4d Pharma Share Discussion Threads

[williamcooper104] 03/1/2023 10:00

I think it's as much a CEO as CFO screw up; they raised debt hoping for a better share price to raise equity from; that debt was a bridging loan so just having it by itself would add a greater risk to a future equity raise Whoever's fault it's clear that a competent adult with a commerical brain is needed Fortunately I triggered a stop loss here long ago; would be interested in having another look post suspension but not if there's not some management changes to inspire confidence

[nigelpm] 03/1/2023 09:51

Quite. To be put into admin over a loan which was small relative to the market cap at the time is a disgrace.

[thiopia] 02/1/2023 14:07

Circular is published on 4D website




9. Action To Be Taken

We encourage shareholders to attend the General Meeting, which will be held in person at 9.00 a.m. on 16 January 2023 at the offices of Pinsent Masons LLP at 1 Park Row, Leeds LS1 5AB. Any required changes to the arrangements of the General Meeting will be notified to shareholders through the Company’s website at www.4dpharmaplc.com.

Shareholders who do not attend in person are strongly encouraged to appoint the Chairman of the General Meeting, or someone else who is able to attend the General Meeting in person, as their proxy to cast the shareholder’s vote on their behalf.

Details on how to do this are set out in the enclosed proxy form.

The business at the General Meeting will be curtailed to the formal business section only, with no wider presentations on business performance or question and answer session. There will be an opportunity to raise any questions at the General Meeting in person. If any shareholder has a question they would like to pose to the Board in advance of the General Meeting, this should be submitted by email to the Company at [e-mail] by no later than close of business on 12 January 2023. All emails submitted to the Company should have in the subject line ‘General Meeting Question’ and your Investor Code which can be located on your share certificate. The
Company will use its reasonable endeavours to respond to all emails received, save that the Company shall not be required to respond to any questions where (i) to do so would involve the disclosure of confidential information or inside information, (ii) the answer has already been given on the website in the form of an answer to a question, or (iii) it is undesirable in the interests of the Company to answer the question.

Whether you plan to participate in the General Meeting or not, Shareholders are strongly encouraged to submit their votes via proxy in respect of the business to be transacted at the General Meeting as early as possible.
To appoint a proxy you can:
a. complete the enclosed proxy form in accordance with the notes set out in this Notice of General Meeting and return it (together with any power of attorney or other authority under which it is signed,for a certified copy of such item) to the Company’s registrar, Link Group, PXS1, Central Square, 29 Wellington Street, Leeds LS1 4DL. A self-addressed envelope is enclosed with this Document; or
b. submit your instructions online by visiting the website of the Company’s registrar, Link Group, at www.signalshares.com; or
c. if you hold your shares in CREST, you can submit an electronic proxy instruction to our registrar (ID:RA10) through the CREST system in accordance with the notes to the Notice of General Meeting and the CREST Manual.

It is recommended that shareholders appoint the Chairman of the Meeting as their proxy to ensure their votes are cast in accordance with their wishes.

[nigelpm] 31/12/2022 20:05

I'd forgotten about that. At the time I just thought he was being overly bullish as most mgmt teams tend to be. Fair play though. Almost certainly helped shareholders that he and other directors were in deep. Injection of capital at 6p is an incredible outcome given the expectation of a zero return.

[grosstonnage] 31/12/2022 19:48

I plan to hang on to my shares and buy if it dips after readmission. If it doesn't dip then I will consider my position. Happy New Year.

[thiopia] 31/12/2022 18:12

From June AGM sidelines :

"As asked about milestone payments. They think Merck will licence 3 drugs from the JV vaccine work which attracts 5-10m US$ each. I asked if that could be accelerated. Duncan is in discussions with Merck but said they don’t work quickly. One shareholder who is a scientist with a huge holding asked Duncan after the AGM when Duncan came round and shook hands with Alex and asked if there were any more questions before we left, from 1-10 Duncan , what are your thoughts thus will be saved to trade on AIM, Duncan replied, a very good chance. I hope he is right."

Would be great if 4D relists and then announce some of these vaccine licence milestones

[blueblood] 31/12/2022 08:57

Will there be ready with news to support relist and see 8-10p initial price target

[nigelpm] 30/12/2022 23:42

Yes, I re-read the RNS and actually that would make more sense and 6p acting as a floor with a premium but as you say upside will be capped until news flow gets going.

A very good result for equity holders and I can't for the life of me imagine it not being voted for.

Assume lack of placing/open offer is to simplify and ensure the process is moved quickly.

[nigelpm] 30/12/2022 22:59

On re list we should be ~6-8p. I for one will buy more if 6 or lower. Significant progress should be made next year ;-)

Obvious question - why? How have worked that out?

[hamid1970] 30/12/2022 22:27

On re list we should be ~6-8p. I for one will buy more if 6 or lower. Significant progress should be made next year ;-)

[nigelpm] 30/12/2022 18:20

Bit more about armistice - hxxp://www.armisticecapital.com/about

[nigelpm] 30/12/2022 16:51

Not sure it's "too good to fail" - think more likely it was insane to be going into admin based on a relatively small loan. Sadly though dilution and warrants mean equity holders will get very little back and even if it succeeds in the way many think most holders will take big losses.

[katsy] 30/12/2022 16:41

I see the resident thumber down is back.

[nigelpm] 30/12/2022 14:57

Funders are never generous. They've clearly see an opportunity to make some money. It's certainly not what I was expecting particularly in the current environment so obviously someone thinks they can do ok and better than liquidating

[nigelpm] 30/12/2022 14:54

I've not run the numbers to be fair. That was me having a quick read through the RNS looking at the dilution and assuming 50m market cap. It's certainly option value now for equity. I'd certainly not want to be short so would think there might be a run up at some point but ultimately they'll need the science to work and as yet it's unproven.

[wigwammer] 30/12/2022 14:43

With 1.5bn fully diluted shares, 3p would represent a market cap of £45m. That's equivalent to around 24.5p prior to the suspension. Given they will now have a 12months+ cash runway, and that with an equivalent runway the shares traded £1+, I suspect 3p (24.5p) is rather too low... No?

[neilyb675] 30/12/2022 14:43

Armistice is a global, long/short, value-oriented and event-driven hedge fund focused primarily on the health care and consumer sectors. It invests predominantly in equities and can be opportunistic across the capital structure. It seeks to maximize the opportunity set of investment candidates allowing for the selection of unique, concentrated bets to generate uncorrelated returns. Armistice maintains significant position and portfolio level hedges in an effort to mitigate basis and market risks. Armistice views its strategy as the marriage of value and event and aims to produce compelling risk-adjusted returns in all markets.

[mark10101] 30/12/2022 14:38

That is right Nigelpm, in a situation where 4D was totally over a barrel the funders decided to be generous 🤣😂🤣

[nigelpm] 30/12/2022 14:12

Can't imagine it opening anywhere near 6p. Think it'll be 3p at best.

[weaverbeever] 30/12/2022 13:54

Lots to read but wow. Shares will fly and we will make millions Just kidding. But very happy we may be able to salvage something. Better than I was expecting So long as they can raise the 15 mil. Good luck all. I'm down 23k at present.

[the donald] 30/12/2022 13:53

This was too good to fail. Huge dilution but the new investor will not be sinking all of this in not to make many multiples. 4D had their back to the wall. At least there is hope.