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Lol.. actually not Fx
Hi NFTs, How's AVCT done since you told us to buy it at 135p?
I'm enjoying that this is being called the "Gooding Declaration"
https://shorturl.at/bhkqB
"Major licensee technical objections regarding viability of NXP002 as an inhaled therapy are now addressed..."
Hope so FX.
“… We expect the European grant to follow shortly, which will further support the Company's on-going partnering activities.”
Certainly helps to have the patents granted.
NXP002 now has approvals in US, Japan and EU.
On a positive note, the 'intention to grant' for the European Patent of NXP002 has now come through.
https://patentscope.wipo.int/search/en/detail.jsf?docId=EP328059213&_cid=P21-LS8UKP-85805-1
The thought behind it being a market maker holding the warrants is along the line of;
The warrants were issued as part of the fund raising last year. So the company raise an amount of cash up front, but don’t get the cash for the warrants till they’re exercised.
Typically this would be out of the companies control as to when it happens, but if they are held by a MM, there could be an agreement that they can be exercised at the company’s request as and when they needed the money.
So Peel (or another MM) hold the warrants and are exempt from notification.
NFX tell them when they need the monies released.
The MM then forward sells into the market, raising the cash to give to the company.
The warrants are later exercised and the MM has the shares to hand again without having to declare a holding.
For me it’s more expecting to see an ‘exercise of warrants’ rns.
I have a sneaky feeling PEEL are somehow involved.
As a market maker they don’t have to declare a holding until it’s above 10%
Always makes me smile when there is a tiny and insignificant website update undertaken, but hey its been a year in the making.
One page has had one minor change on the 1st Feb at 12.30pm.
Must have been a quiet lunchtime.
If it is the warrants being forward sold, I don’t know how much time they would have before exercising the warrants. That’s part of the dark arts of the market.
Only Dan would have to notify on the same day.
Jo Holland isn’t a director anymore so only has to declare as a major holder, which I think is after 2 days
31.5m clean sells now.
If it is the warrants thats no bad thing a jiving says, its cash to the bottom line of the company.
Thanks Jiving, looks like 26.5m clean sells. (as in round numbers of 1m or 2.5m)
FX, i understand, its not a straightforward thing and shows the 'one rule for us and one rule for them' approach that the market works to.
I guess it relies on the third party receiving the shares before the share sale is closed out. Usually when you buy or sell, whilst it shows straight away in your account it still takes a few days to clear.
So if the warrant holder says to the third party, 'ok you pay me 0.27p per share for my 35m shares and I'll exercise them (at 0.25p)'
The third party could go to the market on day 1, sell the shares at market price (say 0.29p), the warrant holder then exercises them on day two and transfers the shares straight to the third party, who then has the shares by day 3 when they have to close out their sells.
Purely my guess on how it works, so probably full off holes.
FX, with forward selling the warrant holder will make a deal with a third party (broker) in advance of exercising the warrants.
Its like short selling, the warrant holder agrees to give the shares to the third party, so the third party sells the same amount in advance of receiving the actual shares.
Hmmm... to big for Pi's.
My bet is its forward selling the 35m warrants if they are being exercised shortly.
To directly quote Dan on the additional work to NXP002.
"...with NXP002 we are now in a position where we don't have to do any new work that we haven't yet completed we're simply looking at increasing the sample size of data sets that we have so that we can make those data packages suitable for partners in the data and the statistics."
Think it’s more of a relief rally based on the going concern statement, plus written confirmation of discussions underway.
Looks like it FX, those who wanted to talk solely about NFX don't seem to have anything to say.