The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
A bit of info for anyone interested in our most exciting investment.
https://blog.fresho.com/move-your-ordering-online
If you create a limit to buy and put the price as the current sp it may be easier, may need to do it in chunks if you want to purchase a large quantity. Failing that give them a call.
Be good to have some further information on how / why this decision has been made considering our current team issued the options to themselves. A good result for all shareholders in the way of no dilution but are our current BOD (other than Rupert who has a considerable holding) going to be happy with their £30k a year? Maybe the plan is for them to purchase some shares on the open market?
Interesting RNS but more details needed. Thanks.
https://www.lse.co.uk/rns/MUST/vrfb-h-successfully-defends-litigation-4nflgren33omayi.html
We have already enacted the backstop arrangement so quite what this means for us I am unsure. 2 possible options may be; BMN and MUST may choose to allow us to rescind our request to enact the backstop and we invest in MUST or our BOD may wish to take the cash + interest and invest it elsewhere. (In my opinion BMN are unlikely to issue us with shares as it would be at a significant discount to current market value).
Hopefully or BOD and Mr Holden can find our best options going forward and inform us in due course.
PRIM currently owns just under 4.5% of Engage.
I expect an RNS today. Some large transactions have been taking place.
There's a small update for you.
SPAC ACQUISITIONS LIMITED
SPAC INVESTMENTS LIMITED
SPAC ASSETS LIMITED
Truspine should be releasing their annual report and accounts to the end of March tomorrow. An interesting read that'll be.
2 hours left if you wish to vote via email
They sold at 8-9 x price paid.
Yes that's less than the following weeks, but who knew the price would be in the 20's a few weeks later.
The BOD should have targets that can be flexible, taking profits on the up is what I'd expect.
You don't want a company that is all or nothing. One GGP RNS below expectations and the share price would have collapsed.
They are divesting from one share for long term gain. If you don't like it sell up and move on.
I have a different view and would personally like to see the share price below 3p to increase my holding.
Thanks Master.
Good outcome for all involved imo
Re-company business 23/07/2019
The date of the RNS, 'Results of AGM'
All resolutions were duly passed.
Can anyone remind me what those resolutions were?
Sorry Crypt0r but you need your calculator again. 11p a share would give prim a valuation of?
Watch this space. My trading platform has GGP closing at 27p after 2 price monitoring extensions. Interesting Monday morning
Thank you for selling Karen, it will improve liquidity in PRIM today. With multiple buys in, that should push the SP up close to 5p.
Apt name for the account, shame aren't actually selling.
Firstly, a brilliant post. Albeit not very fact filled today, but an enjoyable read.
The issue with contacting the TR1's is that you do need to have a substantial share holding to warrant their time and effort. For a lot of PI's, with say 400,000 shares, this probably doesn't meet the TR1's criteria, especially the ex investment banker. A quick conversation maybe or an email response that's half copied and pasted from another PI's enquiry, but nothing more.
It would, IMO, be a better idea to put out a Q&A document on a webpage to go through some common questions / issues. It could also include a few pages on why they wish to be elected and what their plans are.
If 50 PI's with 400,000 shares each were to vote together, this could quite easy swing the pendulum in either direction.
The current board have been complacent with their rewards in my opinion. With nobody holding them accountable, we shareholders only have ourselves to blame. The fact the BOD were willing to pay themselves £323k for 2019, £532k for 2018 and £489k for 2017 (including share based payments). In comparison to 2016 where they had a wages and salaries total of £72k! To me this shows they have no shame. To put it into perspective for you all, if the pay had been halved. With the additional capital (£672,000) invested into GGP at our purchase price, this would now be worth around £6million. That's an additional £6million to our current NAV. Now I know some of the 2019 pay wouldn't of been invested as it was yet to be paid but it does give you an idea of the scale of the missed opportunity.
Now for the share options. All 18 million of them, giving the BOD a risk free reward without having to have skin in the game (I acknowledge they own some shares). Majority of the optiona have a 6p price, so if they were able to get us to a £25mil valuation they get £4 million worth of shares for a £1 million payment.
I'm not fully against this, the board do need to have incentives to work hard for all shareholders and this is a way to do that. But the phrase "you can't have your cake and eat it" comes to mind.