Heiq Share Price (HEIQ)

The recent example of DEST (Destiny Pharma) shows the risks with HEIQ, as there are some parallels:-

"British pharma group enters administration after London delisting

Ben Clarke

26 August 2024

Biotechnology group Destiny Pharma has appointed administrators in England, less than two weeks after delisting from the London Stock Exchange in the hopes of securing more capital as a private company. ..."

https://globalrestructuringreview.com/article/british-pharma-group-enters-administration-after-london-delisting

14th Nov 2024 7:00 am RNS Update on Delisting and Potential Capital Raise

Further to the announcement on 22 October 2024 regarding HeiQ Plc's delisting from the London Stock Exchange ("LSE"), the Company wishes to update shareholders on the next steps following its scheduled delisting on 19th November 2024.

Last trading day at LSE

As it is anticipated that the delisting will become effective at 08:00 a.m. (GMT) on 19 November, 2024, the last effective trading day of HeiQ Plc shares ('Ordinary Shares') on the LSE will be Monday 18 November 2024.

Strengthening of financial foundation by means of a capital raise

In alignment with our strategic restructuring and ongoing efforts to reposition the Company for long-term growth, HeiQ is currently preparing for a capital raise in the coming weeks via an open offer to all current shareholders. This anticipated capital raise is designed to strengthen HeiQ's financial foundation and support our ambitious venture scale-up plans to deliver value to all stakeholders.

Therefore, HeiQ has initiated discussions with selected independent investors who have expressed interest in supporting the Company during this transition and beyond. It is anticipated that a number of investors will formally underwrite the capital raise, providing assurance and confidence in our strategy.

Further details regarding the capital raise and open offer terms will be provided to shareholders in due course as we progress toward finalizing these arrangements. The Board remains committed to ensuring that all shareholders are afforded an opportunity to participate in the Company's future.

Secondary trading post-delisting

The Company has now appointed Asset Match (www.assetmatch.com) to facilitate trading in the Ordinary Shares following delisting. Asset Match, a firm authorized and regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility for the Ordinary Shares. This facility will allow existing holders of Ordinary Shares in the Company ("Shareholders") and new investors to trade Ordinary Shares by matching buyers and sellers through periodic auctions. ..."

https://www.lse.co.uk/rns/HEIQ/update-on-delisting-and-potential-capital-raise-s4uenrqhl5q8u5k.html

Note that as at 30.6.24, HEIQ had net debt of US$13.5M., which will now be significantly higher:-

31st Oct 2024 7:00 am RNS Results for 18-month period ended 30 June 2024

" ... Cash at 30 June 2024 of US$5.0 million with net debt (including lease liabilities) of US$13.4 million ..."

https://www.lse.co.uk/rns/HEIQ/results-for-18-month-period-ended-30-june-2024-b2dz9n5ztaf5sg7.html

This needs to be added to HEIQ's market cap. of £6.74M. at 4p/share, to give the enterprise value: probably somewhere in the region of c. £20M.

And if that e.v. is reduced by c. a quarter, it could reduce the market cap. by c. three quarters, to c. a penny per share.

But thre delistin is tomorrow - surely it is late but my question is- is it better to move the shsres from my isa to my nominee or simply sell?

Potential FULL takeover could happen before delisting, hence the SP increase.

Look at these buys last week:

22-Oct-24 08:28:50 1.50 2,160,097 Buy* 1.50 1.40 32.40k O

22-Oct-24 08:28:28 1.50 2,160,097 Buy* 1.50 1.40 32.40k O

Someone knows something...

Investor snapped up around 8% of the stock…now 22% holding!