The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Patientinvestor8,
Conversely, if Porky is right and there is a placing, and they don't get the money will you leave the BB as you have asked him to?
A lot is being said about the merger but the elephant in the room I suspect for lots of us, is this part of the LOI
'The completion of the merger is subject to various conditions, including the negotiation of a definitive agreement, regulatory approvals, and the satisfaction of customary closing conditions. There can be no assurance that the merger will be completed or that the proposed terms set forth in the letter of intent will remain unchanged.'
As an earlier poster said, it would restore confidence to LTH if any known facts were posted instead of hints and speculation.
You ask if anybody listens to Porky? Well it's hard to hear him above the noise from the other two!
Just for a bit of fun, number of posts on the Val BB over the last thirty days ( from the LSE stats).
Porky 8 = 92 posts
PM- = 130 posts
PI8 = 160 posts
And if as some suggest, that PM/PI8 are the same person, that amounts to 290 versus 92!
Sorry if I missed you off the total Iceman!
Just saying!
Paternostpauper, No problem, I get what you were doing and why, it was interesting to hear what she had to say. My point was that it was a typical legal answer saying very little other than the process Val would have to follow for a placing.
As a long term holder I certainly hope for news rather than any GM announcement.
Paternoster, i think the only bit of your question answered was to
...'the potential of a low-ball placing being dropped on us unexpectedly'
she told you why she could not do it without a GM so certainly would not be unexpected, as 21 days notice needed.
Out of interest if they did ask for shareholder approval for a placing, do you think that it would be refused by shareholders,and the company then potentially going into liquidation?
Not being negative just looking at the various options and views .
EGM, was that not how we got in this mess in the first place? 8 signatures and in my opinion at least one of them making a great deal of cash out of it.
Nobody disputes that GM had to go,but it was the clamour to get that great new person Suzy Dilly in place, without any due diligence to check if she was the best fit for the company.
Now people are recognising that she is a great scientist but not enough business experience to get the deal over the line.
For me, she now knows the company, but desperately needs to get someone in the team that can do the deals while she takes the science forward.
I would find it hard to change again, as we would always be rebuilding and that always costs money over the long Term.
Not going to go over the figures yet again, but even if he had voted against with his 8 mill odd, most of the BOD would have still been safe. We need to accept that the majority of shareholders supported most of the the Board by a very strong margin.
Sambar, nicely put about the votes, they all had massive support the only one even close to falling was Mr Dessler but even he had 15 mil for and 12 mill against. Suzy was approx 25 mill for and 3 mill against which is hardly a vote of no confidence or an ousting.
Based on what I heard I might even buy the ones Metom sells!
Patient 8,
You said 'Suzy's tenure as CEO has been marked by the complete ousting of her entire team' did I miss that event or was it just an opinion ?
Anyway, I don't suppose Suzy cares much about negative BB opinion now she has the support of the majority of shareholders, including the largest, the board confirmed and the strategy going forward, all agreed.
Personally, I think it might be a bit tricky for a time, with a dropping SP, but longer term, and with the new lab business model I think it will be a steady,stable future for those of us willing to stick with it.
Alwayswatching,
Good post and totally agree, lets hope that those shareholders now move on, particularly now that the majority voice has spoken on the way forward. Unfortunately, I am not confident they will as they do like their BB voice .