Member Info for Bigears1170

It would be quite something to have spent the last decade dry b*mming pi’s only to stroll off in to the sunset with the first meaningful 🫰contract that comes along !

“The general rule under the Takeover Code is that a shareholder who acquires 30% or more of the voting rights in a quoted company must make an offer to purchase all of the shares in that company.

However, if that shareholder holds over 50% of the voting rights already, then he can increase his stake without restriction.

A shareholder could own over 50% of the voting rights of a company because he owned that stake when it came to market.

With a 75% vote being required to delist a company from AIM, it is possible for a company to delist and leave its minorities high and dry on the vote of just one major shareholder.

Following such a delisting, shareholders may find themselves with no market for their shares, other than the possibility of a matched bargain service.”

Exactly what I thought !

There you go …..tucked away in the AIM admission documents;-

Following Admission Peter Fowler will continue to own and control a substantial amount of the Ordinary Shares.

Following Admission, 49.97 per cent. of the Enlarged Share Capital will be owned by Peter Fowler, his wife and his son Stuart Fowler. The ownership of a substantial percentage of the Ordinary Shares by such holders will enable them to exercise significant control over matters requiring shareholder approval and may have the effect of delaying, deferring or preventing a change in control of the Group, may discourage bids for Ordinary Shares or may adversely affect the market price of the Ordinary Shares. However, Peter Fowler has entered into a Relationship Agreement with the Company and JM Finn which regulates the manner in which control can be exercised. A summary of the key terms of the Relationship Agreement is set out at paragraph 12.5 of Part 4.

Part 4 - 12.5

A Relationship Agreement dated 15 June 2007 between the Company, Peter Fowler and JM Finn pursuant to which, conditional on Admission, Peter Fowler has agreed with the Company and JM Finn that whilst he, any related party (being “an associate” as defined in paragraph (c) of the definition of “related party” in the AIM Rules) and/or his son Stuart Fowler (being together the “Related Parties”) controls the right to exercise more than 45 per cent. of the rights to vote at general meetings of the Company, he and any of his Related Parties will vote, inter alia, so as to ensure that the Group can carry on its business and conduct its affairs independelty of him and/or his Related Parties.

FWIW that statement tucked away in the “strategy” section didn’t appear in the previous two finals.

I couldn’t be ar$ed to look back any further.

I find it astonishing that on the back of Fowlers inability to play with a straight bat that LTH’s wont see that statement for what it is.

Morning Misty

Not one JOT ! As Yrabs points out its the Fowler family and their stewardship of the business which has created the problem with liquidity.

Folk have been saying for years this is a family business. IMO that paragraph you posted this morning confirms they will delist the business ( if it is in the Fowler family interests ) .

It would be some achievement to rinse the market for the guts of £50 million in fund raises , never make a penny profit and then delist !

Whatever route Fowler chooses to pursue you can guarantee that he and his family are front and centre of his priorities- he couldn’t give two hoots for private investors, and anyone who thinks otherwise Is completely deluded .

Its quite remarkable that they have managed to get away with the same project having two CAPEX funding rounds without ever commencing the contract 🤥and or being paid a bean ;

June 2021 - £2.5M

July 2024 - £1.5M

had its contract signed 🤥twice ,despite never telling the market the first contract had been cancelled, ( that’s if it had even been signed ) hence no Capex required;

June 2021 🤥

“The contract was officially signed in Kinshasa by board representatives of Westminster and the airport authority, La Regie Des Voies Aeriennes (RVA) and witnessed by the British Ambassador, Ms Emily Maltman. “

April 2024 🤥

A key development and expansion of our aviation security business is the ratification of the long-awaited contract for the Democratic Republic of Congo ("DRC") airports which was signed at a formal ceremony in Kinshasa, DRC on 11 April 2024 during the UK - DRC Trade and Investment Mission, by board representatives of both Westminster and the airport authority, La Regie Des Voies Aeriennes ('RVA'), in the presence of various government officials and dignitaries including Lord Popat, the UK Prime Minister's Trade Envoy; John Humphrey,

been subject to the 🤥dreaded “ internal ratification / internal process delays twice.

And now run over its 90 day transition period by 110 days and counting ………….. 🫣

What baffles me is how he gets so much fiction past the nomad

£500k give or take

I’m stating a fact - there is ground breaking once in a life time tech at play here yet the management/ PR team can’t sell the story !

Zero incentive for the early stage Biotech PI when you see the lack of SP management from the BOD/ PR team

Mr Market will no doubt continue to suck his / her thumb - what matters is that BP understands 👊

“ we are now seeing a 75-fold increase in therapeutic index with our recently announced exatecan program, AVA6103 in preclinical models, suggesting that AVA6103 could have an unprecedented safety profile in the clinic.“

AZM it’s a secret 🤫

What on earth must the scoring criteria have been for the Fowler to have picked a pot up , and who or what was the competition 🤣

Agreed Bella

Point 1 being my bugbear for many moons , however as was noted on twatter this afternoon , this RNS and incoming news flow is being digested by the people that matter in the board rooms of BP .

The re rate is incoming and will be huge .

Might be an idea to drag a random stranger in off the street to make any announcements , that way we might see the SP move north instead of its usual cratering on the utterings of our CEO

If we look at the comments of the last 18 Months or so I believe we are approaching a significant inflection point.

At the 23 AGM AS & EF were both quite open in their opinion in respect of the SP being ahead of itself against its peers at circa £1.10, ( I thought they were bonkers ) and that it would need to be at the right price for the large Biotech investors to have an interest .

EF followed this up by saying that the data would be at a stage in 12-18 months that would be inviting said Biotech investors , i.e. now !

The CLN has IMO very “conveniently”, along with guarded RNS news flow, suppressed the SP to a level at which those Biotech investors will be comfortable coming onboard.

The pipeline reveal is coinciding nicely with confirmed offers being tabled for DX.

I believe the imminent chronology of events will be large Biotech Investors onboarding - DX Disposal - CLN paid off – NASDAQ ….significant re-rate - AIMHO

100% agree Ice- AS also talked the SP down at his last AGM as did EF with his "were not boosters " statement .