Member Info for dyl79

Apologies for the typos - I’m typing off my phone!!!

I still cannot understand why they didn’r RNS the OF calling in thr loan?

Yes, the sp would have tanked - but it was at 16p anyways

It would have at leadt given the shareholders the opportunity to decide what to do - rather than now it is completely out of our hands

It probably would have required a 100% or 150% dilution, and more tellingly a change in the BoD’s - which probably Duncan and Co didn’t want.

This has put me off investing in AIM as in theory the BoD can seemingly do as they please!

imo opinion the administrators are only there to make money for themselves - more than £500k to date and £650/hr is ridiculous!

Duncan and the BoD must never hold such positions ever again.

Just been reading the Administration proposals - quite surprised that of the 7no listed directors, 4 of them held no shares in the company. Only 2 of them had a ‘significant’ number of shares.

Administration costs are already at £580k, charging £662/hr.

Maybe a bit of realisation that baring some kind of sale - and having spent possibly over £100 million of shareholders money - Duncan and Co may have lost us the lot!

I agree, not just DP though - what was the chief financial officer doing?!!

There is definate a case of witholding information from shareholders when OF called in their loan. Probably much more as well if you did deeper.

I’m interested to see if there is any value to the company after they have gone through over £100m.

I wasn’t heavily invested here but £10k is £10k.

Let’s see if we can get anything back but investing in early stages pharmas, with the ever possibility of dilution and risk of product failiure, is in hindsight not a good way to invest long term. Lesson learned!

So 19th of August then.

It will be pretty amazing how much shareholders money 4d will have spent if their products work out worthless, or nearly worthless!

A couple more weeks wait then.

I presume the staff are still employed by 4d? What about the trials?

Seems to have gone a bit quiet in the last week.

The only way it comes back to AIM is that the Admin / BoD finds money from somewhere. Not only the debt but funding for the coming 12 months? - so quite a few millions me thinks. Maybe they can sell one or two of their IP’s - but its anyones guess what value these are worth.

The other option is a big pharma buys the company, and after paying creditors there is something left to pay us shareholders. I think we’ll need more than one bidder, otherwise the selling price may well be low, but putting a spin on it that they will save the company, keep staff employed etc, but shafting the shareholders who have pumped hundreds of millions into the company.

I hope you’r right tiler.

My fear is that someone comes in, offers £15m for the company AND takes on the staff to continue the research. The administrators could see something like this as a good deal, OF would be paid off, the company continues with its work, the staff keep their jobs and the shareholders get shafted for hundreds of millions that has been invested over the years.

I sincerely hope I am wrong though - the best scenario I can think of is that a few different companies would want 4d - or some of the IP’s - and some sort of a bidding war.

I’m unsure they can restructure the loan, or raise further monies considering the current market and share price - unless they sell something…

Robins - that is also my concern. Something similar to Flybe, where the shareholders were totally shafted.

God knows what the CFO was doing.

I think they ended up between a rock and a hardplace - should have raised at the end of May on the 0518 news when the sp spiked to 70p.

Maybe if the would have RNS’d the default, the sp would have fallen further making a raise even more difficult.

It is just very poor forward planning by the company.

But you’d expect people to be touchy if they are sitting on quite large losses.

Duncan and the board don’t look good in this at all. Unless they manage some miracle turn around with the administrators, their reputations as BoD level management is, I’m afraid over as I can’t see anyone trusting them with their investments in the future.

I KNOW THAT Duncan is getting it a lot on here, but there are other senior management officials that also come out of this looking underwhelming as well.

We as shareholders can only go on what we are being informed of - defaulting the OF deal came out of nowhere.

Come on KD - why do you seem to revel in others losses.

I’m down around £10k - but I was treating this a bit like a roulette wheel - could go either way.

I’m going to wait and see what happens;

a) the company can be saved somehow and the shares relisted

b) the assets are sold to someone and we may get something back that way. I’ll be keeping an eye on who the assets are being sold to - and for how much! Considering the amount of money that has already been pumped into the company to develop various IP’s - hundreds of millions - and considering the results that have been RND’d - I am hoping for some return.

I agree with that fairdealer.

Also I cannot see the conpany progressing with so many interests on the go - IF it does come out of administration, it will have to be streamlined - as well as some changes to the BOD’s.

I’d like to see them sell at least 1 asset/IP - what and how much is anyone’s guess.

Use this to pay off the loan and fund us into the future for a while possibly?

If they were to refinance the loan, I’m unsure if they would raise anything by dilution - who would invest? Unless big changes were made to the company’s interests.

Clutching at straws slightly.

Are you invested in 4d Dave?

Yes surely OF would have notified sooner than what we are led to believe; only thing with RNS ing that is that the shares would have fallen sooner.

The AIM pharma sector in general has fallen a lot lately though, shares like Reneuron which I used to hold but sold out last year…. but not to the extent of 4d. Certainly raises questions why the share was shorted so much, and whether they had any inside information?

Yes some really strange things have been done.

Also what was the chief financial officer of 4d doing? Sleeping? Doesn’t look good for him neither.

Will shareholders receive any updates now? What is the maximum length it can stay in administration?