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OCTP could find a cure for cancer, HIV and dementia; invent a 100% efficient and clean power source; create a self propagating and flood, drought and disease resistant crop that could end world hunger...
...and their share price would still fall on the news.
I'm grateful for the explanation, but still have questions. Some of the resolutions being voted on suggest (to my untrained eye) to grant the directors more power over the deferred shares than I would be comfortable with.
Right. So, my reading of it is that they take your shares and split them in two - with one being valued at 0.1p, and the other being valued at 0.9p.
They then wave a magic wand and turn the value of your 0.9p share into nothing.
The company's share value is then 0.1p. Market cap has then gone from around £9m to £900k (which ties in with the blurb in resolution 10 about issuing up to 66% of the issued share capital, or around £600k).
By all means shoot me down in flames, but this is how I read it.
Makes a mockery of their intentions with this doesn't it - https://www.gov.uk/government/consultations/consultation-on-proposals-for-legislative-changes-for-clinical-trials
They can't even manage their current timelines