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It sounds like they've negotiated with several companies, reached a deal with one and are putting through the paperwork as we speak. And they've just confirmed they have enough time to do what they need to. An RTO is looking very likely imho. That obviously doesn't guarantee it will benefit shareholders, but at this stage it's definitely going in the right direction.

I don't know. I assume they know how to do their jobs better than we know how to do their jobs. If they say they've got a buyer but then fail to complete the RTO because they handed their homework in a day late, their credibility is going to vanish. So I expect they've got it in hand.

RNS - 18th March 2020 - "As announced on 28 January 2020, Motif Inc. ceased all operations and engaged Tamarack Associates to facilitate the sale of iclaprim and other assets of Motif Inc."

I've read nothing to suggests they're managing any warrants, and even if they are, why would anyone think they would tell us any more than Motif have?

Why do you think that would be useful?

It looks like the Microtox BT is further ahead than I thought. That's the first time I've heard that EU field trials are already happening.

I think the RNS I mentioned earlier (September 1st 2020) explains most of the points you've raised. But at this stage it's probably not worrying about if an RTO doesn't happen.

If it delists I presume it will be subject to the same rules as any other private company.

If they need 21 days notice for a vote on an RTO it will need to be called next week. Looking at the emails some people have got from Walbrook, I think we'll get an RNS by the end of next Friday.

I assume that any discussions with companies looking to go public would be strictly confidential anyway. So the lack of an update doesn't concern me.

If they didn't mention anything about timescale (i.e. 'imminently', 'shortly' or 'next week'), it sounds like they were just reiterating what was said before: "An update will be given when appropriate".

Roobler, did they explicitly say we're likely to get an update next week?

Or was it a vague 'an update will be given shortly', which could even mean a month from now just to confirm delisting?

Thanks for the update Roobler, and well done for actually managing to get a response out of them.

"so what date are you thinking?"

The end of January. I don't expect the company to wind down the moment it delists. I expect it to go private, which is bad news for us but should still allow us time to call a meeting and demand some answers.

There are quite a few plausible reasons for a lack of an update. Some are good for us, while others are bad. So I don't want to jump to conclusions and then jeopardize the chances of an RTO by taking their focus away from that when time is crucial.

I'll stick with what I said before.

I'd rather wait an extra week for an explanation if it means letting them get on with it while there's even the slightest chance of an RTO.

There's no way a meeting could increase the likelihood of an RTO. But there is a chance it could decrease it.

If they're under obligation to arrange a general meeting there's a chance they would prioritise that over the RTO. That would mean having to dedicate some time to arranging it when their time might be better spent on other things. It's not like we would have anything to lose by waiting until just after it delists (if that actually happens).

rooblertwo - "So it looks like we have enough to call a general meeting at the right time."

That's quite possibly the worst time. If it's called by the end of the year and they have to give 14 days notice, the meeting will be called during the last few remaining days that an RTO is possible. The right time would be two weeks later or three months earlier.

I disagree. What do you think would go into arranging and holding a meeting under the present circumstances?

Keep in mind that we don't know whether they also have to fit in meetings with the companies they've reached the term-sheet stage with, as well as their lawyers, investors or other parties.

Wouldn't it make more sense to leave it another month to concentrate on an RTO, then force a meeting only if it delists?

Is that because most fail, or because they get bought out before approval?

Weird thing to gloat about...

That shouldn't take long. What would your options be if you find one?

Is it just about having a rock-solid reason to berate the BoD or would there be more to gain?