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@safy could be to do with interplay between share price on AIM and ADR price on Nasdaq. Google currently showing TSLA 3.72 USD (ADR price) which equates to 61GBX per share when AIM price for TILS is 65GBX. So maybe when markets open in the US the price of the ADRs influences the share price here? Only guessing but this is the only dual listed NASDAQ/AIM share I have anything to do with and its the only one that moves like this. Not an issue if your a LTH though.
AJB stopped taking subscriptions for the Placing Shares at 5pm on Thursday. Still available through other brokers but today is the last day. It is heavily oversubscribed so will be subject to 'scale back'. Told once they have confirmed the amount of the scale back they will return surplus funds to subscribers. AJB couldn't confirm exactly when that would be but said probably by end of this week.
you mean this Randox ...
https://m.belfasttelegraph.co.uk/news/health/coronavirus/50000-tests-sent-to-us-after-mechanical-problems-at-northern-ireland-firm-randox-39195144.html
congrats to everyone who held their nerve through April (not me!). Not without risk but maybe turned a corner. Very pleased as this is a well run company, more badly affected by most by the Woodford factor. Back in at 1p and planning to staying for a while. GLA
...no doubt Woodford made some BIG mistakes and I feel sorry for his retired investors who assumed their money would be 'safe' but that said he may have been right to look for opportunities in small caps. He has been right in the past. Being v generous, maybe he just went about it the wrong way. Poor comms, bad timing, err...etc
Seems to me CV-19 has helped potlight small biotechs
UK is cheap compared to the US and are UK techs are leading the way partly fueled by investment in uni research over recent years.
No idea about macro economics but loose money might he here to stay for a while and it has to end up somewhere (?)
So maybe RENE's day is finally dawning.
Ultimately however, to me its all about the benefits. I bought these shares after family members suffered massive debilitating strokes. It was in recognition of the work but there is much more potential to this technology than I had ever realised. Treatments for RP and Huntingtons couldn't be more worthy. CTX also links into iRNA and cell therapy. Potentially massive. I'm not ramping and I don't care about short term movements. Will just keeping holding and watching the progress.
GLA
...or at 1GBP = 1.22USD it is 59pence per share equivalent. Near enough.
@JAdam yep thanks, 5:1 is what the math tells me too. In fairness I got the 10:1 ratio from Tiziana's own web site. Should have checked the sums. So if ADRs currently trading at USD3.62 /1.25 = GBP2.90 /5 = 58 pence. Maybe they will go up today then :D
@Bouunce
I'm no expert but @davey kind of answered this for me (check his old posts). This is my take....
Tiziana is registered in London and its ordinary shares are traded on AIM. These are treated as 'foreign' shares in USA and traded on NASDAQ as American Depository Receipts (ADRs) through J P Morgan who act as depository bank. A single ADR is worth 10 ordinary shares. This ratio is fixed but there can be price divergence because the ADR and ordinary shares are being traded on separate markets at different hours. You can see this if you compare graphs for each but ultimately they follow a very similar trajectory. There are also be differences in the spread and the day trading prices are affected by the market makers.
It seems Tiziana had plans to re-domicile to Bermuda before Covid but this may not now happen soon (or will not happen at all depending on your view). If it does happen, as a shareholder you will continue to own a chunk of the same company. The value of your shares would not change on account of the move. I guess your shares may be converted to ADRs to enable trading on NASDAQ (Bermuda is an oversees territory of UK so I think they would still be foreign shares as far as NASDAQ is concerned).
The thing that puzzles me about the dual listing is the divergence between NASDAQ prices and AIM prices. You would think the prices and spreads would be very similar but yesterday the prices on NASDAQ went up very much more in % terms than AIM. Presumably (hopefully) the prices even out in the longer term but theoretically you could trade on the difference between the two markets ('arbitrage').
Sorry that post was so long. All just my understanding so may not be right!
Cb
From Corporate press releas yesterday,
"...genedrive plc (AIM: GDR), the near patient molecular diagnostics company, is pleased to announce the successful completion of the placing announced earlier today (the "Placing").
A total of 8,750,000 new ordinary shares of 1.5 pence each in the capital of the Company (the "Placing Shares") have been conditionally placed by Peel Hunt LLP ("Peel Hunt") and finnCap Ltd ("finnCap") (together, the "Joint Bookrunners") with new and existing investors at a price of 80 pence per Placing Share (the "Placing Price") raising gross proceeds of £7.0 million for the Company. The Placing Shares will represent approximately 20 per cent. of the enlarged share capital of the Company assuming full take-up of the Broker Option ("Enlarged Share Capital").
The Placing Price equates to a 60 per cent. discount to the mid-market closing price of an Ordinary Share on 4 May 2020, the last practicable date prior to the date of the Announcement, and a 1.8 per cent. discount to the 20 day volume weighted average price ending on 4 May 2020.
The Broker Option of up to 1,250,000 new Ordinary Shares, which would raise £1 million if taken up in full, will be open until 5.00 p.m. on 11 May 2020.
To subscribe for Broker Option Shares, investors should communicate their bid to Peel Hunt or finnCap via their stockbroker as neither Peel Hunt nor finnCap can take direct orders from individual private investors. Investors who wish to register their interest in participating in the Broker Option Shares should instruct their stockbroker to call Peel Hunt on +44 (0)20 7418 8900 or finnCap on +44 (0)20 7220 0500. Each bid should state the number of Broker Option Shares the investor wishes to subscribe for at the Placing Price."
@davey, thanks for the explanation ...all good!
can anyone explain what happens when a dual listed share is de-listed on one exchange...for example if TILS prefers to stay NASDAQ but leave the good people of AIM (a future possibility it seems). Obvs the shares still exist but what are the practical consequences for investors?
I hope someone can answer your question Cowee but most posters on this site seem to prefer speculating on biotechs or oil explorers or mining juniors...Babcock is probably considered too boring...and reliable...and well managed perhaps :-). There don't seem to be many opportunities to buy on dips. Maybe this is one. DYOR