Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
@Whippet I wasn't deramping, just stating that I wouldn't put it past the BoD to sell off the company with the condition that they somehow become connected to the buyer, so that they (The BoD) can still benefit if/when the compounds reach the point of commercialisation...thus shafting lth's but still benefiting themselves. please re-read my original post before you start blasting me.
I was originally very optimistic when I first invested, years back, and even averaged down numerous times as the shareprice began its sharp decline in the hope that things would turn around. Unfortunately due to the financial ineptitude of the BoD to arrange financing deals, it has decimated my investment and optimism.
To let the share price slide to just before rock bottom, then sell the company for pittance and shares in buyer that takes over...thus shafting lth's that have supported and helped fund the research over the years, whilst making sure that they themselves are well compensated and positioned to benefit if the treatments are eventually commercialised. Aimho
Before I get slated by shareholders, I do hold shares and have now reached the point where my holding value has been reduced from £10k to £400.
Condolences to Oliver's family, I really hope ValiRX don't place all the blame for the recent failed finance deals on him...
Maybe it will act as a deterrent to other shady AIM companies and we can all shout "IT BLOODY WORKS!" as it's happening. AIMOO
@Minnissage. They've probably backed out of the presentation for fear of being asked the questions mentioned in the 08:58 post by ValJu...or possibly from fear of being lynched by disgruntled shareholders...
Bet it drops into the red before lunch... As it always seems to do.
That maybe the share price is being driven down so that EHGO, ends up with more shares as part of their agreement termination fee? £212.5k worth of shares that "could potentially" be worth a pretty penny or so, if the BoD actually managed to save this train wreck of a financial mess.
The Company has raised £300,000 of gross proceeds through the issue of 150,000,000 new ordinary shares at a price of 0.2 pence per ordinary share ("Placing Shares"). The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company. Application has been made to the London Stock Exchange for the 150,000,000 new ordinary shares to be admitted to trading on AIM ("Admission"). Admission of the shares is expected to occur on or around 18 June 2019. The net proceeds of the Placing will be used principally for the Company's immediate general working capital needs and to progress the Phase I/II clinical trial of VAL201 to treat prostate cancer and associated metastatic conditions to the conclusion of this stage of the trial and initial data readout and to continue the development of ValiRx's pre-clinical VAL301 and VAL101/GeneICE programmes towards the clinic.
Following the Placing, the Company will continue to manage its working capital position. As previously notified it expects to shortly receive proceeds of approximately £150,000 from the sale of an unlisted security and it also expects to receive a R&D tax credit of £400,000 from HMRC in July 2019.
Issue of Warrant
The funds were raised through the Company's broker, Novum Securities Limited ("Novum"). As part of their fee arrangement, the Company has agreed to issue Novum with a warrant over 7,500,000 ordinary shares in the Company, which can be exercised at a price of 0.2 pence per share until the third anniversary of the issue of the warrant, subject to the Company being granted sufficient headroom to issue ordinary shares at the forthcoming Annual General Meeting.
Update on Subscription Agreement
As announced by the Company on 10 June 2019, the Company is in advanced discussions with the European High Growth Opportunities SF (the "Investor") to agree the termination of the entire Subscription Agreement. The Company and the Investor have not yet come to a definitive agreement in relation to this matter. The Company expects that a payment will be made to the Investor of not in excess of £150,000 in order terminate the agreement. A further announcement will be made in due course.
The opening sp will be today? Also, does anyone think they'll follow up with another placing rns on Thursday for the other compounds?
Thank you Kernowken. That makes more sense after your explanation.
I thought that only changes of +/- 1% or greater to a holding that is above 3% needs a notification.
NS's % went from 4.54% down to 3.78%. I'm no math genius but I think that's less than 1% change.
Any geniuses care to explain?
If VAL manage to get the resolutions passed and issue the full amount of shares allowed our shareholding will halve in value if new shares are issued at current price? Our shareholding will reduce further still if the BoD issue all the allotted shares at say 1p?
...how a certain somebody, who has been prolifically negative about this share go radio silent. I'm sure they'll be back if the sp starts sliding, shouting "dead cat bounce!" in the meantime, lets enjoy the peace and quiet.
...now offering a bid price of 2.9p to buy a 200K chunk of my shares, let's hope today's momentum holds before the tasty RNS is released.
That is an uncrossing trade. See explanation below: What really happens at 4.30 when the market closes is the "closing auction" ( if there are any potential trades left on the book), anyone at this point with Direct Market Access including joe public can enter their bids/offers for the stock, from here lets call them buys and sells, its easier. What the SETS system is trying to do is give the official closing MID price for the days trading. The participants have 5 minutes to enter what price they will pay for or be prepared to sell their stock for at this point, no-one is trading here, just entering. Furthermore, their entries have to be within 5% of the last AT trade of the day. The last AT trade was at 16.5p, so the range for the entries of proposed buys and sells must fall between 15.675 - 17.325p. After 5 mins and all the entries are in, the SETS computer swings into action, and what it does is calculate from the entries the HIGHEST VOLUME trades that can be made, the MOST shares it can UNCROSS from one side of the book to the other. It is literally "matching" any trade that will trade at the prices on the book, if you see what I mean? This little excesise takes up to 30 secs above the 5 min auction. The resultant figure becomes the UT ( uncrossing Trade) for the day and the official days closing MID price...which in our example .. 16.35.14..... 1750000 @ 17p....UT. So the UT you see every evening at something like 16.35.+30secs is NOT a BUY, is NOT a SELL.. but half and half, it is a Volume figure. It is recorded as a buy or sell like all trades are: a guess based on which side of the "last mid" it is. The 17p official closing price is then taken forward to the OPENING auction at 7.50am the next day where the city johnnies do the whole auction thing again until the 8.00am open.
AXON +115% now
31-May-18 16:35:19 661.70 7,799 Sell* 665.00 672.00 51.61k O 31-May-18 16:35:09 661.70 479,298 Sell* 661.70 662.00 3.172M UT
... for the traders to clear out with their profits over the next couple of hours and then the big boys will scoop up the shares later. Remember the rise didn't really start until 1pm yesterday. Aimho dyor
14 x 25000 share buys at 14:42 1 x 132100 share buy at 14:42 and a handful of smaller buys somethings happening...maybe a leak and an RNS this afternoon?