Allergy Therapeutics Share Discussion Threads

[jimmyloser] 28/9/2023 07:41

Reality dawns.

[beccasan] 26/9/2023 08:02

Finally some new and real non-news. Great resonance for a study conducted "ex vivo", that is, on isolated or separately developed tissues of the living organism. Clinical relevance ~ zero. No patient even saw a vial of product in the photo. But it seems so, from how it was described. Obviously for a serious company this is non-news. What a show. I eagerly await the next announcement to brighten my mood for the day.

[jimmyloser] 26/9/2023 07:50

There was a time in the recent past when news of that type would have stirred up a buying frenzy.....impoThe cost of lost credibility?Sad days.For now?

[coinbase] 22/9/2023 07:11

Risk-on, we're off to the races!

[coinbase] 22/9/2023 06:32

Allergy Therapeutics, the integrated commercial biotechnology company specialising in allergy vaccines, today confirms that all foreign direct investment (FDI) clearance conditions have been satisfied in relation to the Equity Financing -

[vergeltung] 15/9/2023 14:40

The clock is ticking....

In the refinancing package there is a Facility Agreement (the 2 major shareholders ('2MS')have agreed to lend up to £40m (£10 of which was to repay themselves, but whatever)

Other terms of this include a Long Stop Date, by which the debt has to be repaid. It is (A) 6 January 2024 - less than 4 months off OR (B) if G306 fails.

There is also the Equity Financing with its Open Offer to us plebs. That is conditioned on the 2MS getting FDI clearance.

Then there is the G306 Contingent Payment. If the Facility is still outstanding when G306 is successful, (C) 250% of the Facility has to be repaid.

In all 3 of (A) (B) and (C) AGY is insolvent and belongs to its creditors, the 2MS. We are wiped out.

How do we avoid this? By having the Equity Financing and repaying the debts under the Facility Agreement.
And why has the Equity Financing with the Open Offer to the plebs not happened? Because of the failure to secure the FDI clearances. And who is in charge of obtaining the clearances? the 2MS!

So to sum up: if the FDIs are not obtained by the 2MS (and so the Equity Financing has not happened) the 2MS end up with our company with no payment to us other shareholders:
- if G306 is a success, we lose the company (Contingent Payment)
- if G306 is a failure, we lose the company (Long Stop Date)
- if 14 weeks pass, we lose the company (Long Stop Date)

The board and whoever advised them should hang their heads - if they had any shame.

[coinbase] 15/9/2023 11:50

The price is holding up remarkably well considering everyone appears to be dragging their feet.

[jpuff] 06/9/2023 18:46

I don't personally see it as incompetence so much as a planned operation to trash the share price

[farmergeorge] 11/8/2023 19:53

Perhaps alerting a financial newpaper or similar outlet to undertake an investigation may provide a high level profile for this incredible situation we find ourselves in.

[vergeltung] 11/8/2023 19:12

@Jpuff

You are perhaps right, perhaps there should be an investigation.

Unfortunately there is no court of basic business competence - so by whom?
- The Stock Exchange (they were not transparent in their AIM announcements and might have created a false market. This might involve their advisors too, in particular counsel and NOMAD)
- The police (if there was a fraudulent combination between management and the main investors)
- The financial ombudsman

We should wait and see what the board and main shareholders do now - they have so many opportunities to shaft us further .. If they extend their greed too far I would for sure support an attempt to bring them to justice.

[jimmyloser] 11/8/2023 14:33

TRADING UPDATE:_
Whilst I am as exasperated as most on here at the dire current performance of this business and I agree with much of what has been written on here of late, I wonder if I am alone in taking some crumbs of comfort from the positive update on 'peanut' being tolerable at this time. I was also heartened by the level of confidence stated by management in our much needed and potentially highly valuable grass candidate.
If one only had a crystal ball and could SEE what 2024/5 looks like?

dyor/impo

[jimmyloser] 10/8/2023 14:04

Well put Sir!

[beccasan] 10/8/2023 14:00

Again with regard to the German market, it seems that the company has for some time now had to pay several million euros as compensation to the German health system. It therefore seems that the CEO, I imagine in agreement with PJ, and with the board, paid a law firm to obtain a document which, certifying that the risk of paying this indemnity is less than 50%, and for this reason the company shouldn't have reported it in the income statement. How beautiful. It's like singing your own song. It then seems that the fact emerges that this indemnity must instead be paid. Oops, sorry, we were wrong, we were distracted by the many disasters. This time, however, the distraction served us well. What a pity for the shareholders who put their money into it. Maybe the result of a lifetime savings. Fruit of deprivation, hoping that this company had said at least a grain of truth. I look forward to the next RNS, because of course the story continues. It can only be like this now. It's like an avalanche of snow.

[1kckeith] 10/8/2023 12:42

This company has become some kind of corporate clown, blundering around the AIM stage in enormous comedic shoes, ‘accidentally’ stomping on (non-Insider) shareholders. Good is bad, large is small. Nothing is as it seems.

Our genius board and its advisors have managed to produce a situation where:
1. Investors are not investors. A major Insider Shareholder since years still does not have an Foreign Direct Investor (FDI) clearance.
2. The board is not in control (I). If this FDI approval is not forthcoming the Insider gets the company for nothing; who controls the process? (hint: the Insider! Actually it only needs use ‘reasonable endeavours’ re the FDI)
3. Good is Bad. If AGY too quickly achieves its biggest objective, striven for almost since the company’s foundation - a successful outcome for G306 - it is likely to be disastrous for shareholders.
4. More is less. If, against the odds, shareholders do get to subscribe in the largest fund-raise the company has ever had, AGY will still need more financing within months
5. The Board is not in control (II). AGY is in discussion with ‘certain shareholders’ (hint: the Insiders, SkyGem and Southern Fox) re financing after October. Hmm – who holds all the cards here? (hint: see previous hint)
6. Minus 20% is slight. Amazingly, even after last year’s cretinous shut-down, if AGY produces clinical trial material now it cannot make enough product for sale too, so projected sales will be ‘slightly lower’ than this year’s - which were short-supplied by the ‘short term pause in production’ aka the cretinous shut-down
7. The worthless is prioritised, the Important concealed. Fair value accounting: 33m warrants to buy shares at 30p is worthy of first mention (hint: it’s zero) but the known repayment premium on the Loan Facility comes second and is not quantified (hint: it’s huge at 250% and unaffordable).
8. Heads they win; tails, they don’t lose. The premium is payable if G306 is successful and the last FDI approval is not received by Jan 2024. Or if for any other reason the Equity Financing does not happen. Or if G306 is a failure.

I could go on. Major worries are that October financing (what happens if it pre-dates the Equity Financing? What sort of punitive terms will the Insiders force down our throats when it does happen?) and the slim likelihood of the Open Offer actually happening.

Like most clowns, this one is more terrifying than funny.

[wizzkid211] 10/8/2023 06:12

additional funding in october...

[wizzkid211] 10/8/2023 06:04

Revenue for the year ended 30 June 2023 is expected to be 16% lower at GBP61.0 million (2022: GBP72.8 million) as a consequence of the short-term pause in production that occurred during October and November 2022.

[beccasan] 03/8/2023 15:30

Again to stay on what Peter J. said, it would seem that this year, given the disaster of the planned and "voluntary" blockade of the production site, Llobet will not receive his modest bonus. But if it was budgeted, I don't understand why not give the bonus. So the previous year, says PJ, Llobet was good and therefore receives his paltry bonus of over £200k. However, I seem to remember that even in this year, the performance was disastrous, if I'm not mistaken, once again due to the always "voluntary" withdrawal of many products from the German market. I really love this company. it amuses me like nothing else. The couple then PJ and ML is really fantastic.

[beccasan] 03/8/2023 15:28

Thanks 1kckeith

[tomboyb] 02/8/2023 08:07

1p to almost 4p -

V good rise -

[jpuff] 02/8/2023 08:01

I think you have grasped the bit "Risk"