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I think we can expect another from some IIs for sure as this is easy money for them.
Good biz, growing with parent - they just need to put right people in the management team and make Yourgene profitable and later sell it to a big company at decent profit!!
Institutions own 36% of the company. They will decide if this low ball offer is accepted or not.
For those of you who aren't looking into legal action I hope today's events change your mind:
- The bod organise a discounted placing where they load up and Pi's are limited only gir an offer to come in that sees the majority of them well looked after
- Bill Chang gets a discounted lab in Asia
- Pi's are left to hope for another offer that in the scheme of things will mean very little for those who've been here longer than 6 months
Disgraceful
Since market knows Yourgene has a buyer and that they can grab Yourgene for this cheap - I expect more offer to be announced in next few days !!
Yourgene is not a bad company it’s just their management is run by bunch of id**ts who have no idea of doing business at all!!
Toiboi, exactly right, hence the distressed sale no doubt.
This surely isn't the strategic partner they were on about?
This offer is a joke, but I feel if we didn’t have an offer, Yorgene wouldn’t be around at the end of the year. Let’s just hope someone comes in with a better offer
Stas. Just shows what a desperate position they are in to sell at this price. Maybe they are expecting some counter offers to come in.
So they have only 26% so far. Maybe the rest will say stuff it?
Seems to me any price under 0.5 is a free ride, low ball you make your cash and some at 0.522 AND you have a free ride at a chance of a second bid.
Unbelievable how can a company that has gone through what yourgene has to set itself up for growth after all the consolidations, inward investment of covid monies etc. then sell out for less than 1 years revenue, how can this even be legal, I can't see the shareholders accepting this at a vote, I'll vote against, I can't see them getting 75%.
I mentioned Novacyt before with their big cash pile and synergistic target market. BUT not this price!
We bought coastal genomics for 16.5 million 2 years back which had a revenue of just 800k. How can someone in their right state of mind accept this lowball offer.
LR and directors shame on you !!
75% of Votes cast needed
As predicted my fill or kill missed so added 500,000 shares at .48p. Why? To feed the buying and in the hope of a revised offer or an alternative bid. Wait and see.
Hi bakky ...👍
Twix, GLT... Changed your minds about Andyken yet? I say back him now.. nothing to lose . If everyone gets onboard it will be a goer
Kill orders normally take longer
MMs will load up first. Might not get a chance at a discounted price?
Rather than commenting here on how unfair the offer is how many of you have placed fill or kill orders this morning? I did just now to double my stake, if the sp pops I can make a bit of money and still retain a stake in YGEN.
Anyone got L2 looks .40+ 🤨
Bill Chang is INEX he's been gifted his own lab and will run that through to success. Hence all the upfront costs. This has all been well orchestrated!
He's got the Taiwan deal cheap hasn't he?
Lyn Rees sanctioned a deal that gives him a brilliant profit on the millions of shares he recently bought in the placing after the company had smashed the price down from 10p in just a year, 20p the year before and they have the balls to compare the offer against all sorts of stupid measures, like current SP, 3, 6 and 12 months averages when we have just sunk all the money we made out of Covid into getting the company into shape to make money. How can an offer of LESS than 1 years revenue be considered welcomed. Lyn Rees you were always an incompetent amateur, now it seems you don't fly straight either.
27th April FY23 revenues above market expectations
Yourgene expects to report revenues for FY23 of £19.0m, above market expectations
Today: sold for £16.7m
What the hell must bill Chang be thinking!
Directors and biggest shareholders agree deal . I expect the rest will follow. A bidding war would be great.
My view is with patents and growing ranger portfolio the fair value should be in the range of 5-6p.
Imagine if the megalab is signed contract can run into multi-million dollars. This is a lowball offer which should not be acceptable to any Long term shareholder!!