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been rereading the formal announcements as every time i do i find something i haven't seen before or fully appreciated (probably because I'm a bit slow on the uptake these days).it seems to me that this is potentially a huge transformation of the share ownership structure. if it all goes through and the conversion shares are all fully converted(which i expect will happen at some point) we shall move from the current situation where 74.42% of shares are in public ownership,i.e. not held by mellon, gibson and their vehicles and associates to one where the percentage reduces to 53.48%.bignose has already alluded to the dilutive effect of the proposals but the percentage figures are quite striking.interstingly gibsons holding would go from 3.77 to 5.68% so he is potentially rather more incentivised than now.now there are plenty of companies where the PIs have percentage holdings in the 50%range so it does not necessarily indicate anything unusual but the figures do demonstrate how control is tightening and strengthening in the hands of a few.this could be a good thing as it should increase their motivation to succeed in theory.let us hope it does in practice.
i agree with those who suggest its in essence a recognition that fortacin probably isn't going to cut it at least in the sense of being able to sustain and justify the company on its own.the addition of another string to the company bow is i hope a good thing for fortacin's ultimate success as it may provide a platform to enable fortacin to get to FDA approval which still think may be the ultimate aim.i am also pleased to see lorne abony here as anything which gives the board more balance and experience should be a good thing.his holding is however quite small.as bignose asks what are they going to use the money for? general corporate purposes and working capital isn't particularly informative and is a little ominous sounding in its blandness but I'm giving them the benefit of the doubt for the time being(i know they don't deserve it but I'm just a generous spirit) and hoping that other plans are afoot or that it will go to good use re fortacin. .overall still feel this is positive development and hoping its not just another piece of financial legerdemain by the master investor some of which have not always gone well for the PIs

agree with both your posts dougie.

ok had a chance to look at things in a bit more detail and can now see that the announcement re the fund raise does give more details of the CLN arrangements in the principal terms of the subscription agreement in the final section.as suspected it looks as though gibsons involvement is relatively minor but still gives him incentives to see things improve.we are going to end up owning yooya in which fastforward innovations have a 15% interest.mellon is non executive chairman and holds10.08% of FFWD.Lorne Abony is ceo and has 9.8%of FFWD.the 17.5m usd is coming from mellon gibson abony(through a trust) and some other investors.if you look at the LSE fast forward board (FFWD) the comments unsurprisingly vary.it looks as though we may be getting yooya at a relatively modest price but of course the new shares are priced at a discount to 25 cents so its swings and roundabouts.some posters seem to think keeping the regent shares in FFWDs portfolio will be the best thing rather than selling them on when they are able as they seem to think it will diversify their portfolio and retain an interst in the CPD growth potential story.i cannot really make any useful comment on this as its a market about which i know nothing.what i did find mildly encouraging is the potted history of lorne abony.is he coming in to gear regent up for sale?who knows.i haven't tried to research him so no idea what skeletons may be in his closet but happy to take things at face value at moment does this mean that gibsons role in practice is being reduced?.this seems to me as curious implies typical mellon tactic.its all wheels within wheels.im hoping its a masterstroke but who knows.it will at least give us all something to focus on rather than the sales of fortacin which is no bad thing.very interested to hear other views and apologies if I've got anything wrong.happy to be corrected.oh yes and one final thing which i don't usually do.forecast for regent s/p by end of year is 1 HK dollar.heres hoping!

so $17.5 mil us coming from mellon gibson et al.15% discount to todays s/p(in effect) not too surprised by this as i thought they might use CLNs to finance the tax but it looks like they are going to use it for the acquision.no idea what is going on.one positive might be that gibson will have some skin in game but no breakdown of funding split so his input might be nominal.lots to think about tomorrow should be interesting!where are all the other posters(bignose is excused due to time differences)

agreed tin opener

well i wasn't expecting that.no chance to look at in detail yet so not sure what to make of it.left field?

agreed aiming high.it looked possible at one point today but momentum seems to have gone.for LTHs it doesn't really matter imo as significant movements one way or another will depend solely on the minutes news and partnership/financing news if any

up until the end of febuary the s/p was well over 100p (142p at beginning of year).now that may well have been over optimistic but now at around a 1/4 of that it looks to have gone into well oversold territory.i accept that there has to be evidence of growth and measures to address the problems highlighted in the ceos recent broadcast but once we have this i expect a very significant recovery from todays s/p. aimo of course

have to agree with captain stanley I'm afraid.

good news presumably.

sorry DGR1980.im afraid you cannot take all the blame as i topped up this morning so wish to claim my share of the responsibility.seriously though i do think this is a very good level to be in at and hoping for positive moves soon gal

small uncrossing at 8.7p

number on bid just increased massively

good man DocPhil

risible scott!

agreed

well put Benjie.there are sadly a large number of "lifestyle" companies across the aim spectrum .however i have never regarded motif as falling into that category and suggestions that it is/was imo completely ignore the very real achievement in getting iclaprim this far at this cost.rest assured the incentives for the board (and II investors) to get this to approval are immense

exactly ivy.too many straw men being set up here imo.doesnt mean we are out of the woods but at least it puts matters in a proper perspective

thanks for that bignose.surprised its taken over 2 months to do the formal release but at least the clear inference is that they will be looking to a sale of venturex etc.interestingto see if it impacts venturex s/p tomorrow.as you say no information as to how balance will be funded.

eleven posts already today.3 by 6.4 am.what motivation exists for someone to post 3 times before 7am.possibly different time zones? for a less tendentious post and as an antidote to sp's relentless obloquy i suggest reading ivy detailed post from earlier today.it warrants very close reading imo