Member Info for Letitrun

Same here. Enough is enough with this rogue ceo. The circular RNS was a total embarrassment and instead of explaining their actions acted combatively defensive. What we wanted to understand is why they thought the cheap price & massive dilution benefiting a close associate of the ceo was the right thing to do. It’s blatantly obvious this was to benefit the CEO’s position at the expense of existing shareholders. Trust is gone.

As can be seen by the recent flurry of news the share price has drastically increased. This just goes to show should effort been applied the ceo would have gotten shareholders good value and none of this would be going on. Instead the ceos mate comes aboard with over 20% of the company for dirt cheap at almost all time lows when company looking strongest. Shareholders will be stuffed if this ceo remains. I will be voting for all proposals. As for what happens next, the company will continue to grow with the same customers SOH brought aboard which is where the financials are coming from. This ceo must think we are stupid to think those results are anything to do with him.

From what I gather the intention was to go on to AIM after AQUIS so that it would be cheaper than a direct listing and more efficient use of funds. It is appearing Steen has other ideas to this. Opti CEO put this on a plate for growth with the same partners Opti onboarded driving pbx growth to date.

Shocking they’ve gone ahead and allotted shares. We don’t know the full background or evidence from both company’s but to ignore the founding company and major shareholders on this shows a complete disregard & total lack of respect to them, all other shareholders & potentially the law. This makes Steens role untenable. There’s absolutely no way he can continue. I hope Opti call an EGM, I will vote all my shares to oust this rogue ceo. I certainly will not add whilst he remains, he’s made it clear he is not looking out for shareholders (unless they’re in his circle) and it’s inevitable he’ll look to dilute again to consolidate his position at the expense of all long term holders.

They could probably block the board appointment and still vote him out?

This AGM claim is obviously a technicality found by Opti to block this raise. I am fully in Opti & SoH corner as it stinks of corporate greed. I find the PBX response interesting as surely Neil & SOH would know if the correction was made by the chairman at the AGM and wouldn’t make themselves look silly like this. Also, whilst a typo it makes a material difference to the resolution. If corrected as they say, surely an updated announcement should have been issued which I have seen before at other companies when typos have been made. Either way I can’t see how Steen remains CEO of PBX which surely would have been a key reason for the new investor to come in.

Opti would have voted knowing it is likely the company would need extra funds so I doubt this was an oversight more support for the company. SOH couldn’t have foresaw Steen, who on surface looks to be a top appointment having no interest in speaking to the market as a plc ceo and not caring about existing shareholders with a massively diluted placing to a single investor he knows well. The timing right after decent results doesn’t sit well at all with me. Is there anything we can do to oust Steen. This whole thing is disgusting.

The underlining theme is Steen does not care about existing shareholders. Did he not think it seems a little unfair to give someone 23% of a company at a suppressed price when he’s put no effort into working the market to protect our interests. If he’d attempted to gain some interest and got the price moving a little after the interims and then raised with a 10% ish discount then you’d probably say fair enough. He’s either cunning or he doesn’t understand the role of a PLC CEO.

That’s the risk and maybe the reason for lack of communication or engagement with shareholders at Probiotix. By keeping the price low he’s allowed someone to take a quarter of the company at disgracefully low price effectively shafting existing shareholders. Good on Opti for trying to stop this. The risk is they do the same next year and Steen & buddies take complete control of the company Opti built and put on a plate for growth away from its loyal shareholders. It’s disgraceful to raise money at £4m valuation when on for £2m sales & close to profitability.

Whilst I agree it would be better placed on AIM its stock performance & liquidity isn’t entirely the result of the exchange it is on. There are several stocks trading fairly well on AQUIS with tighter spreads and reasonable liquidity. The main difference being management engagement with shareholders and stock promotion. Great results today which should be shouted at the market and followed up with various PR, instead released on a Friday. The management need to sort this and it wouldn’t take much to get the stock moving. Its market cap is extremely low in comparison to peers, growing well, profitability on the horizon. It’s a very easy sell to get investors interested & get some buy in at these levels which will improve liquidity, spreads & share price!!

It’s clearly far from sailed with DSM Firminech taking sweetbiotix forward forecasting major numbers. Tate & Lyle in comparison over ten times smaller. Sweetbiotix the biggest opportunity in the stable, far greater than Croda with SBTX which everyone over there thinks will be the biggest opportunity. Huge market demand for this type of product. Organic sales still slow but heading in right direction with some good developments which could ramp up. They’ve done the hard graft in getting in with these companies now need market traction from the launches.

Company’s issue forecasts via their house broker…..it’s not difficult to grasp. Toyin interprets the facts to suit his silly petty point because he’s so head over hills for SBTX he’s another who’s lost track of reality. He needs to speak to a broker to fully understand the process of issuing company forecasts because he sounds like a complete tool every time on this subject.

You disagree because you are still shamefully ramping SBTX to high heaven but now instead of subscription numbers the fantasy algorithm is your pump. When that’s proven to be ridiculous what will be next?
The expectations were exaggerated here too, I agree. However, the difference is that Opti ceo in the interviews I saw tried to give a reasonable impression of the opportunity of the deals whilst always adding numerous caveats stating these are new products & new partners and that he doesn’t have a crystal ball. The Opti bod resisted rampy forecast pressures from shareholders and put out their first one last year and hit it. The complete opposite scenario of this just occurred at SBTX. If you disagree then It is likely you have too much money invested in SBTX. Both companies should deliver over time but lets realistic.

Belgrano think the ceo just stated how it is. Ceo at Opti has always held the line no forecast until trading data comes through. Elrico has himself to blame for SBTX ramping figures, similar to what he is doing now with the fairytale algo…He and his lemmings will never learn. The SBTX ceo should not have said anything but instead played up to the figures Elrico was putting out with direct quotes which left him no choice to put out a ridiculously unachievable forecast based on no sales data. As we know this led to the material miss statement and removal of forecasts entirely. People like you still make stupid statements like ‘unofficial data threatening his (Opti) figs’ do you not think SBTX would be putting out some news if this unofficial speculation of massive ramp ups were half true? Hardly anything ever comes out of SBTX. 2 deals in 3 years is it? SBTX CEO even said recently they are not set up for B2C which is currently the only channel for revenue. About time for some realism?

Toyin so your saying the broker gave the company a forecast even though they would not have a clue about the runnings of the business? Do you realise how ridiculous that sounds? The only party in the position to assess if any number is possible is the company itself….this is a soul destroying discussion.

Opti have used SBTX as a bit on the side which they made good gains and allowed them to invest profits back into the business to grow their range of technologies now being spun out as separate companies. SBTX is just one of these technology areas which they clearly do not see as the biggest opportunity in their locker.

Opti could have raised money through share issue but why would they not take some profit off the table? In hindsight the 55p £2m share sale of SBTX seems an excellent call. You seem to think SBTX success is guaranteed. For all any of us know SBTX could fail to deliver and the the Opti % holding would be entirely worthless.

What’s your point about my Goetz post? The RNS states they were appointed as a financial advisor/analyst not a broker. Whatever they say would have to be independent as they were not appointed Optis broker. This is entirely different to a company working with the house broker to put out a forecast such company is comfortable with.

For gods sake this is childish. The broker is just conveying what SBTX say to them. That’s how forecast are issued. For avoidance of doubt SBTX said they would hit £1.1m….the broker didn’t come up with that number, SBTX did. The broker just put it out there. It’s truly painful having to explain this.

Hi Toyin, can you read? I said company brokers issue forecasts on behalf of companies. I suggest you read back my earlier comments to save your embarrassment. Save that, contact a broker and educate yourself on how forecasts are issued to the market.

Elrico, Elrico, I take that as you not understanding how SBTX issued £6m shares of new shares which diluted Optis original 42% holding down to at least 30% without them selling a penny. Threatening the filter just shows you can not hack the detail. Saying they sold down 25% is more embarrassing as Toyins comment.

I’ll give you this for free…..when company’s issue new stock in placings the overall share capital increases, this leads to a reduction in % ownership due to a larger number of shares in issue. The fact you haven’t yet acknowledged this even 3 times of me mentioning this now truly shows you do not know what you are talking about.

Reversing the share price decline by suckering more people in from invalidated assertions justifies my entire points made here.

You keep saying ‘sold’ down so I assume you do not understand the dilution aspect of Optibiotixs holding percentage by SBTX’s 2 placings. Please confirm your understanding. Currently your just proving you do not understand how the issue of new shares dilutes the shareholding %….which is pretty embarrassing for someone that charges for subscriptions.

Ok keep up with the algorithm it will be the final straw of your insinuating nonsense.

Elrongo (again) why do you say I spin the numbers? SBTX issued £6m worth of shares in 2 placings at low prices. Opti shareholding remained the same but it’s % was diluted big time due to the issue of new shares. Opti have not sold down 25% like you incorrectly state.

Opti raised £2m at 55p Nov 21 not £3.6. They also raised £900k earlier in year (£2.9m total from SBTX). They had £2m in the bank with debtors and payables balanced out to make around £2.9m at YE.

SBTX will have more profit & sales than Opti/pbx end of year? Based on what? £20k sales and your unreliable algorithm. The ceo basically said they do not have capability for D2C as they are shaped for BtB. You live in a fantasy

Companies are not aloud to issue forecasts? What? Call up a broker right now and let them educate you of the process of how a forecast is issued. The broker issues a forecast based on what the company tells them and they agree is achievable. You think brokers come up with sales forecasts for companies even though they haven’t a clue behind the daily runnings of the company? Seriously