Member Info for mathsprof

seems to be ready to contain the scheme. Mind you there's a long disclaimer now before you can look at it.

Does anyone if there's a time limit for publishing the scheme. I'm a bit surprised it's not out yet. Perhaps they're still building a book for the placing.

or the money!

sorry robin - its a delayed sell from 0821

But they're wrong. The market doesn't understand the offer, that a US placing will come in IMHO at over equiv 9p a share - and probably fairly soon. Next RNS will be here even sooner, which may (or may not?) settle folks nerves.

a few buys has stopped the slide - 5.11/5.435p now quoted.

now 5.325p help!!!

and still dropping

correction - offer now 5.79p

today in early trading shows that market doesn't have a clue about the recommended offer. The bid has dropped below the theoretical 5.95p - crazy - time to top up.

The advantages for us is that it gives a US listing on the cheap - mainly the dilution factor of the 2.61% new shares. I'm not sure who's paying the Oxbridge money - it presumably happens before the takeover.

I believe the assets of GSL are a six figure sum less than the liabilities, hence the need to pay Oxbridge to take everything, and to "acquire" their shares. Only then are the decks clear for XEN to occupy the shell. The 100m shares are withdrawn, the remaining 35m are consolidated to 3.5m and are the extra new shares which will dilute XEN by 2.61%. (3.5 x 18.59p = £650k = 2.61% of enlarged capital)

I doubt it very much. The announcement is pretty much what I was expecting, and there's no need for an incentive. We're going to get US shares instead of AIM ones. The key will be what price the eventual placing will come at.

18.59p (=5.95x175/56)

each new GSL share, (when consolidated) is worth 18.53p But at present they're worth nothing until the deal goes through and they pick up value from XEN.

Found the relevant bit: Shareholders' attention is drawn to the application that has been made by Xenetic to the London Stock Exchange to cancel the admission to trading on AIM of its Shares, such cancellation being conditional upon the Scheme becoming Effective. This Announcement provides Shareholders with notice of the intended cancellation, the expected date of which will be set out in the Scheme Document and notified to Shareholders in accordance with AIM Rule 41 at the same time as the Scheme Document is posted to them. Cancellation will not take place until at least 20 Business Days thereafter. We now await the arrival of the scheme document.

A timetable will have to be set for voting etc. Meanwhile, I expect that trading will continue until the scheme becomes operative.

yes you are - but its only the value used to determine the worth of the new GSL shares not issued to XEN holders - ie the cost of the deal for XEN.

time to read the RNS folks.

What is it that the RNS is actually saying? I thought it was Singer supplying shares for the last two buys recorded on Monday pm.