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Expired...sigh. Never mind there's all week to try again. .

Nice one CW10, just hoping my limit order goes through. GL .

This needs Phase3 updates prior the IPO, imho https://listingcenter.nasdaq.com/assets/initialguide.pdf .

Unless he's planning stake-building/acquistions by Q3? It might be worthwhile listening to the presentation again with this in mind. You read it here first (smiley) .

Did you notice the funding in Q3, on the chart behind Cameron? .

A reminder: "To date, the Company has completed eight Phase 1 and 2a clinical trials for RPL554, with 282 subjects enrolled. In these clinical trials, RPL554 has been observed to result in statistically significant improvements in lung function as compared to placebo. The Company’s clinical trials have also shown clinically meaningful and statistically significant improvements in lung function when RPL554 is added to two commonly-used bronchodilators as compared to either bronchodilator administered as a single agent. RPL554 has also shown anti-inflammatory effects and has been well tolerated in the Company’s clinical trials, and has not been observed to result in the gastrointestinal or other side effects commonly associated with the only phosphodiesterase 4 inhibitor currently on the market. The Company is developing RPL554 for treatment of patients with COPD and for treatment of patients with CF, and believes RPL554, if approved, has the potential to become an important and novel treatment and standard of care for these patients. The Company may also explore, alone or with a collaborator, the development of RPL554 to treat asthma and other respiratory diseases" http://www.veronapharma.com/uploads/media/bf51c7b1474655eefa124ac5566b1290a82dffa8.pdf .

Would an IPO prior to the update be in breach, in that the Company is not obtaining the best price? It has, after all, been stated that positive rersults are anticipated. "A fiduciary relationship is a relationship of trust. This places a duty on company directors to act within the best interests of the company, in good faith, and honestly. A director must comply with his responsibilities and fiduciary duties set out in the Companies Act 2006"

As suggested on February 3, the price is drifting lower. If positive results are expected, the IPO should be held until after these aere known. Positive news could bring the price into the 450p to 500p range at which point far fewer shares would need to be released to cover the IPO. Having an IPO before the results only benefits the institutions to the detriment of both the Company and shareholders. ..

Kindly provide a link to the Circular which doesn't yet appear to be on the KGLD site. TIA .

"Kola Gold" is not Kolar Gold - attention to detail always helps! http://www.proactiveinvestors.co.uk/companies/news/172705/old-hummingbird-gold-assets-move-into-aim-traded-glenwick-172705.html .

51,361,064 (post consolidation) plus 65,000,000 (assuming all issued) 116,361,064 in total. Between now and IPO it is possible that the share price might be taken lower by institutional investors wanting a greater profit margin when trading starts in the US. In this scenario, I will most certainly be increasing my holding. GL .

Digger01 Post consolidation there will be approximately 53m shares issued at £1.50 (based on current prices) The mcap is unchanged. Without knowing the terms of the IPO it is impossible to indicate by what the issued shares will increase. GL .

https://www.sec.gov/investor/alerts/adr-bulletin.pdf .

By way of example, An ADS is usually a multiple of an Aim share ie One ADS = Twenty Aim Shares, the precise ratio will be in the IPO document. After consolidation each Aim share will be £1.50 then each ADS will be £30 (20 for 1 example). Prior to the IPO there will be a book-build whereby institutional investors will be sounded out regarding interest in purchasing and at what price. Given that there is sufficient interest to invest at £30 (US$ equivalent) the IPO proceeds. To keep the maths simple, let's say the IPO was to raise £30m ie 1,000,000 ADS, the number of shares to be issued would be 20m (Aim share equivalent) and these would be included in the total number of shares issued. However, although "issued" they would be reserved for the ADS. Anyone can buy/sell ADS subject to having a US dealing account. For those who don't it's carry on buying/selling on Aim. .

The price cited is an example, not the actual placing price: "based on the closing mid-market price of an Ordinary Share at 17 January 2017 of £0.03325, the Company would expect to generate approximately £108 million (approximately US$130 million) in gross proceeds" Also, "The exact timing of the Global Offering, the number of, and the price range for, the American depository shares and, if applicable, ordinary shares to be offered and sold in the Global Offering have not yet been determined" DYOR .

Picked up some more - couldn't resist. . GL

Bought @ 14.55 (smiley) GL

Just picked up some, which may show as a delayed trade. GL

The current shares in issue total of 2,568.05m also incorporates those issued for the ADR's. .

The current market cap is £81.54m, how could someone only take a 50% stake for "around £108 million"? TIA .