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Onzima Ventures Share Discussion Threads
Showing 2501 to 2519 of 2525 messages
It does sound very similar to N4s. Certainly further advanced. Is that good or bad?|
|I was intrigued today to read an email from Proactivity saying that Futura Medical is developing a fast acting OTC treatment for erectile disfunction. Sounds like N4's, but with a bit more details. Competition, I assume.|
|Makes it much more focussed and I'll be interested in getting back in, depending on price at re-entry.|
|The RNS we were all waiting / hoping for. Welcome news in the face of much skepticism of late ;-) And a return to trading from mid-April, not too long to wait in the grand scheme of things.|
|that is good at least we are back in play|
|Hmmm.. light at the end of the tunnel ?|
|Pleased to see there is life after death.|
|17 January 2017
Onzima Ventures plc
("Onzima" or the "Company")
Proposed Acquisition, Strategic Update
Appointment of Nominated Adviser and Broker
Onzima is pleased to announce that it has agreed in principle terms conditionally to acquire the 51 per cent. of the issued shares of N4 Pharma Limited ("N4 Pharma") which it does not already own (the "Proposed Acquisition"). The consideration for the Proposed Acquisition will be satisfied by the issue of 36,409,210 new ordinary shares of 0.1p each in the capital of Onzima ("Ordinary Shares"). It is intended that at the same time the Company will seek to raise approximately GBP3.0 million by way of a placing of new Ordinary Shares to fund development of additional patented reformulations of a wider range of generic drugs, to undertake clinical trials for the Company's reformulation of Sildenafil and for working capital purposes.
The Proposed Acquisition will be classified as a reverse takeover under the AIM Rules for Companies and, as a result, is subject to the publication of an admission document in respect of the Company as enlarged by N4 Pharma setting out full details of the Proposed Acquisition and convening a general meeting of the Company where shareholders' approval will be sought for, among other things, the Proposed Acquisition and to change the Company's name to N4 Pharma plc (the "Admission Document").
Onzima is gradually monetising its share portfolio to provide funds for the continued development of N4 Pharma and the costs of the Proposed Acquisition. Following completion of the Proposed Acquisition, its trading division will cease to exist. Onzima has today agreed to increase its loan facility to N4 Pharma from GBP209,000 to GBP309,000.
In anticipation of the Proposed Acquisition, the Company has appointed Stockdale Securities Limited as its nominated adviser and broker with immediate effect.
It is expected that, subject to the completion of satisfactory due diligence, preparation of the requisite documentation and obtaining shareholders' approval, the Proposed Acquisition will be completed in mid-April 2017 ("Completion"). On Completion, it is expected that new directors will be appointed to the board of Onzima, including Nigel Theobald, the founder and Chief Executive of N4 Pharma, and that Professor Mughal and Gavin Burnell will step down as directors of the Company.
It is expected that the temporary suspension of trading on AIM in the Ordinary Shares will remain until Completion.
Further announcements will be made in due course.|
|Selective hearing I think.|
|No response someuwin, you were very quick to jump onto the FFWD thread - why so shy here?|
|Presumably you don't think this is a "pointless company", someuwin, or are you just selective about the positive or negative comments you make about shares you are invested in?|
|I'm still fully invested here too guys and keeping a regular watching brief too. Let's hope for some positive news soon!|
|Could be anytime, who knows barrie. The last RNS was encouraging regards the investee pharma company but we need news regards the re-listing. Just a case of waiting I guess.|
|The company is still twitching, it seems.
This is the first I've heard of Nuvec: have I missed something?|
|Burnell and his co-operator in Onz are supposedly highly experienced in acquisitions/mergers and AIM rules - but I also believe that Cairn have been advising here and doing some nitty gritty work on Aim submissions.|
|G Burnell is a senior broker at Beauforts I understand from TW article so isn't it him/they that are normally doing the advising? So I assume getting or understanding advice would be a normal everyday matter for him?|
|What makes you say that tenniselbow - I've been told that Class Action is possible here for alleged negligence (IF the company gets delisted and shareholders lose out)
If this doesn't come back and we get no money back, I will be happy to see the BOD wrapped in legal tape that will cause, at the very least, a major headache.
Let's see how it goes...I'm still hoping for a good outcome - but the lack of transparency and informaion from the BOD does worry me.
It may well be that G Burnell has been badly advised or there is a positive plan regarding this, but I'm p*ssede off that substantial funds are tied up - and potentially worthless, overnight.
So what's your take on it/involvement tenniselbow?|
|No action will be taken against the board. Your hope is that they will come back as
Shareholders want to get out. They prob have about £250k left|
|I have it on good authority from a Legal Adviser (Financial specialist), after concurrent discussions with Brokers, that this will be a prime candidate for a Class Action against G Burnell for negligence, if this isn't turned around.
So, shareholders. Stay on the ball.|