The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
You are going on old information from the interims. Since then the company has aggressively cut costs and exited Bulu PSC. In the annuals the going concern is signed off until June 2021 which is past April up until which the company has RNSd sufficient liquidity. Andy has been emphatically clear that they have no need to revisit the market prior to April in light of the above. Feel free to contact him yourself to confirm.
Communicated with Andrew Dennan who confirmed today as per the RNS statement below there is NO fund raise required before April 2021.
“As at 31 March 2020 the Company had unaudited cash balances of approximately $4.5 million. Despite this strong cash position, the Company considers it to be commercially prudent to significantly reduce its cost base given it is not possible to predict how long current difficult market conditions will last.
The Company is therefore now proactively implementing a material cost reduction exercise to position the Company for current circumstances. This will see a reduction of approximately $2.3 million of General and Administrative costs on an annualised basis, resulting in the Company having sufficient working capital to meet its requirements until April 2021, when the second annual coupon payment becomes due on Tranche A of the Company's EUR 22.5m 2022 Eurobond.
I had comms with Igor today. Finance is on track as expected and terms are non dilutory as others have stated here before. Obviously he couldn't state when they would update the market but my feeling is it is imminent. A few regulatory delays but we're almost there
STAR investment case is compelling. Once the company confirms their non-dilutive funding plans for growth the potential SP appreciation from a £4.5m mcap is huge. AAA blue chip clients who are aligned and a healthy sales pipeline of deals waiting to be converted as per recent RNSs tells us all we need to know.
- FY revenue $59.4m
- Positive EBITDA
- MCAP £2.1m
- Nominal share value 1p
- Good prospects for winning further orders
- In "friendly" negotiations with Ruyi Group
- Fully resourced to support its current activities
- Open market buyer holds 13%
2. During April 2019, the Company raised £637,500 ($829) thousand before expenses through a placing of 51,000,000 Ordinary Shares.
3. During June 2019, the Company granted its Chairman 880,000 new Ordinary Shares of no par value at a price of 1.25p per share in order to partially set off his credit balance.
4. The Group has accumulated operating losses over the past few years and is dependent on securing financing or infusion of capital. The Group is convinced that sufficient loan facilities are available to cover its cash flow requirements.
that's probably why. AW left the building.
Anyone tried contacting the BoD of late. I usually get a swift response from both CEO and CFO but not this time around?
I am also a relatively new comer. Must say i am disappointed with the BoD performance and lack of comms. I can see why the LTHs feel hard done by. The company have to turn it around now and with price at all time lows the risk reward here is compelling. The board will need the price to be above the 1p nominal value if they are to regain investor confidence too. A run to 1.5p+ is realistic and it should come quickly once the market senses production and revenue is actually happening.
40% increase in revenue EBITDA positive Massive reduction in net debt
Latest presentation can be found here:
https://www.aegplc.com/investors/corporate-documents/
Select presentations and it is there dated April 2019
Just keep all options open mate. We've been here before with our HNW Chinese investors. It's Sheikh Maktoum's fund managers buying not the fella himself. I do hope this buying is indicative of bigger things to come as LTHs really deserve some payback. As for shirt term newbies, you will do well so GL. I'm signing off for now as this board gets swamped by traders who will be gone as quick as they came
We should question where the Chinese enthusiasm has gone? They've stopped buying the stock allowing colossal dilution of their stakes. Stefan's salary is still over £250k per year which is farcical. This is a lifestyle company and will remain that way until something significant changes. Plenty of speculation regarding sheikh Maktoum's intentions which is why we have the sudden interest in MXO shares. If it comes to nothing but an empty ramp there will be plenty getting spiked so do lock in profits folks on the way up. This is a high risk investment for now
Difficult to say at this stage until we have further information. We've been here before however with numerous high net worth Chinese billionaire(s) buying up >50% of the float. Johnny Hon even installed his man, Richard Carter, on the BoD but nothing came of it. Chinese were buying at significant premiums and put in over £11m into the company. Sheikh Maktoum put in c. £500k at a ridiculous discount (0.04p) and took hundreds of millions warrants at that price too. The HNW Chinese were subsequently diluted to oblivion with their £11m+ cash injection now valued around £1m. Fundamentally nothing has changed, the company is losing cash, profitability projected for 2020 which means we will see at least 2/3 raises before then. Sheikh Maktoum fund will do well already x4 up on his investment. I wonder if he will come and go like Johnny Hon did, I'm not holding my breath. Good luck to those in from much higher and of course all the traders who are playing the momentum.
800m warrants issued at 0.04p, wow! It was a lights on raise which the company has evidently struggled to get away
https://twitter.com/TMSreach/status/1115521864170975232?s=19
Try LinkedIn mate. That's how I got him