Agm 28th June 11am at DA Beachcroft19 Jun 2019 10:00
Offices...
Having just read the three page Notice of Agm again, this morning, I quote from it....
1 Receive annual report and account
2 Re-appoint Kevin Alexander as a Director (lawyer/attorney)
3 Re-appoint the auditors (is this wise considering current state of sp)
4 Set auditors remuneration (are they worth it? do they benefit shareholders or BoD)
5 Provide authority to allot share capital (knowing it is the "Intention" of the directors to make a two new for ten held open offer, if approved?) will this is beneficial or will shares be cheaper on the open "secondhand" market?
6 Provide authority to dis-apply statutory pre emption rights (expecting lots of comments on this one ?)
No sign of an any other business or open question forum mentioned... Obviously they dont want to have to answer any? if they can help it? and assuming all BoD are present and none have colds, tummy ache or overslept!
Quote: the Companies working capital position is dependant on new funds being made available to it
Imo - mainly because the previous funds have been squandered on bonuses and salary rises and expenses, oh and meetings with major pharma's that as yet have come to nothing more than 2 LOI on 401 ? As no commercial income as yet! and of course no word on the substance of a deal or jv as yet!
Also no news on the new Financial Deal as yet, so we dont know if the Finance Co pulled or Val pulled or WHO sanctioned it in the first place? and why it was agreed to in the first place? I mean we are talking about PROFESSIONAL persons here, with decades of experience? (imo in what!!!)
Quote (from the Notes for Editors section towards end of announcement)
THE COMPANIES BUSINESS MODEL FOCUSES ON OUT LICENCING THERAPEUTIC CANDIDATES EARLY IN THE DEVELOPMENT PROCESS.
BY AIMING FOR THE EARLY-STAGE VALUE CREATION, THE COMPANY REDUCES RISK CONSIDERABLY WHILE INCREASING THE POTENTIAL FOR REALISING VALUE.
THE GROUP IS ALREADY IN DISCUSSIONS WITH MAJOR PLAYERS IN THE ONCOLOGY FIELD.
Early Stage Value... failing to see this ? I mean where is this early stage value? ie 79p down to .21 of penny !!!
In discussion with MAJOR Players... are we talking professional multi national Companies or Footballers, please confirm Val BoD, as Im unsure?
Reducing Risk Considerably, for Early Stage Potential and Value... Seems to me, the RISK has increased exponentially!
As each year that has passed it seems to get worse and here we are with the begging bowl out AGAIN, because no MAJOR PLAYER has committed as yet or at least we have not been advised of it?
NOT that we even know who they are or when the deal might land or if there is because of NDA and yet ANY sp affecting piece of news should be RNS'd ie... we are in final stage talks with AZ or whomever ?
Have to say the smoke has got Thicker and the Mirrors larger.... and the light at the end of the tunnel well pretty sure it has been switched off, as not enough £'s to pay the bill :(
IM
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