The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
In today’s RNS the caption
‘In addition a key consultant to the Company, has been granted 1,000,000 options on the same terms.’
Who is this key advisor, why are they key and why haven’t the company named who it is? Very interesting and think we could find out fairly soon.
Have added further at .55 and under, and now time to sit back and let it play out - if it goes the way I think, genuine 10 bag opportunity from the placing price given time from such a low MC starting point. Angus confident to take a big wedge at .6p average
Having bought on market straight after the recent change in strategy and placing RNS, I’m really excited for this one.
It’s plays like this that I love, very thinly traded, tiny Market cap, all time lows, roughly 50% of shares held by current directors that are supportive of the changes, incoming CEO Angus Forrest has a decent history, and is confident to take 10%+ of the enlarged shares after GM with 25m £150k worth, some at placing price and some at 1p.
I remember one of he’s last companies IMTK doing me almost 200% when it went from 4p to 12p or so, and this in my opinion will do the same whether it’s before or after the GM.
I’ve took an initial position but will happily add further if it dips back far enough as I think we could see a very decent move coming here
I have been taking a look at the share capital and what price previous raises etc have been carried out at.
Total of 247m shares in issue when Finnaust RTO’d in 2013 with placing at 5p
49m shares was placed at 2.25p in October 2014
175m shares placed in December 2015 (165m issued to western areas ltd as part of an acquisition of 60% of their interest in Greenland licences with option to purchase the remaining 40%) and 10m placing at 2p
March 2016 placing 50m at 2p (£1m)
76m shares placed at 7p December 2016 (£5m) including 45m of western areas ltd shares placed to new Insti investors also at 7p
£3.5m 29m placed at 12p - June 2017
along with 138m shares again from western areas ltd holding placed with insti’s at 12p
So basically all shares received by western areas ltd at 2p level with regard to the acquisition are in new hands from 7p and majority at 12p
Feb 2018 raised £17m at 22p - 77m shares
November 2019 - raises 115m shares £11.5m at 10p
So to summarise
•Roughly 25% of shares in at 5p from IPO in 2013
•Roughly 10% of shares in at 2-2.25p 2014-2016
•Roughly 15% of shares in at 7p Dec 2016
•Roughly 20% of shares in at 12p June 2017
•Roughly 10% of shares in at 22p Feb 2018
Roughly 15% of shares in at 10p Nov 2019
90% plus of the equity is in at 5p+ with 45% or so in at 10p+
Outstanding amounts are from warrant and option exercises at various prices.
Directors have decent amounts of options starting from 10p all the way up to 30p - pretty much all legacy warrants and options have expired baring a small few at 7p
For me this is a bargain at current prices, We’ve had the delay RNS of the Rio smeltering test and also Disko work being postponed all due to Covid19 which has suppressed the price, bad news now out the way and priced in, throw in a bit of good news and it’ll soon be heading back to the last placing price of 10p and beyond imo!
I reckon they’ll try and drop it first thing to maybe 16p area (which was previous resistance until we broke out of that today) and then it’ll bounce from there. If you were keeping an eye on trades today MM’s went defensive late on, i.e. they opened the spread up letting people sell mid 16’s but wouldn’t allow buying anywhere near that price, was 17.6p to buy into close. That suggests they are trying to pick up cheapies but don’t want to sell them back anywhere near that area, usually suggests a bottom is close!
Overall a good day on a bad market day in general, I still believe if this news was released last week we would have been testing 30p intraday rather than 20p.
Anyway onwards and upwards, 20p level is now the biggie to break, if that goes it opens up a very decent move imo, further news due on a number of fronts now not only COVID news, so can only see it gaining momentum from here.
https://translate.google.com/translate?hl=en&sl=fr&u=https://icfrc.fr/covid-19-un-nouveau-comite-de-scientifiques-pour-conseiller-le-gouvernement-sur-les-traitements-et-les-tests-contre-le-coronavirus/&prev=search
So IMM scientific member Prof Muller one of 12 appointed to the French Research and expert analysis committee by president Macron for COVID-19, and also Imm subsidiary Ureka Pharma entered a consortium funded by the French state for C19 also.
I like this bit
‘ She will be accompanied in particular by Sylviane Muller, researcher in immunology and therapeutic chemistry on the Strasbourg university campus. Specialist in autoimmune diseases, she is known to be at the origin of a promising treatment currently in clinical study against lupus. The possibility of treating Covid-19 based on chloroquine or one of its derivatives is mentioned and is being analyzed, these compounds being already used for the treatment of several auto-immune diseases of the lupus type.’
When Avion deal was announced it went 7p to 30p 300%+ we know they’ve been in discussions with other potential partners, and in my opinion, now they’ve secured one major partner in Avion, it should be much easier for them to secure others.
I know I would rather be in than out waiting for another similar announcement, if that sort of thing lands at 7am, we know IMM is prone to big spikes I see a minimum of 50%+ mark up on open.
Secondly in the placing RNS hidden away was an extract as to how IMM’s subsidiary could be helping C19 - if any such announcement again expect a big mark up on open.
For me the downside is 10-11p placing price, considering major holder and director took £200k at that level, But the upside is multibags, I’ll continue to add a few here and there as when I get the chance
Ask yourself who bought £42k - that’s actually a sell, along with the £18k, check the time and date of the trades and you’ll see they are both sells, probably Shumba, and if so that means they probably have around 10m or so left to go and that’s the end of the overhang which has been weigh KIBO down for some time, I’ve been buying a few over the last week or so
Some people really don’t have a clue. WA are fully out, a trade popped up on 22nd April that matched their holding after a few other lumpy sells, that’s WA fully out - see trade 637,411 sold at 12:47pm on 22nd April - WA holding prior to this was 2,841,411, we won’t get any further RNS to state they are out as they previously went below the 3% reporting threshold.
Secondly another poster stating about debt, THERE IS NO DEBT!!! See recent Results RNS, I’ll even post the paragraph to make it easy
The Group balance sheet at 31 January 2020 remains strong with net assets of £29.1m (2019: £46.2m) including closing cash of £8.1m (2019: £16.2m) and no bank borrowings.
NO BANK BORROWINGS!!
10p+ coming possibly tomorrow and any takeover bid will see 15-20p possibly higher.
I honestly believe we are seeing mark wet purchases and potentially from sports direct who already hold 27%, hostile takeover bid very possible IMO - see trade on 23rd April £50k buy are 9p, that isn’t punt money, that is accumulation, time will tell
Going to be a big week here, share price broke 4 year resistance level at roughly 20p, also was the highest daily and weekly closing price since 2011, so much going on I find it hard how it doesn’t go on a very big run now...
Just need to exercise patience, Cathal has done everything he said he would and I’m expecting more contracts to swiftly follow.
The share price is frustrating but they’ve just raised £5m and done an al equity swap with hVIVO holders, that’s a big chunk to clear. One day it’ll pop 6p and won’t be coming back, especially if Cathal keeps landing these contracts. Confidence should now be back as some were getting jittery that he hadn’t produced the goods already but now it’s there for all to see.
This is not a share where you are going to get a 50-100% rise in minutes, so patience required, it’ll be a gradual builder over the course of the next few months.
Chill, they’ve just raised £5m and done an all share swap with hVIVO holders for Open Orphan shares, there’s bound to be a few stale bulls that want out.
For me, I think this represents an excellent opportunity and fully expect to see regular contract news over the next few months. There’s no way Cathal would be in to the time of 50% of his entire net worth if he thought he would fail.
Just need some patience for now until some significant news starts to land
?OPEN ORPHAN #ORPH ?£30m MC
* ?Providing services to orphan drug companies, the fastest growing pharmaceutical sector and the most profitable
* Have the only 24 bed quarantine facility in Europe with on-sight virology laboratory & the worlds largest bank of challenge viral study models, they have 8, nearest competitor has 1? (asset value roughly £50-60m)
* Chairman Cathal Friel has 50% of his entire net worth invested? £2m+
* Timing couldn’t be better with the current Coronavirus outbreak, HVIVO 24 bed quarantine facility used to run at 35% occupancy, they believe in the next 2-3 months that’ll be upto 75% occupancy at which time it’ll be making substantial cash
* ORPH will be profitable within 2-3 months at which time it’ll be RNS’d to the market
* Cathal has made it totally clear that ORPH is a services company and no longer a discovery company, but they do have a 49% stake in a potential flu vaccine they have inherited with hVIVO, if they pull of a deal for this it could do more than a few bags, but that’s a ‘lottery ticket’ as he states, the business itself without that ‘lottery ticket’ within a year should be 100-200% higher
Yea and the price has continued to drop over those 12 months to now a £600k MC - I’m not seeing this as an investment, but a potential trade that will spike on any news involving large clients as was mentioned in the half yearly.
Let’s see
In the half year report they stated
In addition, the Group has recently won a high-profile project with a global luxury automotive brand, which is also a new client, and expects to announce further details regarding this project during 2020
All they ever RNS is Results and trading statements, if they RNS a new contract win, which I believe the above is significant for them to mention it separately in the half yearly report, it will do a big move from £600k MC
Also Oilmanmike suggests why no RNS explaining the rise. The silence from them in itself could be a big clue as if there was no substance to the rumour, considering the company has been contacted and asked directly about the on going work, and still no comment, they would have had to squash the rumours straight away, the fact that they haven’t is a big clue IMO
Morning Jim
Yes sitting waiting for the quarterlies as you say there has to be reference now after recent speculation, emails to company and share price movement, decent breakout last couple days, just consolidating that move at present, even on this drop there isn’t much offered but can sell plenty, it’s like the MM’s know it’s going to go higher again soon.