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A copy of the Circular and this announcement will be available on the Company's website shortly: www.valirx.com.
It will be interesting to see what proposals are on offer here?
As only one person holds 4.5%, the remaining 95.5% are in the public hands so VAL need to come up with something positive/good to get these proposals through??
Or, am I missing something?
On LinkedIn, I states that VAL's Corporate Development Manager has updated their profile stating they have a new position with Riverfort Global Capital (as their Business Development Manager).
The Valirx website still shows this person as being a member of the VAL Management Team.
One for Tarquin?
I'm sure I read on hear that someone had written a formal letter (to Theresa May or the relevant department?), requesting an update on how this £75m of new funding was to be allocated. Also, that they would respond within ?? days?
Just wondering if anyone knows the answer or can give an update please?
Thanks,
Elil Lilly & Co. are in the business of acquiring promising oncology/drug companies.
If this company was thinking of acquiring VAL (and I'm not suggesting for one minute they are) would the eagerly anticipated RNS the headline could be along the lines of "Lilly & Co. acquires Dilly & Co." :-)
Just for fun.....and to relieve the boredom of waiting, can anyone think of any other potential RNS headlines?
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.
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!!