Member Info for LordSnooty

You seem confused, some reading might help you understand what it is hoped will happen with XEN before the end of this year. I suggest you start with this RNS: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=XEN&ArticleCode=5ytzt0ha&ArticleHeadline=Rule_24_Announcement, which explains the situation in detail. In particular pay attention to the third paragraph of "Background" in the RNS: "Xenetic's plan is for it to be acquired on a share-for-share basis by a US Counterparty, where the level of effective dilution to Xenetic's shareholders is modest and agreed in advance. This means that, other than for an acceptable level of dilution (which is deemed to be the "cost" of achieving Xenetic's aims) and the fees and costs of the Possible Offer, the entity formed by the completion of the Possible Offer will be as near as possible the same entity as Xenetic, with the same assets and liabilities, save that it would have a new US holding company."

Oz start soon, but also a busy H2 at XEN, if I read the Predictor correctly. Plenty of news to chew on.

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to see so many little people visiting the thread. There has been need of new blood here for some time; that fellow Leeson has been ruling the roost for too long on the chuckles front. Welcome all, I say, as we move forward under the magnanimous stewardship of Snooty!

news imminent, trust the Snoot.

is flashing puce. One predicts an RNS is imminent.

The reign in Spain had to be rained in when it reined.

is that Jimmy often gives blood at the Red Cross. Other people's.

with golfism and sexism, Leeson has added peanutism.

is another excellent joke: https://s5.newzapp.co.uk/t/gtp_pg.aspx?LID=OSwzNzE1MTkyMzQsMw== There are only two small problems: 1. The existing plant keeps crushing the large diamonds of any value, contrary to the historical assertions of the so-called, ahem, "all there is to know about diamonds" expert (see posts 26th April, this thread). 2. Said plant will likely be shut down "before the end of the calendar year...". (see latest RNS).

I sympathise, but the writing has been on the wall here for many many months now. The numbers that I reproduced below are, if anything, extremely generous. The more probable share price at which they will raise capital, in the unlikely event that anyone is interested in throwing money away, will be nearer 2p than 5p. In which case, realistically speaking, existing shareholders can kiss goodbye to any remaining value. However, as I have repeatedly said, I believe the company will be taken private as the only viable option, since the chances are they will fail to find sufficient backing in the market.

by "warnadol": The company state - "As announced on 25 October 2012, the definitive feasibility study for the Expansion Project estimates the initial capital expenditure to be approximately US$167 million (assuming an exchange rate of ZAR 8.92: US$1)" But now "Whilst it is anticipated that the capital expenditure of the Group will be US$167 million, the Directors believe that this may reduce to approximately US$142 million due to the recent depreciation of the South African Rand" Today the exchange rate is US$1 = ZAR9.91 The new today states that "A further substantial equity fund raise will be required to fund the Expansion Project but the Company is pursuing a number of additional funding alternatives to try and minimise the equity dilution for Shareholders. In particular, to coincide with the proposed subsequent fundraising, the Company has commenced project finance discussions, which if successful, could provide an estimated US$65-85 million, with financing in place by the fourth quarter of 2013". Also they have secured "a smaller US$6 million forward sale agreement in relation to the Company's smaller diamonds and it is estimated that a further US$20-30 million could be received as a pre-payment for the future delivery of smaller diamonds". Lets take to above HIGHER END FIGURES and use them to offset the revised CapEx of $142m - $142m - $85m - $6m - $30m = $21m outstanding CapEx Also lets take to above LOWER END FIGURES and use them to offset the revised CapEx of $142m - $142m - $65m - $6m - $20m = $51m outstanding CapEx Now lets average the two outstanding CapEx figures to add balance - $51m outstanding CapEx + $21m outstanding CapEx / 2 = $36m outstanding CapEx. Lets assume the average future funding requirements are met and the market generously view this as a positive and the SP leaps massively to 5p. The $36m outstanding CapEx required will need raise via dilution. Therefore $36m = £23.9m / 5p = an additional 478m shares. Sorry guys but, my opinion is that, given the fact that the pilot plant which continues to break stones will shut down "before the end of the calendar year" which will result in the company standing idle for a long period of time. Also very concerning is the fact that cash burn seems to be very excessive despite sales. Cash at 31 December 2012 was £4.2m but now with the recent proposed placing of ($6m) $5.7 million (£3.77 million) (net of expenses) the Company will have cash resources of approximately $7.7m million (£5.09 million). Even now despite the ever problematic pilot plant closing "before the end of the calendar year" they are prepared to waste an additional 27% ($2.1m) of their entire funds of $7.7m. Unreal and a perfect example of how to destroy shareholder value.

you need to read the RNS carefully. If you still don't understand then ask a broker. Nobody is being "bought out".

You can rest assured, a completely different species - I can speak from personal experience.

And Maguire highlighted all three of its technological platforms - PolyXen, ImuXen, OncoHist - have products in at least phase 2 clinical trials. Currently, its main focus is ErepoXen - the firm's most advanced product and likely to be the key share driver. Ironically, perhaps, this drug is one that does not fit into the firm's orphan strategy, in that it is a big, mass-market candidate. Maguire says the plan is to complete a dose finding study for western markets in December this year before striking a deal. "The goal of ErepoXen is to out-license as soon as allowable and there is already some interest in this product," he adds. "This is a big market drug, very expensive clinical trials, so we are going to be seeking a partner to out-license this as soon as we have data coming out of Australia/New Zealand. He said these locations were chosen because it is cost effective to run big market drug trials there, and the structure of the trials reflects the Food & Drug Administration (FDA) format so it's an easy transition into the US or Europe markets after phase 2 trials. Importantly, however, in Russia, where the drug is currently in trials, there is a chance to see revenues from ErepoXen sooner. In Russia, Xenetic hopes to see a commercial launch of the drug in the second half of next year and it will be receiving a 10% royalty on its sales in Russia. Another candidate the firm is excited about, and which will be added to its portfolio for the western markets, is OncoHist for acute myeloid leukaemia. Maguire told a conference call last month that he was "particularly" excited about this drug, which he said had "multi-billion dollar" potential. OnCoHist binds itself to leukaemia cells and leaves healthy cells alone, so there are no serious side effects. Maguire said a world-leading specialist described it as being the first novel mode of action for the disease he had seen in 20 years. The firm continues to test the efficacy of this drug and crucial phase 2 data is expected this summer. Part of the plans to expand into western markets is the move this September of staff to lab and development operations to Boston, USA - the world's leading centre for orphan drug development. Xenetic has also just announced it will look for a merger with an SEC reporting, unlisted US company, a move that will enable it get a quote on a major US stock market within a reasonable period. It wants to agree a deal in 2013, a move that will also see it de-list from AIM. Maguire said the long term benefits of being a US-centric organisation will become apparent as US markets give "significantly" greater value to firms like Xenetic with its broad proprietary drug pipeline. http://www.proactiveinvestors.co.uk/companies/news/59101/xenetic-biosciences-battleship-about-to-leave-dock-says-ceo-59101.html#

about to leave dock, says CEO: Xenetic Biosciences (LON:XEN) is finally embarking on the process of "serious value" growth, according to its chief executive. This week Xenetic announced it is searching for a suitable candidate to reverse into to get a US listing, while the company’s own development programmes for potential blockbuster drugs for western markets also starts soon. Chief executive Scott Maguire recently colourfully compared this process as being like a "battleship leaving the dock". He's referring to the first western clinical trial of ErepoXen for treating chronic anaemia, which is starting in Australia at the end of this month or next - one of several drugs in the firm's portfolio and a candidate that the firm wholly controls. Maguire explains that previously Xenetic has been purely research-based, relying on out-licensing partnerships and collaborations with groups in India and Russia. But, following a fundraising last year, the company has now begun the process of evolving into a drug developer, able to test and commercialise its own products. Maguire is so excited about this transition because, not only does if offer potentially large rewards for shareholders, but also because the firm's portfolio itself is highly promising. Xenetic specialises in developing orphan drugs for rare diseases, which have multi-billion dollar potential. Orphan drugs are fast-tracked to the market because they typically address diseases and conditions for which there are few, if any, medications. Now, following the firm's undeniable progress thus far, what is needed, is delivering on plans and, of course, securing financing, reckons Maguire. "As I see it, as management, the science is working and it's going to come down to a function of execution and money to deliver on the promise, because it's clear that these products we have in development have blockbuster potential and those are not my words, those are words from the investment and strategic community," he said.

of the story so far: It was in that harsh winter of 2010/11 that “Molecules” Maguire had made his clandestine visit to the Bavarian Alps. His mission, decided by his co-directors, to get his hands on OncoHist, the novel cancer treatment, and pass it to the Ruskies. He had inveigled his way into the German labs perched high on the Unterobergurgle Ridge, scooped up the phial and concealed it about his person. Making his escape on his patent American langlauf skis, he had been chased and shot at by his pursuers. Later, back at London HQ, he had passed the precious formula to his Russian assistant, Voskoboynikova, for onward passage to Moscow. The promised Open Offer she had made him had never materialised, however. Now read on....

and XEN neophytes! It looks like we are in for some fireworks over the next few months, as Mr M and his crack team of newly-hired guns troubleshoot the path clear on multiple fronts. Hang onto your private pieces, the ride will be no doubt bumpy, with Snooty leading from the rear, as always!

that cutlass....?

the short answer is institutions; PIs will be diluted to oblivion over the next couple of years before the company is taken private tfor peanuts.