RE: Incanthera IPO17 Feb 2020 16:32
Not a big bang RNS but hopefully Incathera investment pays off some day for IMM.
But I like the mention of "shareholder value "
Hopefully we will see the rise like NCYT soon! A rise like that can happen only in Pharma! Btw, did not buy any of NCYT :-( it is a roller coaster ride and not for me. Prefer a slow and steady rise.
Regarding Lanstead selling, don't see why they would be selling? This is what I found in interims statement -
"
In June 2019, as part of a placing that raised, in aggregate, £2.66 million (before expenses) from new and existing shareholders, the Company issued 26,565,200 new ordinary shares to Lanstead Capital LP ('Lanstead') at a price of 10p per share for £2.66 million. All of the shares with full voting rights were allotted to Lanstead on 2 July 2019. The Company simultaneously entered into a Sharing Agreement with Lanstead for 100% of these shares with a reference price of 13.33p per share. The Sharing Agreement is for a 24 month period. The actual consideration is variable depending upon the Company's share price. The Sharing Agreement is treated as a derivative financial asset and valued at fair value through the income statement with reference to the Company's share price as at the end of the accounting period.
On 2 July 2019, the Company also issued, in aggregate, a further 1,328,290 new ordinary shares to Lanstead as a value payment in connection with the Share Subscription and the Sharing Agreement.
"