GREY:BIOAF - Post by User
Post by
narmacon Jan 17, 2023 2:07pm
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Post# 35228646
Midatech Bull board / chat room!
Midatech Bull board / chat room!This off the London East chat room for Midatech!
1)
So the new investors who took 75% of the company are in at 5.85 p so there should hopefully be at least a return to that. I have taken some at just under 3p It may have been more kind to shareholders to put this company to sleep as the is there worst fundraise yet. To say there is no time to raise funds if this proposal is rejected is merely statement that they did not act earlier , and probably by design as old stamp was shooting his mouth off a year ago about a merger.
2)thought that bottom was when Armistice closed their short. added some after short closed. was wrong second bottom was when Armistice bought @3.29 & was wrong again. have not added/sold yet since news Lombard still holding some with higher average & no action from CMS + A&B (HK) so far. Holding a stick with both ends manured
3)Now I’ve just noticed IN RNS, on holder who has sold last week. Poor guy must be desperately sad, but I guess has a chance to average down here.. The Board is aware that one party which has provided a Letter of Intent has reduced its shareholding in the Company, impacting the number of shares subject to Letters of Intent. The Board will provide an update on shareholder intentions so far as it is able in the Circular to be posted in January 2023.
4)looks at least 15% holding off "As of the date hereof, we have been notified by a shareholder purporting to represent shareholders holding over 15% of our outstanding shares that they may not support and approve the transactions contemplated by the Arrangement Agreement." https://stocktwits.com/Nico1980/message/501572499 or https://otp.investis.com/clients/us/midatech/SEC/sec-show.aspx?Type=page&FilingId=16260707-3234-7875&CIK=0001643918&Index=20000
5)
One might hope so, but having owned BTI (BIOAF) for over 7 years: we have seen a few changes of management and were always told the new ones will get deal done; xB3 had to be reformulated because the original version was too expensive to manufacture; various agreements with well-known companies have been announced, but just petered-out with no actual official explanation and very little in the way of actual results. The lack of any explanation as to what has happened to all these prospective deals has been particularly frustrating, and now it is difficult to believe xB3 really does work as expected. Or there is the new conspiracy theory that this is all a ruse to take xB3 private (the new financiers will have over 50% so can do it without our approval), ie it does work.
6)... this is approved - Stamp is trying to promote this as a win, and it is - for him and and new shareholders. I will take years for the SP to recover to any reasonable level and AIM traders will now have to transfer to US ADR's in the process. Stamp needs to get an interview set up to explain to the markets why he is so happy. The rest of us are not
7)