pendil
02 Aug 2017
Share price on resumption It will be very interesting to see the share price on resumption of trading. There is not a lot of precedent that I can remember of companies coming back from administration - which perhaps proves this administration was unnecessary. I can see some people encouraged by the validation of the technology and the amount realised who would be happy to bid it up to over 40p. There will be others who feel they have dodged a bullet and will be happy to sell at 15p (which should be below net cash).How many are in each camp will perhaps depend on the statement accompanying relisting. I expect they will say how much cash they have, how long it will last, and what the prospects are and what progress there has been for their other compounds, and perhaps details of board changes.My thinking at present is that I would be a buyer at 20p or lower and a (partial) seller at 40p or higher and probably a holder at a price in between.
Frankers70
02 Aug 2017
Re: todays news And an idea of the share price post suspension???
pendil
01 Aug 2017
Re: todays news At 31 March they only had £2m of actual borrowings but there were also £7m of trade and other payables. Set against that was £5m cash and another £4m current assets. Expenses are probably a little over £1m a month and no doubt the administrators will pay themselves a tidy sum. Best case we have £25m cash and worst case £20m. Then I think there is about £5m to come from the deferred equity raise in March (I suppose that still stands?) so they should they enough cash for about 2 years to develop their other compounds such as the porcupine inhibitor, and to secure more commercial deals.I suspect they were negotiating over a collaboration on the compound they have now sold before the administrators were appointed. Inevitably that appointment will mean we have now got a worse deal. Next time they need to get the commercial deal signed in good time before they run out of money.I am not sure how they restore credibility though. Normally you'd want a new chairman even if that's a bit unfair on our current one, who had barely got his feet under the table before the council pulled the rug.
Frankers70
31 Jul 2017
Re: todays news Sounds like good news. Do we know how much is owed to the creditors? Obviously, it'll be a lesser company going forward and wonder how that will impact the share price upon lifting of the suspension? Either way, looks like we haven't lost all of our monies here 
pendil
31 Jul 2017
Re: todays news Today's news is rather better. The disposal of one compound for $40m is a good validation of the company's technology. Not sure exactly what creditors need paying off, but the company should be left with over £20m of cash to fund the development of its other compounds.I'd like to see some board changes to show the intent to manage the finances better going forward.
give the dog a bone
22 Jun 2017
todays news Redx Pharma said the Joint Administrators are working with the company's advisers on proposals to rescue and return it to the control of its directors. It said the intention was to lift the suspension and restore trading in the ordinary shares. "Discussions regarding these proposals are at a relatively early stage and there can be no guarantee that these will be concluded successfully in the short term," the company said.========== ========== ======... oh yes and pigs might fly ! by the time the liquidators and the legal teams have gutted this crock of an investment , there'll be next to nothing to come back to. Throw in a fresh Rights Issue and further promises from the usual suspects ( ie the Board) .... worth nothing no matter how much they deeply discount the RI
reader61
31 May 2017
Think it has definitely gone bust In answer to my previous:-[link]
reader61
31 May 2017
Has it gone under? Not heard a peep, guess we are waiting for the liquidators now to do their due diligence. What did the Directors think would happen by ignoring a council who are litigious to a fault (as are most councils). Phoenix effect seems unlikely, more likely the patents will be sold to try cover the debt with shareholders being the last in line?
give the dog a bone
27 May 2017
Re: what?? RNS suspension bunch of rud dycowboys by the sound of things.... nobody but fools ignore debt collection warnings unless of course certain individuals are going out of their way to set it up in their favour.having had a rights issue a few months ago and waving papers to say the trials were advancing , it sounds to me like this company has been operating a cheap scam . bitter that I didn't follow my own instincts and avoid all set ups.
Global Nomad
25 May 2017
Re: what?? RNS suspension The tone of the second RNS also sounds a bit presumptious - as you say incompetent to allow a large loan with high interest to reach maturity without being ready for it months in advance. Given their move, LCC has no interest in supporting a company that they cannot demonstrate an advantage to their citizens. lets see.....
pendil
25 May 2017
Re: what?? RNS suspension It sounds like this may not be terminal, but if it isn't it then it demonstrates appalling incompetence. Whatever complaints they have about Liverpool City Council they are only enforcing their rights - and not surprisingly they have not cut Redx any slack since Redx relocated out of Liverpool last year.I was expecting some good news on a corporate collaboration. Unless they can announce that at the same time as a refinancing the share price is going to return at peanuts.
Global Nomad
24 May 2017
what?? RNS suspension Suspended following an announcement...
Global Nomad
31 Mar 2017
Yesterday's RNS Completely missed this and was wondering about the sp rise was about this morning.
Global Nomad
02 Mar 2017
received my new shares messaged yesterday to confirm new shares added to my trading account. lets see.
sootmeistre
10 Feb 2017
Re: Lanstead And after the cash from Lanstead had been wisely spent the SP of AMC rocketted to 44p from the doldrums of 3p [link]
