Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Reason is probably there's no reason to buy Amryt shares right now. Assuming the deal closes, you can buy Amryt right now for 140p by simply buying Chiasma shares. That's a big discount.
I did. It says Chiasma needs to pay 126M max when acquired; it also has appr. 115M in cash itself. Seems Amryt will basically get the assets without the cash and with the royalty agreement paid off.
Chiasma has a substantial cash position (115M) itself, most of it in marketable securities.
The merger agreement says the following "Chiasma’s existing royalty interest financing agreement expected to be fully repaid on closing delivering a high margin unencumbered asset to Amryt’s portfolio"
Seems like most of Chiasma's cash will go towards paying off that royalty agreement. You might like that, or you might not like that, but seems like that agreement won't be paid off using Amryt's cash.
I think the rationale behind the deal is pretty easy to follow. Amryt will probably try to sell Chiasma's products through its existing sales network, and take out Chiasma's sales network best they can. 50M in synergies annually for companies of this scale is pretty significant. Amryt did a pretty good job of this when they bought the Aegerion assets and they think they can do the same trick again. In theory, it makes sense. Cheaper to have one sales network than two.
After it delists it will trade nowhere. You need to manually find a buyer, or you just hold indefinitely until there's a takeover, buyout, whatever.
Every US ticker appears on the Nasdaq-website, it has nothing to do with Nasdaq itself.
It's an OTC traded ADR with no volume whatsoever and it existed long before the RNS about the US listing. What Amryt mentioned in February is a Nasdaq listing.
To be fair, they did pre-announce they were going to do this in last month's Offer Document.
Also said they might try to arrange a consortium in the future to provide financing to Redx, so maybe that's why they want to maintain the listing, I don't know. We'll see.
Who knows. They forgot?
Btw, Redmile also could have chosen to delist REDX (they have the numbers to do so), but apparently they have no intention of doing that either.
So again, nothing will change.
The bid has now ended. Redmile owns >90% so has the legal right to compulory buy the remaining <10% at the offer price from the remaining shareholders. Almost always the buyer excercises that right, but for whatever reason this time Redmile won't, at least not now. I'm sure they have their reasons, and I can think of one or two, but I'm no insider.
So, REDX remains listed if the AIM lets them (if not, the listing will move to another platform), and nothing changes, except the shares just got a whole lot more illiquid.
Nothing.
Why does it matter if they reached 90% (which they did)?
They already said they weren't going to exercise their right to a squeeze-out and maintain the listing.
Fred, well worded and I respect your emotions and of many of you here.
I do have a problem with a few users distorting reality over and over again, villifying anyone or anything that doesn't appear to be on their side and insulting people left and right. For that frankly I think emotions are a poor excuse.
i find it odd how "emotion" seems to used as an excuse over here to blame everybody for everything but yourself and insult others.
countless schemes have been approved using the same voting procedure. there's endless precedent of doing things this way, even though the shortcomings are obvious to all. and now suddenly you want to start challenging? based on what? that you didn't like the outcome? and you expect a judge to now suddenly act? there's no ground for it.
the judge will sign off on this in five seconds.
i agree the headcount rule implementation needs to be rewritten, but the judge isn't the one to go to here.
either you made up a rumour or your mate did and you are very gullible.
an "American co" and the "government" wouldn't walk away from the deal, only because a CEO refuses to "cough up" his tiny interest. We're talking 100's of millions of investment here and CF owns what? besides, what kind of ******ed deal would that be in the first place? It's such an utterly weird rumour, if you start making things up, at least put some effort into it.
you have plenty of actual **** on fraser without having to resort to this.
wow.
let me summarize this: a very select few of you blame your own bad decision making on capitalism and its financial markets in general. and then, even better, you name china as a better example? sure, china has definitely lifted many out of poverty (especially, ironically, because it has become more capitalist than communist these days), but its financial markets are a hell of a lot more crooked and corrupt than ours. half the companies on their stock markets are outright scams.
No offence, but a few of you seem so hung up about wanting to be the victim, it's painful to read.
yeah. on the other hand, i also didn't mention the potential downside that the world might come to an end between now and the deal closing, i also didn't mention that. honestly, i believe both have about the same chance of happening.
why not?
that's a 0,36% return for holding about a month, riskfree. if you're exempt from stamp tax, in times of ultralow interest rates, not that bad really. about 4% annualized. obviously not for me or you, but for a financial institution with too much cash lying around (like most of them) i get it.
last estimate was late this month