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"Note - "... we will engage expertise in business development..."

So what is your interpretation then Soup? Do you think the key players are aware and ready for engagement or do you think the BD expertise will be first contact?

"Would also explain why they can wait 6 months"

I dont think it's unusual for most senior managers/directors to have a clause in their contract for that kind of term. I was surprised that DG/CB/JH etc were allowed to disappear so quickly.

It looks like the post-apocalypse contracts for the new board now include more sensible terms.

"To go a step further it may be why one of the parties need her to run a new fibrosis project".

How do you know it's a fibrosis project? I'm very doubtful of that. The letter said it was Anne's decision and that the rest of the board were as "confused and frustrated" as the shareholders. That suggests that Anne made this decision without consulting any of her colleagues and possibly without any real regard for the impact.

Yes, they might have even had permission to let it slip, as a kind damage limitation, if that is what it truly means.

I think Alastair needs to find a suitable replacement as soon as possible. I'm sure Anne will be professional enough to see out the obligations required of her while she works her notice but I'd much rather have someone there who has their heart in it.

Hope so but like I said, before I read it I had assumed Nuformix were not approaching anyone until they had the data, so it surprised me.

If it does mean partners are waiting knowingly in the side-lines and the market starts to wake up to that then we could see things start to move north again (provided no-one presses any more detonators!)

I did wonder if Alastair's letter was actually aimed more at prospective partners than shareholders to allay any jitters that yesterday's car crash might have caused.

Yes. I tried to highlight that in my first post today. I thought it read that way too but can't be 100% sure that it doesn't just mean it will trigger an approach by us.

If there is a bilateral arrangement in place where key players are waiting for that data then it's a pity it's not clear as I'm sure we'd be nearer the top end of Allenby's current valuation range

Quite funny for you that, Whimax :0)

I suspect the truth is that she's probably been whisked off into protective custody at one of Whimax's safe houses to avoid further awkward questions.

LoL. Apparently NOT :0)

Read the letter Whimax before you hop on your soap box.

The board were unaware of Anne's intentions to resign so we didn't know 'ALL' as you spout. This will have understandably had an impact on everyone at Nuformix. I think it's clear from the letter that the board "share" the confusion and frustration of most shareholders (not you though because you already know everything). You also have to consider that, if the board did not know about the resignation then Oxilio won't have known either. It could have had an adverse effect but hopefully they will have been reassured yesterday. I suppose you knew that too though.

Alastair's letter is a positive and welcome step.

You seem to get very defensive about board members who undertake actions which cause shockwaves that most of us don't really appreciate I sometimes wonder if you do actually hold any shares at all.

Yes it is. I just hope it doesn't destabilise things further with remaining members.

It sounds very much like they had everything to play for.

I wonder why they didn't mention before that key players are waiting to talk? Perhaps they gave permission to disclose a bit more in response to the resignation.

It's available at https://nuformix.com/document-center/

Sounds like the rest of the board had no warning either.

The letter offers reassurance that things are still on track despite this. It also states that we are fully funded for the collection of all package data for both NXP002 & NXP004 plus money to support licensing negotiations if the data is good.

The most significant point to me was the statement that if the data is good then licensing talks WILL commence. Unless I misinterpreted, it sounded very much like there is someone waiting in the wings for this data and they are ready once it does.

Thanks for the support Thompi but it's really no skin off my nose. I've mentioned the filter option a few times but it seems to fall on deaf ears, perhaps because it doesn't stop everyone from hearing the viewpoints they don't agree with.

However, if Whimax feels better after having a little wobble and throwing some hurty names around then perhaps I've helped in some way.

"Jez FFX, give it a rest ffs you snivelling child"

Pull myself together? Not sure it's me who is having the hissy. I was just posting another observation about the possible consequences of todays' news.

It is woeful.

Assuming that there is still some kind of future for Nuformix after today, the big question now is whether the last 7 months will amount to anything more than a colossal waste of time. If Brindley departs before the data packages are completed then it is entirely possible that whoever comes on board after her will scrap the data-driven approach in favour of their own ideology.

So much for all the fawning about experience and past achievements. They amount to nothing if you lack the commitment and dedication to see the projects that you start through to completion. Maybe she can achieve that, I don't know. All I know is that another 6 months won't bring us to the 18 months that the Allenby report said we'd need to reach phase 1 readiness.

".. a company that had such potential and promise has been run into the ground by a succession of idiots in charge with different motives."

It seems to be the case to me that doctors don't make good directors. Perhaps we need a bean counter or a sales person in charge for a change...if it is not too late

'Mozax, just 6 days ago Brindley said "I believe we have a strong leadership in place to take the company forward."'

Yes Soup. I too seem to recall words along the lines of "The revised board is bedding down very well, it's going well"

I wonder if that's what Whimax is talking about means when accusing people of hypocracy?

I do wish people would stop making out that the 6 month commitment to remain is anything more than a contractual obligation.

Todays news has destroyed the share price by further 15%.

No one has done us any favours today.

"Not seen so much hypocrisy, vitriol and shiiite posted on the same BB for a very long time"

...along with the same old platitudes and excuses for those who don't seem to be able to see a job through.

"I can guarantee that if there was any hint that things were not going well/ as planned then she would not be staying for 6 months."

Really, even if that was the notice period built into her contract? It wouldn't look good to any prospective employer if she was prepared to breach that as well, would it?

How can you be sure that Dan was forced out in boardroom shenanigans? Why would he step aside for someone who held no shares in the company when he has such a large holding himself? It doesn't make sense. If it was really everyone vs Blackwell & Keegan then surely the 'concert party' held enough clout to be able to oust Blackwell at an AGM.

The only way I could see Oxilio actually finalising a licensing deal now is if they had absolute control over their interests in NXP001 IP to the extent that they could afford for Nuformix to go under. If that's the case then why not just play hardball, sit things out while we go to the wall and then just snap up NXP001 in the fire sale that follows?

I despair at the moment. If what we had been told about the products was true then all we needed was stability and time without another director putting the boot in.