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I have just concluded that it’s the market’s poetic way of offering everyone the same discount as all those folks in the “smoke-filled room”. A form of “fvk you”

For me, this is the key paragraph in today’s RNS:

On 28 January 2022 certain of the Independent Directors together with a representative of their financial advisers met with Vin Murria and Marwyn Investment Management ("Marwyn"), the two largest shareholders of AdvT. At the meeting, those Independent Directors reiterated the concerns previously raised in the Company's announcements of 7 and 24 January 2022, including the continued undervaluation of the Company; the strategy of the enlarged AdvT group and, in particular, the lack of clarity over the deliverability of, and execution risk associated with, their proposed 'digital-led M&A' strategy; the impact on culture; how AdvT intends to ensure the retention and appropriate incentivisation of M&C Saatchi 's key management and employees; and the valuation of AdvT's ordinary shares.

I mentioned the point about key SAA executives in a previous post. I really cannot see the deal going through.

Seems like the market hasn’t been convinced of the value of this buyout: $1.5m up front, followed by a further $1.5m in earn outs over 3 years. With Annualized revenue of $1.2m, running costs of $500k, and zero net tangible assets, it doesn’t sound convincing really.

The ROIB team need to demonstrate their worth very quickly - ideally before or when the Full Year’s results are announced on 23 March

Thanks @chrisneo for your kind words

I feel that ADVT will have to increase their offer substantially if they hope to succeed with their bid. But before they do that, they will have to ensure that they have the majority of the SAA board in agreement with their proposal.

It’s complex of course, as it always is, but if VM thinks that her senior management experience with Tech or IT companies has any correlation with senior management within the advertising business, she needs to think again. SAA’s key clients have selected the company as much for the executives that run their accounts, and the creatives that produce the work, as they have for the pedigree of the Saatchi brand. None of them will have signed long term let alone permanent contracts with SAA, and most contracts will stipulate that a change in key personnel (names will be named) will trigger the possibility of an account review. Terms offered to the SAA Directors will have to be extremely generous, just for starters.

Not that anyone reading this will necessarily believe me, but I spent nearly 20 years in the advertising industry, hence my post. I also hold shares in ADVT, so I find myself somewhat conflicted - although tbh I invested in THAT company because I expected their investments to be within her area of expertise rather than advertising. My investment in SAA was based on a recovery play from my entry point at 125p following the accounting debacle and the departure of board directors responsible for it.

Yes, I sold a little too early in the day (121.4) back on 10 November, but happy to have done so since I now have the opportunity to buy back in 10% below my exit price. It will be interesting to see what emerges from the scientists about this latest variant, since ITV is currently anchored in the UK market as far as SP movements go. We may well see sub-100 prices again if there’s sufficient fear about a new, more virulent wave of Covid.

And no, I’m not a new account for Bournemouth Tom London, but it would serve a number of people on here to at least consider an alternative point of view. Or are these boards meant to be echo chambers?

It's probable that there will be a retrace after all the day-traders take profits, and lots more like me have taken the opportunity to hit the exit with a reasonable profit. All the good news in the Q3 Trading Statement is now in the price, so it's time to bank a profit and keep this one on the Watchlist

GLA

If you consider how long we have been waiting for final sign-off of the Amapa deal, I feel that it would be a grave error to be shouting from the rooftops that our deal is nearly done. PR’ing a “nearly done deal” is more harmful than helpful.

Then think about the cost of recruiting either an in-house specialist, or a PR Agency that is knowledgeable & connected in our field. They don’t come cheap, and they won’t have been doing a great deal to earn their pay over the last few years. Some on here might even have been complaining about the excessive cost, and the need to liquidate even more of our other assets to pay it.

Only IMO, it’s likely that Kiran has a PR firm in mind for the time when he actually has something concrete to announce. In the meantime it’s the broker, WH Ireland, that should be trying to generate interest and coverage.

It must just be the poor updating on this site. There’s a news piece that covers the positive trial results.

Surely now they must issue a statement (RNS) about the price movements - the volumes are too significant in relative terms for it to be just “market fluctuations”?

It’s been disconcerting to see such a significant drop in share price over the past few days. Certainly leads to a suspicion of a poor update on Pollinex Quattro trial results as mentioned by Padd1. There are some AIM shares that are notoriously leaky, but I hadn’t considered this to be one of them.... until now, since the volumes are significant too.

However, on a positive note, it seems that we have significant price support at ~33p which still puts us way ahead of historic prices. I’ve decided to wait this out.

Yes, I’m in on the same basis jimjam

I still think the balls of steel brigade will end up with a nice polish. Instead of being an even-money shot priced at 10-1, we’re now looking at an odds-on runner priced a little bigger IMO - DYOR etc etc

Allergy Therapeutics announces details of secondary endpoints
from successful VLP Peanut 001 trial

- Ex-vivo data for VLP Peanut support a beneficial efficacy profile
- Demonstrates reduced ability to trigger immune cells associated with allergic reactions
- Findings complement primary outcome of hypoallergic potential of VLP Peanut and provide confidence in upcoming VLP Peanut first in-human Phase I PROTECT study

13 September 2021 Allergy Therapeutics (AIM: AGY), the fully integrated commercial biotechnology pharmaceutical company specialising in allergy vaccines, today announces the secondary endpoint results from an ex-vivo biomarker study VLP001 which evaluated the Group's novel virus-like particle (VLP) based peanut allergy vaccine candidate ("VLP Peanut").

The secondary endpoint results demonstrated a reduced IgE binding capacity to B cells of VLP Peanut suggesting a promising safety profile with reduced potency to induce allergic reactions.

Further, the results provide a strong indication for the products' efficacy potential, promoting a class switch from the allergic Th2 pathway to the more tolerogenic Th1 pathway;

· Lower ability to elicit Th2 and Tfh (T follicular helper) cells
· Strong ability to promote IFN- ? and Th1 cells
· Promotion of selected regulatory B cell subsets

Previously announced primary endpoint data demonstrated a significant 24-fold reduction in basophil activation and histamine release compared to exposure to the major allergen Ara h2, these results provide strong confidence in the beneficial immunologic mode of action of VLP Peanut.

The VLP001 study took place at Imperial College London and evaluated the Group's short-course VLP Peanut vaccine candidate. In combination with the primary outcome data, these secondary endpoint results are encouraging and provide strong support for the human translation of the pre-clinical results and strong confidence in the data to be generated in the planned Phase I PROTECT study. The data also provide important information to establish the starting dose for PROTECT, which is expected to commence in Q1 2022.

The Group's Chief Executive Officer, Manuel Llobet, will host a webinar on Friday 17th September, when he will be joined by Dr. Mohamed Shamji of Imperial College London, who will provide an overview of the results of the VLP001 study. In addition, Dr. Matthew Heath, Principal Scientist at Allergy Therapeutics will be discussing the scientific background of the vaccine candidate and the concept of using VLPs to address peanut allergy. Those wishing to view the webinar are encouraged to visit the Group website

https://ir.q4europe.com/solutions/allergytherapeutics2018tf/3856/newsArticle.aspx?storyid=15182551

This is the RNS as published on AGY’s website

Thanks for sharing this Techno, it’s very helpful and should dampen the rather wild speculation on here - if only there was a way to ‘pin’ your post!

small trader - sorry it’s taken awhile to respond.
You’re right. I stand corrected. My prior understanding of earnouts was that they have variable terms, and are therefore difficult to nail down. However, I’m now assuming that the best forecasts are included as debt even if they are variable & subject to adjustment.

In any event, your interpretation was clearly correct. Apologies for doubting.

Exactly, EV_Bull

There’s a legal process required to make this happen, and the matter is in the hands of the Courts. Most of us with experience of legal matters will know that progress is dictated by the process, and if the banks want to drag their heels in search of more favourable terms - or just because they wish to be obstructive - and the process allows them the opportunity, then it's a matter of simply waiting. There’s nothing that KM can do. Perhaps his error has been his optimism.

Meanwhile Nick has more than doubled his £22k investment and still wants to moan....

Nick2151

Do you think that KM is the judge presiding over this case? Or do you actually think that he might go and visit the bank officials and convince them to sign the agreement over a cup of tea? Do you even think about what you post?

Thanks for the heads up. A perfect candidate for filtering. Doesn’t even have obnoxiousness to his credit.

The 2021 Trading Statements were both very good. Unfortunately it’s AIM, added to which, correction RNSs don’t go down too well