Member Info for Holden77

The_Bit_Before,

You have written some very sensible comments here. If I was being cynical, I might begin to think you actually work for Align lol :-)

However, my "gripe" with Align was that they were going to call an EGM to "demand" salary reductions, re-payment of loans, dismissing a NED etc. and were going to "fight" for the shareholders of VAL. all very encouraging for the long term holders sitting on current big losses.

Then, after the meet, Align issue a two paragraph "update" basically saying they had a "constructive" meeting and look forward to things "unfolding in the months ahead".

No more "fighting" talk which makes me think something "positive" must have happened at the meeting??

..... otherwise Align would have been asking shareholders to collectively pledge their shares to accumulate a decent percentage holding to take their "demands" further and request the EGM in order to make changes.

No doubt all will be revealed in the "months ahead"

I'm assuming (and hoping) "months ahead" means the months ahead in 2018 and that we don't have to include any of the months in 2019?

In which case, the worse scenario is that we can expect a form RNS from VAL within the next 186 Calendar Days!

No offence to anyone intended...just my observations.

A paragraph from the UK Listing Rules ("UKLA") on the Financial Conduct Authority ("FCA") Website:

Price sensitive information is defined in the listing rules as information
which may (paragraph 9.1), or would be likely to (paragraph 9.2), lead to
a substantial movement in the price of a company’s listed securities. Such
information will include major new developments, changes in the
company’s financial condition or business performance or changes in the
company’s expectation of its performance.

IF Align have been made "inside" last week, I'm not sure how long VAL can wait before making an RNS to its shareholders?

Does anyone else have any thoughts please?

IMO, I understand Richard/Align's predicament (if they are "inside") as they cannot publish anything.

However, the BoD must realise that Richard/Align were supposedly representing a number of disgruntled holders who also deserve an update...in the form of a formal RNS?.

I'm not sure of the exact rules and for how long a company can withhold price sensitive information?

“Unpublished Price sensitive information” means any information which relates to the following matters or is of concern directly or indirectly to a company and is not generally known or published by such company for general information but which if published or known is likely to materially affect the price of the shares"

My thoughts are that Richard Jennings/Align was/were made "inside" following their meet last Friday.

Align were making reasonable "demands" from the VAL BoD...on behalf of the long suffering shareholders (and no doubt Richard/Align who also has/have shares in VAL?

The VAL BoD have to make an RNS soon?

I say this for several reasons:

1. The BoD have supposedly been in "serious" talks for some time now.
2. There has been no Director buying of VAL (even around the 2/2.5p levels) which would not be permissible if someone is interested in VAL doing their due diligence. A good sign ?
3. The BoD were able to stop Richard (Align) from proceeding with their "demands" to make drastic changes.
4. Whatever was said at last weeks meet must be price sensitive information and, my understanding of this is that the BoD cannot withhold such information from the wider audience?
5.

bp82

Do you mean we should all reply with answers like:

12.5p AstraZeneca (for example) ?

It seems as though the MM's are happy to take stock around the 2.98p level ......as they must have buyers above this price?

IMO

Next Wednesday, 04/07/18 is American Independence Day and a public holiday in the USA.

VAL always seem to release their RNS's on a Thursday.

Assuming we are going to get an RNS update in July, my guess (and wishful thinking) is Thursday, 05/07/18.

...or will it be the on 12th, 19th or 26th July....or nothing in July 2017!!

A few nice sized purchases (?) going through....

FYI, it was a year ago last Friday that Messrs Makinen,Agrawal and King were appointed to Form the VAL Advisory Board:

ValiRx PLC Formation of & Appointments to an Advisory Board
22/06/2017 7:00am("ValiRx" or the "Company")
FORMATION OF & APPOINTMENTS TO AN ADVISORY BOARD

One of Richards "demands" was Align wanted the VAL BOD to buy £100k worth (approximately 3.6m shares at 2.75p last week).... to show some willing.

Let's assume that VAL are in real discussions which can only be good. in which case, all the staff at VAL would be prevented from buying shares as they would all be "inside"

If an RNS does get published stating any BOD has actually bought shares then we know no such discussions are taking place?

In this respect, "No news is good news" springs to mind here.

My first thoughts were this was a great publicity stunt .

However, on reflection, Richard Jennings' comprehensive and "threatening" letter to VAL appeared genuine and some time and thought went into this with what seemed reasonable "demands"

If Align (Richard) had any doubts about VAL, they (he) would now be asking us shareholders to "gang-up" on VAL to carry out their (his) "demands"??

I suspect that the VAL team did a great job in making Richard (Align) "inside" which means he cannot divulge anything.

I see this can only be good news IMHO.

STATEMENT TO VALIRX SHAREHOLDERS
June 24, 2018 | Posted by admin

Following a constructive meeting with Dr Satu Vainikka and other company members last Friday at Valirx in which the 2 primary elements of our open letter were re-iterated: namely management alignment with regards to their Valirx stock holdings and the corporate capital financing approach pursued by the company in recent years, I believe that going forward these will be addressed to all shareholders benefits.

That the company has potentially very valuable products with material market penetration opportunities has never been in question and post the meet we are more emboldened in our view of the unique asymmetric risk/reward opportunity presented at the current stock price. We look forward to hoped for progress on the commercialisation front unfolding in the months ahead.

R Jennings

Plus, Gerry Dessler needs to come up with £41k!

Do you think Kevin Alexander (NED of VAL) will be able to sleep tonight? He was paid £26k last year and Richard Jennings (Align) wants him replaced!

Does anyone know what time Richard Jennings is meeting the VAL Board tomorrow. If the meeting is positive, we will not hear much over the next few days. (Align might be notified that VAL is in a "close period" and that what is said in these four walls, remains in these four walls. If he does not get some satisfactory answers, then I'd imagine Align will be moving to get their initial proposals implemented and will give an update over the weekend? If VAL do have any positive news on a JV, they have until 7am tomorrow to release an RNS to nip this in the bud! AIMO.

Thanks isas. I'm hoping that the VAL team will suggest Align (Richard Jennings) signs a confidentiality clause to say what is discussed remains "inside" and cannot/should not be made public. Better still, It would be even better if VAL makes an RNS prior to Friday, 22/06/18 in which case there might not be a need for this meeting.

Apologies if this has disclosed previously (I have been away).....Can anyone confirm if and when Richard Jennings is meeting the Key Management/Board next week? Thanks. H

15p!!!

I hope the BOD are not going to fob off Align by sending their Head of Operations or Corporate Development Manger to this meeting. The BOD need to step up to the plate now. Incidentally, can Somone please explain what a Corporate Development Manager actually brings to the table of VAL? Just curious to know if this is the person responsible for negotiating any deals/joint ventures etc. In which case, may be this person can pull a rabbit out of a hat soon!

May be these guys can convey our concerns to the board and get them to respect us long term (suffering) holders. Something needs to be done so I will be emailing Richard. I have 1.5m shares.