The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Accordingly, the Sale Agreement is conditional upon the approval of the Company's Shareholders in a general meeting (the "General Meeting"). A circular (the "Circular") containing, amongst other things, further details of the Sale, the Independent Director's recommendation to vote in favour of the resolution approving the Sale for the purposes of Rule 15 of the AIM Rules and section 190 of the Act (the "Sale Resolution") and the notice convening the General Meeting will be published by the Company as soon as practicable. “The Sale Resolution will be proposed as an ordinary resolution of the Company.”
That’s exactly how I thought is was Nk2022, but somehow ITS seem to think they can get away with an ordinary resolution according to their rns, which states this.
Tbh I’d overlooked this in the rns previously, I’m interested to see the outcome on Friday to see if it was maybe an error on their part putting that wording in the rns or not
I’ll be honest, upon realising that they are proposing the sale as an ordinary resolution I bailed.
For one, I cannot understand if/how they can do this, as I thought any sale would be a special resolution requiring 75% vote in favour. But I was concerned that they seem to be getting away with whatever they want on this one, so will probably get away with an ordinary resolution requiring only 50% vote. So rather than ending up with nothing I’ve taken back what I can now before the vote.
Thankfully my losses are minimal thanks to only having bought in recent days, but I feel for those who will be nursing large losses thanks to the ****show Adam Frisby.
I’ll keep my hopes up for you guys holding on, hopefully it’ll be 75% they need for both resolutions, in that case I think you have a fair chance
There’s opposing views and then there’s stirring the pot for persons own agains.
And since you Erebus55 bring up ITS, I had a small punt on in recent days which I’ve now exited at minimal loss, I’d hardly call that my beloved. Hope you don’t stand to lose too much on ITS when Adam gets his way.
Can you please post a link to the source which indicates the FCA are investigating Revb? As this is news to me.
If not, then Revb will be released from suspension on day accounts released. Very simple
Haha erebus55 is clearly a clown here with an agenda. Hmm what might that be I wonder?
Funny how they only appear on the Revb bb when it looks possible it might be trading again within the next 7 trading days.
Ok Erebus55 you’ve said your piece, let’s see who is correct once accounts released
Erebus55 what a load of rubbish.
Suspension will be lifted once accounts filed. Check out other shares that have had similar occurrences
Just seen on telegram group that the sale has been proposed as an “ordinary resolution” rather than a special. Meaning they only need 50% of all votes cast to succeed!!
Yes the delisting still required 75% but my worry here is that Adam and his cronies are fairly confident that they’ve got their 50% in the bag, meaning the sale happens regardless. Then we’re left with a cash shell which might see us not even getting the £500k back as they’ll use the excuse that the cash needed to maintain Adams salary/usual expenses to keep a plc alive.
Any thoughts?
But I’m not giving that much thought, I’m hopeful on us being successful with a no vote this Friday
After all associated costs there’ll be around £500k to distribute to shareholders, equivalent to around 0.95p per share
Hopefully Afzal Valli still has their 1,350,000 shares and voting no also
Bearhunter - 100,000
Gordonbennett1 - 450,000
Tuan6 - 769,876
Watty19 - 1,200,000
MickR - 200,000
Sonic80 - 1,500,000
Phippso - 140,000
Keenon - 1,000,000
Newbourne - 361,000
Mobily - 50,000
Magicali - 358,740
Poorinvestor - 1,400,000
Casper786 - 400,000
Wheels69 - 29,700
Wul_1976 - 500,000
Tom2468 - 450,000
Notlucky - 80,000
Nk2022 - 1,400,000
Reardon95 ????
Rdeacs ????
Shaun170284 ????
Apologies if I've missed anyone, please feel free to copy/paste and amend
But looking good so far, over 10 mil No votes if the above figures are correct
100k shares here, voted NO on both counts
Gla
I was thinking it might be a good idea to create a new thread cop today for those that are willing to share their holding and which way they voted.
Be good to gauge the likelihood hood of us being successful in screwing Adams plans.
Remember it’s 75% of all votes cast that Adam needs for this to go his way, so for instance say if only Adam voted “yes” to this, with his 12 million shares holding, and holders with around 17 million shares voted in total with 5 million of those being “no” votes, we’d be successful.
All depends on how many investors have voted by cop today
Reardon95 try not to take much notice of the sp now, it’s what mm’s do. We’ve made our decisions, best to stick with them now and just see how it plays out. If it’s a yes vote we’ll probably get similar to the current sp back once company sold, if it’s a no vote, well that’s where it all gets a bit exciting imo.
That is correct. They need 75% or more of the votes cast to be “yes” to pass
Still some nice sized buys coming in… Roll on Friday!
That’s my votes in now, 100k “No” votes
GLA
Here’s hoping!
Tbh I’d be gobsmacked if Adam managed to pull his stunt off, he’s got some real nerve that’s for sure
Has Afzal posted anything recently re ITS? Been searching twatter and can’t find anything recent
The more I think about it the more confident I feel that there’s little chance of them getting over 75% of the vote, so long as us pi’s stand our ground