Allergy Therapeutics Share Discussion Threads

[amishp67] 27/2/2023 14:17

Hi, Why is 28th a key date?

[jimmyloser] 24/2/2023 16:10

Tuesday is the 28th.

[red army] 17/2/2023 22:16

This seems all too amateurist to me

[jimmyloser] 17/2/2023 19:15

From Nestle.

The warning came as Nestlé said it would take an impairment charge of SwFr1.9 billion (£1.7 billion) on its investment in Palforzia, an FDA-approved peanut allergy therapy, writing down much of its value.

And here we are suspended at 6p.!


impo/dyor etc

[jimmyloser] 11/2/2023 08:20

Raleigh
I'd bet you 10p that you will be back!

Feb 28th is now a key date. impo/dyor

[1kckeith] 09/2/2023 16:30

Hi farmergeorge

Abbott has some 241m shares, as you say 35.4%.
241 x 0.0625 = 15
As far as I am aware they have never bought or sold a single AGY share.
They 'acquired' the holding in late September 2014 when they bought Recalcine (Llobet's previous indirect employer) which at the time owned about 50%. The share price then was 24p. So they have 'lost' £43m (assuming that we regain liquidity at 6.25p)

[farmergeorge] 09/2/2023 11:59

This was my source:
hxxps://www.allergytherapeutics.com/investors/shareholder-services/major-shareholders/

Holdings as at November 2022. Abbott has the largest % holdimng of 35.43%.

1kckeith do you have more up-to-date info?

[1kckeith] 09/2/2023 11:38

Abbott's market cap is USD 192bn. Its stake in AGY, were it trading at the suspension level, is worth GBP 15m. I rather doubt it's even on their agenda. Looking at the poll voting numbers, it does not look like they voted their shares (it's rather unclear who did...)
The most amazing thing about the AGM was the total lack of contrition from Llobet. When challenged on the timing of the shut-down (caused by an company-instituted audit, as described by timbo) he just repeatedly said 'it was the plan' - as though it was someone else's plan and responsibility. This man's remuneration is over GBP 650k p.a.

[farmergeorge] 09/2/2023 10:23

Just checked, yes Abbott are still the largest shareholder. I wonder what their take is on all of this.

[jimmyloser] 09/2/2023 10:22

No 1 priority here is restoring credibility and confidence in my eyes.

[farmergeorge] 09/2/2023 10:11

So, there is no Abbot representative - I assume that they are the largest shareholder.

[timbo003] 09/2/2023 10:11

I am afraid so fg, the Chairman stated that they were optimistic that they would soon resolve the problem with the accounts and with the funding, but I guess he would probably say that anyway wouldn't he, regardless of what is really going on.

[jimmyloser] 09/2/2023 10:11

timbo,
Thanks.
Any thoughts on timescales to sorting cash and trading again?

All I can say is that our two big hopes must be looking very positive for Fox and ZQ
to divi up that cash.

Any thoughts.

[timbo003] 09/2/2023 09:45

There were probably about 20 people at AGM altogether, including maybe six ordinary PIs, two of whom were ex-employees/diretors (who were not very happy bunnies).

There are still lots of unanswered questions, apparently there was an MHRA audit at the end of 2021 with recomendations which they then (pertially?) implemented, they then comissioned a third part audit in the summer of 2022, which I think they had assumed would give them a glowing report, it didn't , instead they recommended that they needed to implement further improvements, the management didn't seem to have anticipated this and had no contigency plan in place and had not stock piled product, so they shut the factory to do the improvements. Amazing! but the management seem to have the support of the two big shareholders on the BOD (Fox and ZQ Capital) who were there at the meeting as they voted in favour of the CEOs continued appointment. When asked about the circumstances surrounding the departure of Scott (the Abbott Director) the Chairman said he believed it was for personal reasons and if Abbott wanted to appoint a replacement they could do so, so we were non the wiser regarding Abbotts take on all of this.

[jpuff] 09/2/2023 06:24

Did it take place even? Are the doors padlocked?

[genises] 08/2/2023 20:01

Did anyone attend the AGM

[cynic1] 07/2/2023 20:35

When do we start trading again ?

[farmergeorge] 07/2/2023 19:19

Did the AGM take place?

[jimmyloser] 07/2/2023 13:59

With AGY, it is worth having one handy in the cab of your tractor.

[jimmyloser] 07/2/2023 13:59

With AGY, it is worth having one handy in the cab of your tractor.

[farmergeorge] 07/2/2023 13:43

...will I need my tin hat?

[farmergeorge] 07/2/2023 13:42

Thanks. I thought the suspension was due to the accounts being delayed. Are we expecting bad news?

[jimmyloser] 07/2/2023 13:26

Feedback from the AGM,I expect.