RE: LAST CHANCE?15 Jul 2020 10:41
DCR, If you watch the Gabriele Cerrone interview on Proactive on 22nd May they discuss the situation in relation to the split / demerger of StemPrint ER from TILS. Gabriele points out that until the outcome of the Royal Marsden Hospital trials the week prior to the interview investors were largely unaware of the existence of StemPrint. They invested in the company because of the other aspects of Tiziana's work such as Foralumab, Milciclib and in relation to Covid 19. As such he says that Stemprint was until then valued at zero on the balance sheet. At that time the SP was around 97p having been much higher in the past without investors knowing of StemPrint. So, my view is that the analogy with the pizza is a little misleading in this instance. The value of Tiziana may reduce after the split since part of the SP rise, particularly since the ASCO poster, may well be due to the outstanding results of StemPrint ER becoming public knowledge and also the prospect of 'free' shares. However, it will not in my view be like splitting a pizza in two equal halves. I don't want people to get the impression that that is likely to be the case. StemPrint, although a very valuable asset , is only a very small part of the TILS 'staple'. Indeed, the value of the TILS shares plus the shares in the new company will in my view exceed the current TILS share value. I could, of course, be wrong but I hope not for the sake of all current shareholders.