Nice post GT. I've tried running through some figures myself and I am coming to a similar scenario. As you state, GB and NT have played a blinder. It's a shame the communication was poor, but let's put everything behind us. Thanks for removing your post, cattleman. Just need the other one to disappear now and it can all be water under the bridge.
Can whoever wrote those please remove them?
Well said GT. I understand people's anguish over recent weeks, but some of the posts on here were just unacceptable. Anyway, looking forward, this is perfect news and almost seemed like they planned it all along ;)
cash2, it's a bloody brilliant result. We will now begin trading as N4 and can move forward. I'm interested in taking part in the placing. If anyone hears anything please let me know. We deserve this to truly take off after waiting so patiently for so long!
Onzima is pleased to announce that it has agreed in principle terms conditionally to acquire the 51 per cent. of the issued shares of N4 Pharma Limited ("N4 Pharma") which it does not already own (the "Proposed Acquisition"). The consideration for the Proposed Acquisition will be satisfied by the issue of 36,409,210 new ordinary shares of 0.1p each in the capital of Onzima ("Ordinary Shares"). It is intended that at the same time the Company will seek to raise approximately GBP3.0 million by way of a placing of new Ordinary Shares to fund development of additional patented reformulations of a wider range of generic drugs, to undertake clinical trials for the Company's reformulation of Sildenafil and for working capital purposes. The Proposed Acquisition will be classified as a reverse takeover under the AIM Rules for Companies and, as a result, is subject to the publication of an admission document in respect of the Company as enlarged by N4 Pharma setting out full details of the Proposed Acquisition and convening a general meeting of the Company where shareholders' approval will be sought for, among other things, the Proposed Acquisition and to change the Company's name to N4 Pharma plc (the "Admission Document"). Onzima is gradually monetising its share portfolio to provide funds for the continued development of N4 Pharma and the costs of the Proposed Acquisition. Following completion of the Proposed Acquisition, its trading division will cease to exist. Onzima has today agreed to increase its loan facility to N4 Pharma from GBP209,000 to GBP309,000. In anticipation of the Proposed Acquisition, the Company has appointed Stockdale Securities Limited as its nominated adviser and broker with immediate effect. It is expected that, subject to the completion of satisfactory due diligence, preparation of the requisite documentation and obtaining shareholders' approval, the Proposed Acquisition will be completed in mid-April 2017 ("Completion"). On Completion, it is expected that new directors will be appointed to the board of Onzima, including Nigel Theobald, the founder and Chief Executive of N4 Pharma, and that Professor Mughal and Gavin Burnell will step down as directors of the Company. It is expected that the temporary suspension of trading on AIM in the Ordinary Shares will remain until Completion. Further announcements will be made in due course.
Finally!
Ahh I see!
Is this post aimed at me? If so, I haven't said I respect GB? I'm just expressing that I don't agree with a smear campaign at this stage in the suspension. Some are treating this situation as if we're already de-listed and everyone has lost their money. Tit for tat kind of thing. We're still a long way off that yet.
It appears there's been quite some action since I last checked in here. While it's good that shareholders are coming together, I still have some serious concerns about the approach. If GB and NT are working towards a resolution, is an online smear campaign really going to help? I feel it's just going to **** anyone off who genuinely is trying to get this situation sorted. Doghouse, think you mentioned a rugby injury before keeping you off work. Hope you're feeling better.
Yeah looks like interest is growing here. Took a few today at 2.75p... expect the VOX interview to turn a few heads as well. The BOD credentials are great and it's only a matter of time (some information about what the £1.255 is being used for will massively help...) before people spot us.
Ivys, can't give you definite figures but I've always felt the other investments were negligible. I know FCR has gone down a lot since suspension occurred.
Petty, I agree with your comments about people potentially giving more information in person, as long as it's in a polite, but assumptive, manner. Anything even remotely aggressive has to be completely set aside right now. We know nothing, so how do we know they're stitching us up? We don't. They could well be working hard behind the scenes and just be truly awful at comminication. We're only half way through suspension, not at 5 months and 2 weeks... IF this does get delisted, then by all means, smear GB's name. But it's far, far too early. We have to be sensible and I think GraphiteTech's post was spot on.
I see your point there Charlie. That really is a very worst case scenario, but it could well happen. Unfortunately, I feel your last comment pretty much sums up the dire situation we are in. As mere shareholders, we are indeed pretty much powerless. The best we can do is to continue making a lot of noise and hope it forces someone's hand. I think I just want to try and ensure that everyone doesn't just focus on the fact that we could lose our money, which is the way the discussion seems to be heading. It's a bloody long way off yet. I like the fact that we are all discussing the situation though and can offer varying views. At some point, I think it'll be important to take the conversation of holders off a public forum. You never know who's reading...
I feel like it's important for me to keep reminding everyone that we can't just lose all of your money... Whether listed or not, ONZ has a value. It has investments and it has cash in the bank. Unless they are sold, we don't just lose said investments. All the time N4 are growing their business and increasing assets (patents etc) their value is rising... We also have stakes in other businesses (almost irrelevant compared to N4, but they're still there). In my opinion, the very worst case scenario is that we de-list, the board decide to wind the company up, all of the investments are sold (maybe not for market value), the money is pooled with the cash in the bank and it's divided up between the investors. In that case, then yes, we will more than likely not get our full investment back. But there are pretty much no circumstances where we just lose all of our money, unless it's simply stolen from the company. In which case I'll be one of the first joining with many others here on the doorsteps of all involved. Anyway, keeping pres
By open market, I mean N4 is not trading on the stock exchange.
Hi cash2. I don't have direct experience with mergers/acquisitions. But ONZ doesn't just lose it's stake in N4, regardless of listed or not. They can, however, sell it if we de-list and distribute proceeds from all investments to shareholders accordingly. But there should then be some due diligence as to fair value of N4 as it can't be sold on an open market.
Yeah, looks like the TU didn't give everyone what they wanted. But for LTH it's a positive sign things are moving in the right direction... They're doing their very best to turn things around and it'll be nice to see the next TU in profit :o)
I think i mis-worded my message. I meant up from the PREVIOUS trading update in November... it's showing recovery!
I agree. Sales increased, customers increased, like for like figures increased, changes to board to make company more efficient... it's adapting and recovering... what's not to like?
Crawshaw Group Plc ("Crawshaw" or the "Group"), the fresh meat and food-to-go retailer, provides the following update on Christmas trading for the 5 week period since our last update on 29 November 2016 to the 1 January 2017. We have continued to build on the progress noted in our last update with the improvements in sales and customer numbers being maintained through December as planned. Group sales were up 13% in the 5 week period versus the prior year, with total customer numbers also up 13% for the same period. Like-for-like sales were -3.8% for the 5 weeks ended 1 January 2017 having improved from -8.1% for the 4 weeks ended 27 November 2016. Like-for-like customer numbers were -4.2% having improved from -9.7% for the same periods. As previously communicated, this improvement in both sales and customer number momentum has required a moderate level of margin investment, with gross margins in the like-for-like stores at 43.6% H2 2017 to date (versus 44.9% H2 2016 to date). With the improvement in performance continuing through the festive trading period, the Board remain confident in achieving full year market expectations. Noel Collett, CEO comments; "We continue to be encouraged by the customer response to the recent changes we've made which have translated into further progress over the festive trading period. Our new hamper range was particularly well received with almost 3,000 hampers sold in the Christmas week. Our focus will continue to be centred on anchoring our value credentials and we will step up our marketing activity to maintain our current momentum in building customer frequency and loyalty" Board Change The Board of Crawshaw today announces that Mr Kevin Patrick Boyd will leave the business by mutual consent with immediate effect. All meat trading and buying responsibility has been transferred to Mick Charles, who has been promoted to the position of Head of Buying and Supply Chain. Mick joined the Crawshaws Senior Team in November 2014, bringing 35 years of meat industry experience and expertise. Richard Rose, Chairman, comments; "On behalf of the Board, I would like to thank Kevin for his loyalty and commitment in his 25 years of service and wish him well for the future. We would also like to congratulate Mick on his promotion, his wealth of meat buying experience has already played a significant role in the recent improvements in sales performance"