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I noticed the spread this afternoon when we were doing OK was about 2.6 and then lifted to 5 near the close, MMs trying to keep the brakes on.?
Sea of blue going into close and what do the MM do, open up the spread.
They are trying all sorts to keep this down, the barstewards.
Ben just to add to the comments about the Sierra takeover, the majority shareholders were institutions so once they had consulted with the majority of the shareholders and had agreement to proceed with the value offered then they had a mandate to accept the offer without the need to consult with all shareholders.
This action has miffed a number of PI's who I believe are mounting a legal challenge as they think that they have accepted a low offer and were not consulted.
SAR on the other hand are mostly owned by PI's so any official offer would have to go to a vote of ALL shareholders.
I thought that if a company makes an approach for takeover if the BOD consider the offer low they can bat it away without consulting the shareholders. If the offer is reasonable but they still think it is not enough then they must inform the shareholders but put it to a vote and recommend the shareholders reject the offer and explain their reasons for their valuation.
If the offer is generous then the BOD can recommend the shareholders accept the offer.
If the offer has been accepted I can only think that the BOD have consulted with the majority shareholders who I believe are institutions and they have accepted the offer without the need for a vote of All of the shareholders.
Thoughts anyone?
The sells seem to be getting soaked up, possibly large order being filled?
Look at how Scancell have kicked off with the news of going in to trial, hopefully not long for our turn.
With the world wide patents and the limited amount of similar drugs available I can not imagine any big pharma sitting back waiting for the results of a phase 1 trial, I would imagine they have been scruitinising the results of the toxicology report and negotiating a price for partnering a joint trial.
Here's hoping.
After consolidation if the long term holders stick to their guns, then the volumes we have seen traded over the last few months divided by 50 are going to be minimal, which should stabilise the price considerably. All this talk of slipping down can only occur if people sell, if they are not selling now why would they want to after consolidation?
We are also 1 month away from next year's ISA allowance so anyone holding cash may be tempted to stock up before any institutional investors come on board.
Ps if womble baiting was an Olympic winter sport a few on here would have had gold medals this week.
What is the last date they are allowed to release news prior to consolidation?
Having looked at all the different views being expressed as to what is going on and the various rns releases and previous posts on twitter by members of our BOD the silence of our BOD is deafening.
I personnaly think that there will be a positive rns days before the deadline prior to egm, the BOD must ensure their plan of consolidation is achieved with the least resistance from those against (any high percentage of no votes will undermine the confidence in the BOD and could later manifest into a vote of no confidence in the chairman) if they ignore the feelings of the shareholders then que sera sera.
My thoughts are positive tox results and proposals for next stage of testing (hopefully with a large pharma in partnership) early next week to lift shareprice and get a positive buzz a week before EGM.
Here's hoping.
Managed a 30k top up but had to split into 3.
Looks like someone trying to keep the brakes on 9.5% spread
I believe when Siera re negotiated the deal our Chairman stated that he was pleased with the outcome and used the words "IN A TIMELY MANNER" when speaking about the timescale.
We need clarification as to what this timescale means legally before putting a banger up the ar$e of the company who agreed to the re negotiated contract.
Probably me buying 2 lots of 10k as I could not get 20k in one trade.
Look at the shares traded and the large unknown trades, this is being held back while everyone is focused on the AGM.
Toxicology report due before year end so hopefully still on target with no delays still time for an RNS to drop and give us a cracking Xmas present.
2018
RNS 30th Nov
AGM 18th Dec
2019
RNS 5th Nov
AGM 17th Dec
2020
14th Dec RNS
15th Dec AGM
2021
RNS next week
AGM 16th Dec
A good finish to the year and the Milky Bars will be on me. (or wotsits)
If no RNS before AGM the BOD may have problems with shareholders voting against some of their items on the agenda, if they want to calm the waters and give everyone a lift then they will release a RNS next week.
My gut feel is news before meeting and shareholders will be in party mood.
Don't knock bojo, he might have asked if we can try our tox issues on peppa pig and his family when he saw them.
With an 8% spread definitely trying to keep the brakes on it
I think one has managed to climb over it