and avoid suspension post 6 mths. I believe if you are listed on AQSE as a SPAC you have up to 2 years to rto. I think this is what QTZ has.
RNS To me this looks like this request was rejected in the absence of any explanation
To announce the withdrawal of the application without any reasoning or explanation is poor form. I have to admit, the comms from the board hasn’t exactly been very forthwith. The next update will need more meat on the bones or people might begin to lose confidence.
Oppps not a good RNS and not what I expected. Luckily this was only a punt share for me but expect sentiment to go down without further updates to the situ
This was from the last RNS 'admission is now expected to occur on or around 11 June 2021, subject to regulatory approval'.
It seems the regulatory approval was not forthcoming, hence withdrawing the application. It would be good to have some more information if that is the case and why not.
They spend 6k on releasing RNS’s to tell us nothing, very strange