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Good luck Freddy.

Good luck Freddy, don’t let. Them get away with no explanations !

Stumbler, cairn is a connected party. I would listen to anyone except them !

Heidhoncho, great post and spot on and indeed that is why there is always a third option when voting which is ‘Abstain’. Which Has the effect of making each vote more proportional to the total shares in issue.

It’s sure going to be an interesting day tomorrow and wouldn’t be surprised if the EGM is cancelled in the morning, but they may wait to see who turns up ?

And the shares are down 99% down since then

Just found this from the same pundits.

ValiRx – EGM today as turkeys are given a second chance to vote for Christmas

2016-07-12 01:47:04

AIM-listed cancer-buster ValiRx (VAL) has its EGM today at 11.30am at the offices of DAC Beachcroft LLP, 100 Fetter Lane, London EC4AS 1BN. After shareholders voted to reject a resolution to disapply pre-emption rights at the AGM a couple of weeks back, the company has called a new gathering at which shareholders are being asked to vote on it again with management hoping that this time the shareholders get the answer right. Heck, it works for the EU, so why not here? ?Update - motion passed, shares down.

I may be wrong Freddy, but didn’t he say that BEFORE the last consolidation ?

They might come to the party if forced but we know it won’t be a 60pParty !

Nomlugu, your last quote basically states that before the EGM they will issue a maximum of 124 extra shares to make sure the total number of shares in issue is divisible by 125 which ‘If ‘ there is a yes vote would therefore enable the company to enact its proposed ‘125 to 1 ‘ consolidation.

So no material extra cost in shares ( no more than a pound). But probably thousands in legal fees.

Or I could be wrong and the company has more cash than I thought ?

Indeed, there will Be 3 reasons to do a highly dilutive discounted immediate placing next week if there is a yes vote.

The first will be to issue an absolute shed load of shares to cover the previously announced fee packages, and will then Need to arrange to cover current wage\salary\bonus obligations as well as overdue wages.

And also to just to cover the bills to keep the lights on. That’s not even taking into account the cost of restarting the trials..

Yes but with the placing there will be more shares hence a lower share price but the same Market cap.

The company used to be valued at at the equivalent of over £3 yes 300p but a 1 million market cap.

60pParty - what price do you expect the imminent placing to be at if the yes vote wins ?

Completely delusional.

Ouch indeed !

Wow valju, how much % did the value of the painting drop?

I think they would also have to suspend the shares pending administration review if they cancel the agm as there would not be enough time to reschedule another agm before a placing is needed.

That would only buy around 3 months and then back to the city boy flippers and forward sellers every few months after that.

It needs change at the top.

I notice that the company did not deny that the email was from them just that “It is effectively an unattributable post”

No shame or morals at all.

Agreed. I have to say that today’s communication from the company doesn’t give any hope for the future Imo.