Member Info for Thunderoad123

My concern with Vistry is their size as a company. I feel they seem to be incapable of controlling costs nor getting the builders at a reasonable rate of pay. Looking forward I think it will only get worse where the inflationary increases of materials caused by the Iran War will only get worse and because of the pressure on Margins together with their high debt I was worried about their very existence. I bailed out at a sizeable loss so I'd like to take this opportunity to thank the Chief Exec and Chairman for their professionalism.

That’s not so bad then!!!

I normally tend not to panic and sell when prices crash as long as the big corporate investors stand firm but I can't help fearing troubles afoot as it would appear, Hargreaves Lansdown has sold most if not all their shares in Destiny in the last couple of weeks. This is hardly encouraging for we laymen.

Kipper and Volmer, I agree with you both, in that patience is the key with this drug. I fail to understand why traders are still selling when the shares are 1/3 of the price from 3 weeks ago, there is no value in selling, even to pay a tax bill. I certainly won't be selling and when I feel the doomsters have all sold out, I will be filling my boots at this bargain price.

Although there is potential for a second phase 2 because of the restructuring of the drug, delaying it's commercialisation, that 2nd phase 2 as far as I know, still hasn't been confirmed yet meaning there could be an announcement round the corner confirming the start of phase3. . Even if there is a 2nd phase 2, it will only delay by 6 months and I'm happy to wait.

I must admit, if I was a new trader, I would be very concerned about the drop of Destiny's share price but I've seen it all before with Verona Pharma. I first bought some VRNA shares at 8p and saw the price go on a fairground ride before I eventually sold at £17.50. I remember many people demanding that the company put out a statement clarifying that the huge dips in share prices was not based on any foundation but Verona never bothered which did incense some of the traders however it came good in the end. All I watch in Dest8ny are the institutional holders and if they started jumping ship I would, but they all seem to have confidence in the company and these are big companies like Hargreaves Lansdown. Like everyone else, I've lost a lot on this drop but will just stop looking at the share price for a year and hopefully get a nice surprise in a year's time. In the immortal words of Corporal Jones 'don't panic'

Thanks Digger.

Thanks a lot. I held quite a few for 10 years and when the price went low I added to it but it's never really bounced back. I jut hope i'm proved right eventually.

Thanks Digger. So we're saying that the price is still less than 2p old money which is shocking. I do think that the Market Makers are manipulating this share as on Friday, people had bought 1000s and when someone sold a small amount of shares relative to purchases it plunged by 10%. Lets hope the estimate by the professional s of between £25-30 a share comes true this year.

Thanks Digger and Barbershop. Barbershop just to clarify, as Digger mentioned the company felt that that it needed to stop being a penny share so we were given 1 share for every 8 we held. When Verona was listed on the Nasdaq it was 1 new share for 50 of the old shares which as I mentioned in my previous post currently puts the current old penny price (if that makes sense) at 1.25p which is shocking. I remember this share going up to 16p when it was a penny share which at todays rate would make it £60 per share. How the mighty have fallen. My loyalty to this bl**dy share has been so misplaced having been in it for 12 years now, I would have had more success buying a hog roast cart and setting it up outside a vegetarians convention. At least I'd still have the cart and the the pork.

Can someone refresh my memory. I' m trying to equate back what the current share price in pence would be for verona pharma at the current approx price of £5. Am I right in thinking the american share was 1 share per 50 old shares which would make the current price 10p per share and then am I right in thinking that in the uk we got 1 new share per 8 old penny shares which would make the current price per share 1.25p per share which if true is ridiculous but maybe someone like Rhodi with a better memory than mine can correct me.. Many thanks

I can't help feeling that something might be afoot with VRNA. I can't remember a time when there is just no news coming out of the company for so long.. we have all been focused on the phase 111 development but when was the last time anone heard any news about the other trials like the other version of ensifentrine or asthma or cystic fibrosis. Someone came up with a lovely description before of Shaking the tree and maybe thats what the company is allowing to happen before serious news is reported, just to punish the doubters.
I can't believe any company interested in this company will wait until 2022/3 to make a move as they would pay through the nose by then.

Hi Rhodi, I think this has something to do with Access Bio who have been the 2nd largest holder of Verona for years. They held 10.7% of the company but appear to have sold the lot. Interestingly Access Bio dropped 9.85% today themselves and I wonder if they have problems causing them to sell Verona. Very sad for we long term holders as its dropped 30% in a week so if we were to get excellent news tomorrow it will only take us back to where we were a week ago.

Something I hadn’t seen posted on this site which is worth mentioning for novices including myself. I just rang the share centre who explained that when we sell the shares on the Nasdaq we have to pay 15% American tax which is a pain for most of us who had the shares in an ISA. Effectively the day we leave the AIM, our shares are worth 15% less.

As has been mentioned before, shame on the management for doing this to shareholders who have been invested in this company for years and have brought the company to this point.

Interesting, hope you succeed!!

Bewise, I feel sorry for you but totally understand your decision. I have lost so much money over the years on this share. Mentally I have written the money off assuming the shares are literally worthless but will transfer the shares in the hope it will soar but won’t be disappointed any more than I currently feel if they crashed as they’re only worth 1p old money now anyway. Can you enlighten us on your decision.

According to the trading team who I spoke to on Tuesday there’s nothing else I need to do. Returned the aforementioned form and that’s it. I assume you have asked for them to send you one.

I am totally relaxed about the drop in share price at the moment. Obviously some people are having to sell because their brokers don't deal on the Nasdaq. Being unsure on the process of the change, I rang the Share centre trading team yesterday and was assured that once the form mentioned in my previous post is completed and returned I don't have to worry about the AIM price as I will be able to sell the same share on the Nasdaq at their price. I hope it continues to fall in the UK so I can snap up a few more at a bargain price.

I wonder whether the Verona board just got exasperated with the UK share as it was one of perpetual profit taking even after excellent results, and this drags the sentiment down as we have all seen on this board.

With regards to the trials, I have always believed in the potential for this drug even if Covid trial fails, I think the long term prosepects for this share if all the trials so far are to be believed are fantastic with the share price to increase in many multiple. A successful Covid trial would be a Glace Cherry on the top.

I cant remember her name but she was in customer service the form arrived today and it is.

Substitute form W-8BEN
It describes itself as - Certificate of foreign status of beneficial owner for US tax withholding.

Buddyhell, Just to let you know, I managed to have a long chat with a very helpful lady at the Sharecentre yesterday and she has allayed my fears. I was concerned that the VRP share price was falling and if the IG merger with the Share Centre fell through I would need to sell the shares at a great loss and transfer them to a broker that deals with the Nasdaq. She assured me this isn't the case and even if the IG deal fell through I would still be able to deal on the Nasdaq once I have completed a form which she is sending out to me. I think the reason why some holders are struggling to get information from their brokers is because the lady explained they still haven't been told officially that VRP is de-listing from AIM and the moment it does, if needed all holders will be contacted.

I would just say that in my view holders who are being spooked by the fall in the price shouldn't be concerned if you are with a broker that can deal on the Nasdaq as the current VRP share price is more than AIM. I feel sorry for Holders that having to sell now to be able to move to a broker than can deal on the Nasdaq as they will be hit by the falling price.

I haven't had further confirmation from the Share Centre but this is a response I have had from Hargreaves Lansdown by email.
'I am pleased to confirm that we do hold Verona Pharma currently on the London Stock Exchange. If this is being reregistered onto the NASDAQ then this may not cause an issue and may become a corporate rights vote, which we will inform our clients of once we have further information. This should not prevent you from transferring over to Hargreaves Lansdown, however we have not been provided the full information from Verona Pharma as of yet.
If your current provider isn’t able to accept online transfers, you can download a Fund & Share Transfer Form or a Stocks & Shares ISA Transfer form here.
Please return the form(s) in the post to us at: 'Hargreaves Lansdown, One College Square South, Anchor Road, Bristol BS1 5HL'. We also have a freepost address: Freepost, HARGREAVES LANSDOWN. Please be aware that freepost can occasionally take longer than regular post.
Both stock and cash transfers tend to take 2 to 6 weeks. We don’t charge for transfers, but your current provider might.