The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
And if black humour is any protection against serial disappointment, I might point out the following ...
The papers tell us it will take 685 years to clear the NHS backlog, currently at 7.53 million.
So if AVO take another year or two - or twenty - to get re-financed, shouldn't be a problem.
I can always leave my shares to my grandchildren - or to their grandchildren.
They are updating website - see recent 'AboutUs/NewsRoom' article.
Might also suggest Twitter (@AdvOnco) and LinkedIn (Company/advanced-oncotherapy-plc/).
Also, this board (if anyone hears anything please post).
Hi Kenj
Regarding 'approval by shareholders', 'shareholder vote', etc, do we actually still have a stake in the company now that our shares have been cancelled?
Or does the cancellation merely mean we can no longer trade those shares on a public platform (i.e. the AIM market)?
I suppose it depends on the solvency status of the company.
I would imagine most on this board own shares through nominee accounts held by their online platforms. My platforms have not provided any information on the status of the shares - they remain in my portfolio, though they cannot be traded and have zero value.
Anyone any clearer on the legal position here?
This is becoming bizarre.
IWant, you're correct in saying that the LSE is not being consistent. There is more information in your link than was posted on the RNS which I read this morning.
Moreover, the Company says is it now 'confident' of receiving the first tranche, a word I do not recall being used in earlier RNS's (e.g. 03 May).
However, as we as shareholders no longer have a material interest, what good is it if the Company does keep us 'abreast of developments'?
Any thoughts?
Like the death of an aged relative, long expected though, when it happens, a shock nevertheless.
I sincerely hope no one here has lost more than they can afford to lose.
Good luck in your other investing activities, and best wishes to all on this board.
"Regulator is a joke". Second that.
Interesting set of articles by Charles Archer on why AIM is broken, and possible solution.
I use Ballox's convention ...
bubbleyou.bubbleyou.bubbleyou.share-talk.com/aim-market-reforms-heres-15-ideas-by-charles-archer/
I might add, it's good to see this board has not descended into the aggressive tit-for-tat name-calling that so many others fall into.
[ Even though, with the suspension, we have more reason than most. ]
Long may that continue.
Well, it is something. AND the article has been posted on the website within the last 24 hours.
For what it's worth, I emailed the LSE regulators to ask whether there was an absolute limit
to the time a share could remain suspended.
They could not clarify beyond what we already know - i.e. that a share is suspended initially
for up to 6 months, but can be extended.
So there's no reason in principle the extensions cannot be repeated indefinitely.
I've been critical of this share since this the deal was signed a year ago - the deal that was supposed to finallise everything, but didn't.
Paradoxically I must say that today's news on Anglo is - for me - the best news there's been since then. I feel marginally more optimistic, despite yet another s/p fall.
There was talk a while back that Glencore were in the frame for a takeover. So might there be a bidding war? And if so, might the winner use the spare change to mop up the small fry?
The best outcome for Arc is surely a complete sale. Does this bid make it more likely? I think, yes. At the very least it puts a spotlight on major copper producers and the worldwide squeeze on deposits.
Another possibility is that a midtier supplier might wish to attach itself to the coattails of a major, whether BHP, Glencore or some other, by buying the 30% share (or, more accurately, the 66% of 30%).
If any of this happens, a takeout price would be nowhere near as high as we could have got years ago when the Exclusivity Agreement was signed - thanks, Schirnding.
But we must be thankful for small mercies which may come our way.
Good Lord - is this the first substantive good news we've had since Jun 23?
Hi Adw198, welcome and best of luck with your investment.
However for me as a longterm holder, Arc has been pretty disastrous, with s/p depreciation really since the Anglo exclusivity agreement was signed back in 2020.
I once hoped for an s/p in double figures. This seems unlikely this decade, but it may reach 3/4 which would be good for you at your entry level.
The JV is sound. The problem is the Arc BoD - their greed, incompetence and misinformation. You yourself point our a new wrinkle. Anglo surely must have plans ready for the drilling season which is imminent. So where is the 'rich news flow' that Schirnding promised after the JV was signed?
The fear is that even if value does accrete, Schirnding will somehow blow it for retail holders.
[ Love to be proved wrong - we can but wait and hope. ]
Once again, best wishes
"As a result of the cancellation of ... shares, each shareholders' percentage shareholding will increase ..." RNS, today 10:01 AM
What?
Shares before issue : 1,232,318,465
Shares after issue : 1,467,807,345
Dilution : 16%
Buyback : 22,539,747
Appreciation : 1.5%
Just who does this moron thinks he's kidding? Do the maths, Schirnding.
On another board, I referenced Monty Python's Black Knight. All his limbs are lopped off, but he still keeps coming. "It's only a flesh wound, come back, you cowards ..."
For AVO, we've seen employee tribunal rulings, ADAM dissolved, now this Mabey group's winding up order.
Nothing serious, you almost hear them saying, just another month ...
An RNS which - as someone pointed out below - is pretty much a copy-and-paste of earlier RNS's.
However, the RNS of 02 Jan did state in addition that Swiss subsidiary ADAM had been granted a reprieve from creditors until 20 Mar 24. The Swiss link below (IWant, 10:24) indicates that this time limit is up, and that ADAM has been liquidated.
Is anyone clear on whether AVO actually has a functioning future if it no longer owns ADAM?
Two excellent articles on the problems on AIM from Charles Archer. Find here (or on Twitter, #ARCM) :
https://investingstrategy.co.uk/financial-news/is-the-aim-market-an-unregulated-mess/ (Nov 23)
https://investingstrategy.co.uk/financial-news/is-the-small-cap-market-broken/ (Mar 24)
There is a core of unscrupulous directors who have shafted their companies. But the main problem, he convincingly argues, is that regulator FCA does not - err - regulate. And it's not just companies who escape scrutiny, but also NOMADs and market makers.
In the November article he lists - chillingly - firms once praised to the skies - which then went bust. See his examples Dog Star Minerals or JPH (names changed).
The March article puts ARC's ultra-low issue price in perspective. It's not the first.
(Similar problems also affects the main market of course. The stream of companies leaving London for New York is becoming a torrent.)
DonkeyOatey - message noted, reply sent a few days back. Any joy?
I hope we're not tilting at windmills ...
So, the company in its wisdom issued new shares to buy back old shares.
Shares prior to issue: 1,232,318,465
Issued shares: 235,488,880 - Percentage: 19.1%
New Total: 1,467,807,345
Shares cancelled: 22,539,746 - Percentage: 1.8% (I had estimated 2.5%)
Adjusted new total : 1,445,267,599 (My calc)
Adjusted new total : 1,446,014,263 (RNS)
I.e. They ssued 19.1% to buy back 1.8%.
Wow. Is this all part of that deal of the century?
Come on AVO. Time to put up or shut up.
I'm not a royalist, but I've always admired a certain you-know-who for her quiet dignity. She - and Britain - deserve better.
Sort out your funding and get the cancer treatment technology out there. Or liquidate, sell the patents, and let others complete the task sooner rather than later. We, the shareholders, may lose out. But at least those with this dreadful disease may reap the benefit.
They, and we, have waited too long. It's time to wrap this up.