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Without a deal on the £2.5 million or a deeply discounted placing the cash runway runs out in a couple of weeks or so.

Market doesn’t agree James.

Next step down takes this to sub £4 million valuation.

Market definitely seems to be pricing in heavily discounted placing as time running out with cash only for a few weeks without a deal.

Laura - problem is (and market starting to price in) is that the 2.5 million payment is in dispute and cash runway only lasts until next month without it.

Market believing that a heavily discounted placing will be needed to shore things up short term. Of course if they agree something then the trend may reverse but at the moment it is risk off for investors.

Last year saw a trading update on 6th May followed by announcement in same day of a 100k purchase by the CEO.

So hoping early this week we have the same and can see real progress on Oltimal plus an update on the NCI deal.

James - I think the market is speaking. The price is falling as the likelihood of a deeply discounted placing grows closer.

Big - exactly. With just a few weeks of cash left, a market cap of circa £4.5 million and the need for at least £2.5 million to get a cash runway to December then to buy now is a massive gamble as any placing is going to kill the price short term.

TEK yet again does not put out an RNS when there is a dilutive placing at one of its companies and the price collapses!!

No wonder the price is so weak and set to go lower imho

Problem here is timing and cash. Today we enter May and cash runway lasts until June unless the payment by Haleon is agreed which at the moment it isn’t.

Unfortunately the announcement that the board also looking at dilutive funding means many investors will be put off until that is sorted which likely to be a heavily discounted placing at say 0.5p.

Let’s see if CEO pulls a deal off in next few weeks. But that is why I think No1 that the price has weakened and remains weak.

Based on the Group's current forecasts and excluding receipt of this milestone, existing cash resources are expected to provide runway into June 2026

o The Board is actively considering a number of dilutive and non-dilutive funding and strategic initiatives to extend the Group's cash runway beyond June 2026 if the receipt of the US patent milestone from Haleon were to be delayed. Whilst active discussions are ongoing and the Board is confident , there can be no certainty of the outcome of these discussions

James - the CEO said in the presentation that their legal advice was that the money was owed due to the conditions being met.

Never a good sign that they have had to resort to legal advice! That means there is a dispute in my view otherwise why say it. Also look at the wording in previous RNSs around expected to receive it rather than it will be paid. Anyway let’s see. They might come to a settlement. Meantime clock is ticking for them to secure more funding around June.

Think we can safely assume they are in dispute as to whether the payment is triggered. So best to assume not going to be resolved in time for the finances here so have a cash runway until June.

In talks on other financing but prepare for worst case scenario a deeply discounted placing. Then it might be worth a punt.

Mmmm. Not great. Clear that Haleon seem reluctant to pay the milestone. That being the case could be dragged into a legal dispute where FUM have no money.

Looking at dilutive funding which likely to be at no more than last placing but likely a lot lower.

Long term bottom drawer at best me thinks. At least picture now clear.

Donkey - the6 said in their 4 Feb RNS that the results of the review will be in their results. See below extract:-

As previously announced, the Board is undertaking a strategic review of the business and its operations which is expected to conclude in Q1 2026. The outcomes of the review will be published in the Company's Full Year Results which are expected to be released mid-April 2026.

BAD think you should call it as it is. So many promising companies and potential value to TEK shareholders if they had paid out special dividends when companies were going well. Instead dilution after dilution, companies failing or going bust.

I note even the SALT RNS today makes clear that it is not regulatory and will have no impact on managements expectations!

Hype around Guident seems to be waning too. With the history of how TEK has failed to reward loyal shareholders I don’t hold any hope Guident float (if/when it happens) will make any difference beyond a small tick up in price which will be sold into for folk to get out.

£10,000 purchase straight off the bat this morning. Interest building.

Full year results on Wednesday with outcome of the strategic review and investor presentation.

Time to get the view from the top of the new strategy, prospects and timescales.

Management got skin in the game with warrants at over twice this price. Looking a very interesting situation.

Adrian already hinted that a takeover could come as the company becomes more visible. Some big deals at mega money in the pharma sector going on.

Would not be surprised if we attract a bid anytime soon, possible even by the NCI?

Are you not joining the party then surfie?

Rising nicely again. Just saying………

Volume picking up, price picking up fast and results plus presentation and result of strategic review next Wednesday.

Looks like market knows there is some great news coming. All aboard….

Results are due anytime including the result of the strategic review by the new team.

Should act as the strong catalyst to boost the company and the products in development.

Sadly for folk still holding this/traders locked in it certainly looks like this is going private via a delisting.

No talk of replacing the chairman and non exec who have resigned with Fowler taking chairman’s role as well.

I sense they will leave it until the time runs out for nomad to be appointed then delisting and they get the company without any regulatory oversight etc with final insult to shareholders who have supported this.

Another AIM shambles.