The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The Subscription Agreement also provides that:
· Pinnacle would be entitled whilst it has an interest of: (i) no less than 50 per cent. of the Fully Diluted Share Capital to appoint 60 per cent. of the board of directors (the "Board") of the Company; and (ii) between 25 per cent and 50 per cent of the Fully Diluted Share Capital to appoint 40 per cent. of the Board, in each case alongside two executive directors and two non-executive directors independent of Pinnacle and its associates; ... sounds to me like they want rid of this BOD?
I agree Joe, after watching the BOD of HE1 nothing will surprise me!
The extension here gave me a lot of encouragement that a deal is under way and a second extension will give more weight to this theory but if for some reason the BOD are just going for full Admin, the cost of FRP is irrelevant. Are FRP trying to save the business and the local workforce but the BOD are just not listening, from what I've read it wouldn't be out of character. Hoping for news this week, another extension will do fine.
No I agree but I would totally believe how useless the BOD are to have brought AMTE to this point, it seems all options to save shareholders will necessitate big Board changes, strange that ....
Post on Telegram, "3 offers on table but management prefer full administration option", total rubbish or are the BOD that useless?
yes joe i do agree and hope something definitive is revealed tomorrow.
it's the pinnacle attitude to refuse the release of funds when needed in dec that makes me thing they'll drag it out as long as the court allows.
would much prefer that a new buyer steps in and they regret ******* about, who knows.
DD extended to 12th but don't think we'll hear tomorrow, might take a while longer yet, legal boys will take it to end of Court extension I'd imagine.
Hope to be wrong ...
Old news
10 day extension seems feasible, how many in the corporate legal world would have been cracking on over the holidays?
"The accelerated sales process to seek potential buyers of the business and assets of the Company is ongoing"
14:06:57 1.55 1,150,000 17.83k
Big buy?
16:12:25 5.54 1,363,646 75.55k O
16:12:02 5.64 27,961 1,577 O
16:11:37 5.54 845,100 46.82k O
16:09:27 5.60 2,208,745 123.69k O
16:09:27 5.60 -2,000,000 -112.00k O
16:10:43 5.600 89,181 4,994 O
16:09:27 5.60 2,000,000 112.00k O
Is this why the SP is down, mate's rates, shorts closing?