Amryt Pharma Share Discussion Threads

[papillon] 25/9/2019 16:25

Thanks for clarifying that with Amryt, delta.

[delta0091] 25/9/2019 14:42

sidam

the crux of it all is simple... anyone who sold on friday or before will not be entitled to any CVRs if they are issued. Even if they do get them they will be reclaimed back, as they aren't legally entitled to them. There isn't really anything complicated about it.

ps i rang AMRYT and they confirmed what i have said. You must have held the stock by close of play Friday to be legally entitled to any distribution of CVR (if such a distribution is made).

[volsung] 25/9/2019 11:05

Got a shock this morning when I opened my SIPP and saw prices were not available for AMYT.
Is this a day long thing?

[alphabravo321] 25/9/2019 10:49

He was very cagey about Nasdaq, must be close

[bermudashorts] 25/9/2019 10:19

New interview with Jo Wiley below

[positivitynicholas] 25/9/2019 05:08

There you go again Papillon telling people yet again about your little top ups and when and at what price. You just repeat yourself. We don’t care what you do but you seem to think we really do.
Do you think that we see you as a share guru? Papillon did this and that oh let’s copy him because after all he is the font of all share knowledge.

[papillon] 24/9/2019 23:45

Interesting, sidam. I presume that is why anyone who wanted to be absolutely certain of getting the CVR's, without any rigmarole, would have bought on Thursday 19th September, or before. Could that explain why the AMYT share price rose on Thursday 19th, but fell on Friday 20th?

Of course this is all academic for me because I topped up twice in the days following relisting (105p & 107p) and again a week, or so, ago (124p). Only small top ups, but then I'm only poor!

[sidam] 24/9/2019 22:25

Delta

The record date applies to the company’s register of members. If you are on the register on the record date you will be issued in this case the CVRs, but it could be a dividend. The fact that you are issued the CVRs does not mean that you are entitled to them, if you have already sold them, but you might be. The entitlement is subject to the date which the shares are quoted ex CVRs or dividend. These are often close together as the “market” does not want lots of claims being made. But they are not necessarily coterminous.

The register if members does get electronically updated, but on settlement date not on the dealing date. If the shares were held in paper form, it might not be changed on the register for 10 or more days. Normal dealings are T2, which means the actual change on the share register occurs after two days not on the dealing day.

[delta0091] 24/9/2019 21:37

"Only Scheme Shareholders entered in the register of members of the Company at the CVR Record Time, which on the current timetable is anticipated to be 8.00 p.m. on 20 September 2019, will be entitled to receive CVRs"



so if you sold on Friday, you will not have appeared on the register when it would've got updated at 8pm.

[delta0091] 24/9/2019 21:32

sidam.. no if someone sold on friday before close, they would NOT be entitled to the CVR. All holders that are on the register at 8pm on friday will be entitled.

Think about it, if someone sold 20,000 on Friday, and another person bought those 20,000 there after - are you saying both sets of holders (and ex-holder) will get the CVRs ? Obviously not as that would mean issuing double the allowable CVRs.

At 8pm the register would have got electronically updated - someone who sold on friday - or before, will not appear on there - someone who bought on friday and held on will appear on the register.

[papillon] 24/9/2019 16:19

Regarding the CVR's, sidam this is what yesterday's RNS states. It's categoric and the OFFICIAL line! The NOMAD has authorised yesterday's RNS so it must be FACTUAL. So anyone who sold on, or before, Friday the 20th September will not be recorded as a shareholder/member at 8pm on the 20th September, which was the CVR record date. It's as plain as a pikestaff to me. Hence mdalos will NOT receive any CVR's!

Here's the relevant extract copied from yesterday's RNS

"Scheme Shareholders on Amryt's register of members at the CVR Record Time, which was 8.00 p.m. on 20 September 2019, will be entitled to receive three types of contingent value rights ("CVRs") in New Amryt for each Amryt Share held at that time"

[positivitynicholas] 24/9/2019 14:58

You are an annoying and antagonistic human being Papillon and yet some people defend you on here. Just read your last post winding someone up for the sheer hell of it. What a p

[papillon] 24/9/2019 12:08

baloo99
22 Sep '19 - 13:29 - 4963 of 4979
0 1 0
According to the Admission Document published on 27 August, the CVR record time was 8 pm on 20 September. Assuming that arrangement stands, only the shares that you still held on 20 September at 8 pm will be eligible for the CVRs.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The contents of baloo's post were confirmed by this extract from yesterday's RNS:

"Scheme Shareholders on Amryt's register of members at the CVR Record Time, which was 8.00 p.m. on 20 September 2019, will be entitled to receive three types of contingent value rights ("CVRs") in New Amryt for each Amryt Share held at that time"

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

So you were wrong, mdalos. You will NOT hold any CVR's because you sold all of your AMYT shares on and before the 8pm 20th September deadline. I'm rather surprised we haven't heard from you recently. In fact you appear to have almost disappeared this week since are a prolific poster, but appear to have gone missing for the last few days only making one post yesterday on MIRL, according to your posting history.

[papillon] 23/9/2019 21:37

This is a "dead" thread, chica. I've given my answers to your questions on the "live" thread.

[alphabravo321] 23/9/2019 18:33

Bye bye Amryt...hello New Amryt

[papillon] 23/9/2019 17:50

You've just posted on an "obsolete" thread, chica.

Here's your post. I've transferred it to this thread.

chica1
23 Sep '19 - 16:26 - 123 of 123
0 0 0
Oh ok Thanks.
How do they keep track of shares ownership?
I have mine in my brokerage account.
Another question
What of the voucher Amryt gets if AP101 gets approval.If they sell it wouldn't be valued at a similar amount.

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If you have your shares in a broker's nominee a/c your broker will just substitute the new shares for the old ones. No need to worry.

They'll probably sell the voucher for the best price they can.

[chica1] 23/9/2019 16:26

Oh ok Thanks.
How do they keep track of shares ownership?
I have mine in my brokerage account.
Another question
What of the voucher Amryt gets if AP101 gets approval.If they sell it wouldn't be valued at a similar amount.

[chica1] 23/9/2019 16:26

Oh ok Thanks.
How do they keep track of shares ownership?
I have mine in my brokerage account.
Another question
What of the voucher Amryt gets if AP101 gets approval.If they sell it wouldn't be valued at a similar amount.

[papillon] 23/9/2019 15:33

Look at the RNS dated 27/8/2019, chica. Here's what it says about the CVR payments:

"The CVRs are payable in three tranches, being:
-- A contingent entitlement of up to a maximum amount of $35,000,000 subject to the Food & Drug Administration ("FDA") issuing a Qualifying Approval in respect of AP101 prior to 1 July 2022;
-- A contingent entitlement of up to a maximum amount of $15,000,000 subject to the European Medicines Agency ("EMA") issuing a Qualifying Approval in respect of AP101 prior to 1 July 2022; and
-- A contingent entitlement of up to a maximum amount of $35,000,000 on Amryt achieving a 12-Month Trailing Net Product Revenue in excess of $75,000,000 from sales of AP101 prior to 30 June 2024.
If any such milestone is achieved, New Amryt may elect to pay the CVR Holders by the issue of New Amryt Shares or Loan Notes. If New Amryt elects to issue Loan Notes to CVR Holders, it will settle such loan notes in cash 120 days after their issue.
If none of the milestones are achieved, Scheme Shareholders and Option holders will not receive any additional consideration under the terms of the CVRs. In these circumstances, the value of each CVR would be zero.
The terms of the CVRs will be governed by the CVR Instrument, further details of which are set out in the Admission Document."

[chica1] 23/9/2019 14:55

What do the 3 CVR's in the New Amryt actually mean?



Today's press release states.

'Amryt confirms that the Scheme Record Time will be 8.00 p.m. today, 23 September 2019. Scheme Shareholders on Amryt's register of members at the Scheme Record Time will, subject to the Scheme becoming effective, become entitled to receive New Amryt Shares pro rata to their existing holding at the Scheme Record Time. Furthermore, upon the Scheme becoming effective, Scheme Shareholders on Amryt's register of members at the CVR Record Time, which was 8.00 p.m. on 20 September 2019, will be entitled to receive three types of contingent value rights ("CVRs") in New Amryt for each Amryt Share held at that time. The CVRs are also being issued to Optionholders pro rata their existing holding of Options at the Scheme Record Time. Pursuant to the terms of the CVRs an aggregate amount of up to $85 million may become payable to the holders of CVRs if certain approvals and revenue milestones are met in relation to one of Amryt's principal clinical development products, AP101.

[positivitynicholas] 23/9/2019 14:46

Why do you have so many people on filter? Now take a wild guess 😂

[papillon] 23/9/2019 13:21

Tiananmen is another I have had on filter for a long time.