The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
From their website
As noted in the Company’s interim results, announced on 26 September 2022, repayments of capital on
a loan balance of US$16.4 million provided by NewGen Resource Lending Inc (“NewGen”), the Company’s
principal secured creditor, are due to commence on 31 October 2022. The Company has been in active
discussions with NewGen to defer or reschedule the repayment of its loan, which is intended to form part
of a wider restructuring of the Company’s finances. However, an agreement has not yet been reached to
defer or reschedule such capital repayments.
Accordingly, the Company’s ordinary shares will be suspended from trading at 7.30a.m today, pending
clarification of the Company’s financial position
No idea and silence from this board worries me hugely
You are not alone in your actions this morning. There are a lot of people buying this morning and for the 6th time since last April, I have done the same. GLA
Bought my first chunk @ 0.25 and more on the way up. Never thought I would get another chance near that price but happy with the dip last week to grab some more.
Thanks Bob. I should really pay more attention!
So it seems to have reappeared this morning on LSE. Most of last week it had been absent and the value showed up on my portfolio but again this morning, it is showing as a full loss. Is this an indication that reinstatement will not happen in the very near future?
I have to agree with JAdam. I have been holding since April and have traded a section of my holdings to increase share number and reduce average. Seldom feeling any FOMO as I have always remained significantly invested. I learnt the hard way with SXX that holding without question in the hope of gold does not always work
I have to say I agree Justahobby. Not great reading but the upside to a top-up at this price was too tempting. Good news/bad news, it seems to sit happily at 2.5. I am happier there is reduced production than no production at all!
I think a bit harsh on Kevin given he said 'Let's keep calm everyone and realistic!bit ain't going to be £5 of £10 by Easter !' which I took to be a typo on 'bit' for 'but'.
There were two hours this morning you could have got back in under 80p. Maybe this is not the share for you Punit
The total votes cast represented 39.6% of the Company's total voting rights.
None of the resolutions were therefore carried.
On 18 December, the Company announced the issue of warrants over 420 million new ordinary shares (the "Warrants"), conditional upon shareholder approval at a general meeting. With resolutions 1 and 2 not having been passed, the Warrants will not be issued.
Resolutions 3 and 4 related to the Company's ability to issue shares. With these resolutions also not having been passed, the Company's existing authorities, which were passed at last year's annual general meeting, remain in existence. Under these authorities, the Company has the power to issue up to 172 million shares. There are no plans at the current time to use these authorities to raise further capital. However, the Company is reviewing the remuneration packages of employees across its subsidiaries, which will include the issue of a small number of options to those staff.
Antony Legge, Chairman of RMS, said: "The Board has taken note of the depth of feeling amongst the Company's shareholders and hopes that with the defeat of these resolutions a line can be drawn under the past. The Board is committed to improving shareholder communication, not least with the recent appointment of a specialist investor relations advisor and a new dedicated email address (rms@investor-focus.co.uk) for shareholders to ask questions."
Modest position here but even my votes against count.
Oh Punit. You really need to diversify your portfolio
I've been here since the IPO and happier to see it float back up hand in hand with ODX. Seems to bode well for the coming days/weeks
Could not agree more. Patience is the key here
Personally, I would miss his posts if he sold up. They lighten the mood and make all of us look smart!
Completely agree Harley. I have been here almost as long and maintain the same faith in my research that made me buy in the first place.
Burnt by SXX as well and missed GGP but waiting on EUA as well. Good luck here!
Marshall Wace LLP is shorting
Actually, well behaved here considering the prolific posting on the 4D BB