The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Lol. Not if several parties are building a share holding under 3%…
Cobra, I was looking over recent events and came to the same conclusion. It's like the good news is purposely being held back.
Atb.
Green box idiot still around. Bf.
Had a. Ten Million share buy after hours yesterday.
Just saying :-)
Leer75 , I have also green boxed bf. The only one I ever have.
See green box is back, lol.
Take a look at rre, it's controlled by auto trades. I feel it just makes it very volatile.
Filtered you know who !
BLISS.
Succinct, and to the point. Recommended.
PrivateRyan, posted.
No hasty decisions Adam I held till the death but that lack of sale of iclaprim was the death knell The company is worthless and rampers are sucking in poor investors to pretend it is all good news. Not a sad story by the way as I can afford a six figure loss. Pass the parcel time now. An inexorable slide down lwards. I am off to exciting pastures new ...
Bitter and twisted. Lol.
Exciting news, ducks lining up.
You always mention the 4th May and never the 5th May.
Funny that.
Classic deramper :-)
For reference,
<< Back
May 5, 2020 at 2:00 AM EDT
MOTIF BIO PLACING TO RAISE £650,000
PDF Version
Motif Bio plc
("Motif Bio" or the "Company")
Placing to raise £650,000
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, announces that it has raised a total of £650,000 (before expenses) by means of a Placing (the "Placing") via the issue of 162,500,000 ordinary shares of 0.01pence (the "Ordinary Shares") in the capital of the Company with an institutional investor (the "Placing Shares") at a price of 0.4 pence (the “Placing Price”) per Placing Share.
The Placing, which uses the Company’s existing share authorities, was undertaken by the Company's broker SP Angel Corporate Finance LLP, details of which are set out below.
Background to the Placing
Motif Bio is undertaking the Placing at this time in response to investor demand. In addition, the Placing will strengthen Motif Bio’s balance sheet as the Company's Directors continue to focus on sourcing an appropriate reverse takeover candidate for Motif Bio. The Company’s Directors are currently in discussions with several companies in the healthcare sector that have expressed an interest in proceeding with a reverse takeover, although at this stage no assurances can be provided that the effort will be successful to source and/or complete a reverse takeover transaction.
Following its reclassification as an AIM Rule 15 cash shell in January 2020, the Company is required to make an acquisition which constitutes a reverse takeover under the AIM Rules by 28 July 2020, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40. The Company's admission to trading on AIM would then be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
Use of Proceeds
The net proceeds of the Placing will be used as follows:
To strengthen the Company’s balance sheet as the Company’s Directors continue the search for an appropriate reverse takeover candidate; and
To provide the Company with additional working capital.
Following the Placing, Motif Bio will have cash of approximately £815,000 which will provide the Company with sufficient working capital until February 2021. The Directors will continue to impose disciplined cost controls.
Details of the Placing
The Company has conditionally raised £650,000 (before expenses), by way of a Placing to an institutional investor of 162,500,000 Placing Shares at the Placing Price.
Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and admission is currently expected to occur at 8.00a.m. on or around 11 May 2020.
Assuming the issue of all of the Placing Shares, the Placing Shares will represent approximately 33.5 per cent. of the existing Ordinary Shares and will, when issued, represent approximately 25.1 per
Great first post, looks spot on to me :-)
Habisa is correct, this is part of the Placing shares.
Other (please specify)iii: Placing
x
're, short closing- no bonus for Bobby then,his paymasters not happy with him/her.
Could Bobby be an intelligent Roblot. :-)
Bobby, gave us lies and half truths, funny for us but damaging for newbies who are still learning.
Next leg coming