RE: rns4 May 2018 23:04
Nomlungu,
That is total authority they need in place for the future, NOT something they need to issue tomorrow. Placing was needed to advance GeneICE / Val 101 and VAL301. No surprise there. My issue was only they could have raised them at a higher price. 47.5m is only about 11% dilution. Hence the drop first and quick bounce. I am little annoyed that I missed the drop as had a very busy afternoon.
Placing is still far far better than doing kind of YA, Darwin, Bergen type of finance deals which seem to have an overhang forever and Price never recovers. BOD also need to be made aware of 'Primary Bid' Platform. These scientists are too busy in finding cure for cancer, that they miss a trick on better funding options & seem to just rely on their brokers advice by the looks of it.
Will not be surprised if majority if not all of today's 47.5m shares already Forward Sold.
I am positive about VAL future as all the compounds would appeal to any BIG Pharma as one stop shop giving them a competitive edge over rivals. You on the other hand can de-ramp as much as you want, makes no difference. Market decides potential future value. All latest info including granting of US and European patents is out in public domain for everyone to see including Big Pharma.