James Normand steps down today as Chairman of Global Resources Investment Trust PLC (currently under a CVA) & Companies House reports that his appointment as secretary was Terminated on 1 September 2021. SP reacts positively to new look Board and future strategy.
Actually it is the 23rd i.e. tomorrow but for all intents and purposes, today it is. After the Weshop news yesterday, don't really need the extra warrant funds (£1.4m with a 6% dilution - 961k shares), Vela are reluctant to deploy capital as it is anyway. That will leave the 0.125p warrants remaining (£1m) valid til next Aug. Maybe a cunning plan by JN to let these slip with blockbuster RNS on Monday to create more value for SHs!
A quick scan of the most recent Weshop accounts shows a number of warrants and options outstanding, plus there is a large convertible loan note that may convert on IPO. Looks like the Vela % may be diluted on final washout but at least a fair market value will finally be attribute to this investment with potential to cash out.
Huge potential, re-skilling, leveling up agenda and so on, if Vela ever makes me a few quid, I am tempted to have a small flutter directly. Just look at the sort of valuation attributed to Multiverse recently.
From BBC The UK government has announced deals for Covid-19 antivirals which it says could be groundbreaking this winter. Antivirals are treatments used to either treat those who are infected with a virus or protect high-risk people who may have been exposed to the virus. The two new treatments are molnupiravir from Merck (MSD) and ritonavir from Pfizer. The two new antivirals are expected to be given to those most at risk from the virus, helping reduce the severity of symptoms and ease pressure on the NHS over winter, the government says. Both first need to be evaluated by the Medicines and Healthcare products Regulatory Agency (MHRA). A recent interim clinical trial results suggested that molnupiravir cuts the risk of hospitalisation or death by about half. Chair of the Antivirals Taskforce Eddie Gray said: "This is a very important development in our mission to find antivirals for those exposed to Covid-19, supporting the renowned vaccination programme and the NHS over the coming months."
I guess doing well is a relative term! Invested in Nortcoders (CODE) at 180p, now 185p/190p. Pre ipo investment in Cornerstone (CSFS) at 50p followed by a further investment on listing & 61p, now 26p/30p.
What bonkers SP action today. It all seemed to kick off after the @cruickie1 Rocket Ship earlier this afternoon. Next take off when buys hit 0.07 later today please. Surely we can't pump to warrants price by Friday can we? And if it does, there is going to be one hell of a rush for the exit :-)
Cizzle Biotechnology signed a Memorandum of Understanding ("MoU") with SGSC to grant Cizzle Biotechnology potential future royalty payments from the commercialisation of St George Street's therapeutic asset AZD1656 of up to £5 million.
Worth noting that Igraine shares remain suspended whilst finalising Audited Results for 31.12.2020. Overdue and revised date of end of Sept has slipped as well. Don't think this would impact progress of AZD1656 but you never know since Igraine have acquired 2% of EML and the Board cross over as you state.
Agree that an update is needed to bring some life back into the SP. It will need to be 'the deal' with actual numbers, anything less may turn out to be just a damp squid. Even a great peer review with no deal may not be sufficient. A new investment or 2 won't move this SP in the short term.