Member Info for ForFXSake

It is certainly a possibility Halespur.

On reflection, the very short notice period that Joanne Holland has to serve suggests that yesterday's news may have been planned for some time and may be linked to something like that.

I'm curious about the state of the Oxilio deal. Why would Keegan or Holland depart before the deal is finalised and risk driving the sp down further? Is the environment at NFX still so toxic that neither could wait any longer or is something else afoot.

I really don't know what to expect anymore but let's imagine that someone does come in with a paltry bid. It might not be the end of the world. Past experience has taught me that there can be more than one interested party waiting in the sidelines for someone to make the first move.

I completely agree with what you say there Jiving. I invested here using the same rationale: big director holdings should equal big commitment.

My criticism was really levelled at the NED multi-job culture where individual performance is not openly gauged for all shareholders to see.

I would agree but is that realistically possible without the person who has all the knowledge of that IP? If I thought we were about to be acquired then it wouldn't be so bad but this daydreaming BoD are talking in timelines of years!

I know Holland is supposed to be acting as a consultant advisor but for how long? She clearly wants out and once her new projects kick in then her willingness to devote time is likely to diminish. Will Alex replace her or can we expect his resignation soon too?

Will any partner be willing to strike a licensing deal with a company that has lost the main person with all knowledge of the IP? Is that not a huge risk?

Are these not reasonable questions to ask? It feels like we've been shot in the back today. The CEO needs to steady this ship with some clarity on a way forward very soon.

Yes OBW.

She could start by telling us what on earth this company has left to offer it's shareholders now that the person who generates the IP has handed her notice in.

5 positions! Now that is truly giving George Osborne a run for his money.

I'd probably laugh if I wasn't already crying.

Really?

I just took a look at ADVFN board for Feedback plc. I'm not sure they agree.

"both the new Chairman & Anne must have seen substance in the portfolio or they would not have joined. I hope they both get decent sized warrant allocations".

If the NED's achieve something then fair enough but where does it state what those targets and objectives are? How do we know that they achieved anything tangible at all and why are these warrants not forfeit if they leave early in preference of some new venture?

What protection do shareholders have from unscrupulous individuals who might breeze from company to company as NED's acquiring warrants which could benefit them even in the event of a fire sale?

This system of warrants seems open to abuse to me if clear, transparent targets are not set out for all shareholders to see.

Red_rag, very sorry to hear that you have been forced into making that decision. I fully understand how you feel. It has been a bitterly disappointing experience so far.

I don't know how long today's announcement has been in the planning. This must be the only company in the UK that affords its key departing directors such a short notice period before jumping ship. Gooding was offered the same luxury, if I remember rightly. How nice it must be to so easily free yourself from the shackles of responsibility.

I've been reading the nonsense on there too. Still piping on about sellers out.

I have to say, I didn't think things could get any worse. I guess we know what all the volume was about now...and why certain TR1's remain unaccounted for.

It's disgraceful how the lth shareholders of this company have been treated.

That's fine. Everyone's entitled to their own opinion.

Can you show me evidence to the contrary that explains why this is good timing and news?

Well they've done a sterling job of adding value today.

If this is a good thing then where is the positive PR spin from Walbrook? Did they even know?

I cannot see how this would help Oxilio negotiations unless they were already complete and I cannot understand how they would not offset this extremely concerning news by announcing a completed Oxilio deal first.

The management of this company has been rank amateur, at best. I guess this is what you get when you let doctors and scientists play at being business people.

I can only hope that the company is on the verge of being sold, albeit probably for a pittance. I can't see how it can continue in any other form. I don't care about Keegan. I can't see what he's ever delivered and, as I've said before, I'm always wary that multi-taskers with cross company ties are too busy feathering their own nests to be able to have any regard for the shareholders they are supposed to serve.

Holland is a different story though. Her name is on the patents. How long before we lose Alex now? Those two were the science behind the business.

What I really don't get is why Keegan and Holland did this in unison. It's like they wanted to deal the killer blow.

Absolutely Chablard!

I think this morning all long term holders are struggling to feel other than sick and utterly betrayed by every member of the original board.

Why didn't they close out Oxilio before this announcement was made? How is this going to strengthen their position in any negotiations? Where is the positive spin from our new PR company?

WTF is going on with this company?

Good find. Thanks for sharing SoupDragon

It's all ticketey boo then!

Best not hope for things to take off too soon, I suppose. God help us if these jobs suddenly become full-time.

Oh, I nearly forgot, Maddy is also part time.

As an aside, I notice that we don't appear to have a Chairman anymore:

"Role of the Chairman

The Chairman is responsible for leading the Board and focusing it on strategic matters, overseeing the Group's business and setting high governance standards. He plays a pivotal role in fostering the effectiveness of the Board and individual Directors, both inside and outside the board room."

Who is doing this role?

Anne, Julian and Karl all have roles as consultants, NED's or other directorships in other organisations. If your time is not 100% committed to a role then I don't think you can call yourself full-time. Check out Linked-In for yourself if you're not convinced.

The fact that we now appear to be in a trading-range is probably more to do with the fact that there is very little for the price to drop any more. At least the pump n dumpers will be happy about the trading range.

"The Company has entered into an agreement with Muhunthan whereby he will be granted options to subscribe for up to 6,000,000 new ordinary shares of 0.1
pence in the capital of the Company, conditional upon the achievement of various clinical development milestones, at an exercise price of 50% of the
trailing 30-day average share price on the date of achievement of each milestone and subject to a lock-in agreement."

Do we know what those milestones were?

I wonder why is he no longer mentioned though. I would have thought that telling the world that we have an influential lung specialist as an advisor is the kind of PR we would want to make use of.