Member Info for BeardedDragon

Having written a snotty e-mail to the boss, here is her response...

Dear Leslie,

Thank you for taking the time to get in touch with me directly following yesterday’s announcement. I appreciate your thoughtful comments and am grateful for the support you’ve shown the business as one of our most engaged shareholders.

The board has not taken the decision to de-list lightly and, as we explained in yesterday’s RNS, it’s our view that de-listing is in the best interests of the company and its shareholders over the medium and longer term. We believe that OCT’s current market cap in no way reflects the prospective value of our current pipeline of our four drug development programmes, or the value of our proprietary library of almost 500 cannabinoid derivatives. Indeed, Edison Group has recently valued the company at over £27m based on OCT461201 alone. As we said yesterday, the UK capital markets are facing particularly challenging times and many biopharma businesses like ours are re-evaluating whether the London Stock Exchange is the right home for them. The current market conditions are compromising our ability to deliver on our core mission - bringing help to people living with debilitating conditions such as Trigeminal Neuralgia and Chemotherapy Induced Peripheral Neuropathy.

We believe that de-listing presents an exceptional opportunity for us to build a valuation that appropriately reflects and celebrates our track record and assets. This will allow us to progress our programmes in a more efficient and timely way, thereby opening the door to re-listing on a regulated exchange in due course. That may be here, in the UK, or on NASDAQ in North America, which has a deep pool of life science capital markets.

The last day of dealings will be on 5th June 2024, and we are aiming to put in place a matched bargain facility such as JP Jenkins or Asset Swap so that shareholders have a platform on which to trade their shares once the de-listing is complete.

I have recorded a video interview to further explain the rationale and set out the next steps for OCT – you can find that here.

I hope you will continue to support us as we transition to our new home as a de-listed company. If not, I remain grateful for the support you’ve shown us along the way.

Best wishes,

Clarissa

Clarissa Sowemimo-Coker

Chief Executive Officer

Odd that the target has been reduced to 400p by one broker and yet the next day Deutsche Bank initiated cover as a buy with a target of 660p. One of them must be right.

Following this debacle and others in recent weeks, I have gone through my portfolio with a fine tooth comb and sold every one of my AIM holdings, replacing them with FTSE 250 companies. A shame really but it is what it is.

They honestly think that Unilever, Standard Chartered & Prudential are take-over targets? I need to take whatever meds they are on.

Unable to view the entire article without subscribing. may I ask what other companies they suggest as possible bid targets.

Mark, please ask her what we should do if stock currently held in an ISA with Smart Investor and now almost worthless. Would she like to buy my shares?

It may come goof for the company directors but definitely not for mere shareholders like myself who has just had £1,000 wiped off my pension pot. How do the shares recover from this?

How do we trade shares on OTC once delisted from AIM if held in an ISA? Presumably the share value will still have fallen by the 70% experienced today, so what's the point? Going private seems to be a common course of action among AIM companies. It seems our best course of action is to sell all our AIM stocks sooner rather than later and stick to the FTSE companies, which is a shame.

Will probably fall to below 0.20p this morning. Not a good start to the day.

Discodog says "You won't see anything under 3p this week" and yet it falls another 20% to drop below 2p again. What a complete muppet.

Up over 25% today

It has taken a few days for the news to sink in, but finally our patience is being rewarded.

Why a strong sell if below 0.32p? What is your reasoning?

What big news are you referring to?

Except this important factor...I think pre trial is regarding DHSC £135M claim , which will be rejected. The court case will be Novacyt pursuit of £81.5 M + interest [£10M] and Novacyt will want every penny and that's why it will go to court

Am expecting this to reach 550p before the year end, almost reaching the brokers recently upgraded 580p target.

Please tell us all what's around the corner.

Yes, but the RNS also says that more funding will be required. Rough with the smooth.

Clearly the market is simply not interested in good news from small companies, only bad news causes a reaction.

This important discovery was even mentioned on Bloomberg this morning as a potential market price lifting event. Get in quick boys and girls.