Member Info for PrivateRyan

it is true normally but his case is an exception as its a one trick pony

This is in the AIM rules.Does it apply if we sell TORAL- ie is there anything else in EUZ?If not then shareholder consent needed

Fundamental changes of business
15. Any disposal by an AIM company which, when aggregated with any other disposal(s) over
the previous twelve months, exceeds 75% in any of the class tests, is deemed to be a
disposal resulting in a fundamental change of business and must be:
— conditional on the consent of its shareholders being given in general meeting;
— notified without delay disclosing the information specified by Schedule Four and
insofar as it is with a related party, the additional information required by rule 13;
and
— accompanied by the publication of a circular containing details of the disposal and
any proposed change in business together with the information specified above and
convening the general meeting.
Divestment or Cessation
— Where the effect of a disposal is to divest the AIM company of all, or substantially
all, of its trading business, activities or assets; and/or
— Where an AIM company takes any other action, the effect of which is that it will
cease to own, control or conduct all, or substantially all, of its existing trading
business, activities or assets (in which case such action should be notified without
delay and include all relevant information that shareholders may require)
upon completion of the disposal or action, the AIM company will be regarded as an AIM
Rule 15 cash shell.
https://www.londonstockexchange.com/companies-and-advisors/aim/advisers/rules/aim-rules-for-companies-updated-july2019.pdf

Jimzi. It’s a total speculation. I believe iclaprim is worth far more than we originally paid.6m dollars And have gambled accordingly But I can afford to lose the stake. It’s a one off set of circs. I certainly wouldn’t advise anyone to bet on this. It’s an unknown. But I am in big time! Cheers

Why?

That’s the question ! If we get 20m then the loan will be repaid and we will be worth 2p a share.

If a bank has a mortgage over your house and you default it can take the asset over which it has a charge and then sell it But they can only use the proceeds to pay back their loan. The balance belongs to the owner.

Do they own it ? They have a charge over it Not the same thing old chap. Slight problem with your analysis.

As then superseded. By independent experts! A poor post and yet six people recommend it. Shows how pointless these bulletin boards are. Fantasists The prospects are good but why overegg the pudding Filtered

he isnt departing

Latino it is the bit where they say DESPITE a a comprehensive marketing effort there is no transaction pending. Sounds very negative. It is relatively early days though. They should have explained that They then added no guarantee blah blah to cover themselves. All gave the impression it was a hopeless case.

Hi aim..... thanks for confirming my take on graham.
We differ on valuation obviously!
But to clarify one point I think the i p is pledged as security but I think that means the I P can be sold to pay off the loan if necessary but any excess over the loan liability is due to motif bio inc It isn’t given away completely ?

I agree oversold today . But the wording of the rns was almost designed to produce that impact. Poor.
As I posted earlier I think g l has resigned from the us sub as director but he is also ceo of the main company ? I think rumours of his demise are exaggerated ?
In my view IF any company wants to take this on they will be prepared to pay somewhere in the millions giving a 2 or 3 p value for the shares. The gamble is IF
I agree that there is no new news as they are still marketing the asset And if anything Hercules position seems improved. I am still struggling to understand if Hercules are still due repayment of their loan to m b inc ? If they have waived that then that would add more value say 1p. The docs are poor at explaining this.

Are you sure graham has gone? I read it he has resigned from m b inc not the main holding company?
Not great news otherwise but who knows ....

pps Have you seen the amounts flying around in the new IMM partnership- and IMM retain the rights?And they failed their Phase 3 trial .....

ps
and thats how you get a market-people disagreeing over values....

Aimof the game -that was the situation for the previous owner and the ip/stock was valued at 6m dollars.And we passed the phase 3 tests ,the previous company didnt .And there is a wealth of evidence now ,with FDA collaborating (again!) to design the next trial(only one).I think it is worth more than current value- and note we are selling the asset ,not the company-that will become a cash shell.
I take your point about us being in a corner- that is why it is a gamble .But i genuinely think there is a chance we will get much more than the 6m dollars implied by the current share value

2p-it wasnt a prediction or a desire- was trying to put the current 0.2 p into perspective

"Motif is in the unusual position of being able to access a huge amount of data
accumulated in the earlier clinical development of iclaprim and this has defined the design and administration of the
additional trials required by the regulators. "
"Motif BioSciences Inc., as the result of the merger agreement with Nuprim Inc., acquired the exclusive rights to Nuprim’s
iclaprim assets and the rights to acquire 600 kilograms of iclaprim API over a period ending 31 December 2017.
So we paid 6m dollars roughly to acquire the rights and 600,000 kgs at the outset. "
How much more data have we got now,at what investment ! And we are one step from getting fda approval for TWO applications.
So in my view we do have a valuable asset- the question is what value ,and bearing in mind the outstanding hercules loan but also the recent reversal of the liability to advisers-net liability 4.7m dollars
At the moment we are valued at around 1,2m pounds net or 1,6m dollars . So essentially the market is valuing the iclaprim asset as the same as when we acquired it(6.3m) ,nothwithstanding the enormous amount of work carried on since.
If we get a further 12m pounds worth ie 16m dollars that would equate to around 2 p a share .
I think the share is undervalued .
I also think GL has tried to look after shareholders by crystallising the asset VALUE NOW for the current shareholding - much better than raising hugely dilutive equity with rewards much further down the track .(and he probably couldnt have got a raise away -it would have left us a small minority after a placing )I think he knows there is real value now ,as witness the statements about commercial interest ,and all the plans re the cash shell . So I am more optimistic than the doomsters .....and have further added !
BUT it is a gamble..............

less tax and overhead costs !!

Same old same old Tony p. Lots of opportunities but cap xx can’t take them... Groundhog Day