Aortech Share Discussion Threads

[semper vigilans] 21/11/2017 08:45

BBh - would take a bit of a court victory and improvement in sales to get that high wouldn’t it?

[bbr391] 20/11/2017 22:49

Has to be a great sign today .
£1 very possible by Christmas .

Best of Luck All

[the stigologist] 20/11/2017 12:50

AorTech Shares Leap On Potential Settlement In Long-Running Dispute
By Alliance | Mon, 20th November 2017 - 09:57
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LONDON (Alliance News) - Shares in AorTech International PLC leapt to the top of AIM after it announced it had reached a settlement in principle regarding an ongoing legal dispute with its former chief executive officer and Foldax Inc.

The medical device intellectual property company said it was responding to media reports. It added that a joint motion was issued in a court in the US state of Utah by Aortech and the Foldax defendants.

The joint motion declared that AorTech and the defendants had "reached a settlement in principle to resolve all claims in this case" and therefore asked for a stay to proceedings to "continue these productive settlement negotiations."

"If these negotiations are successful," the motion explained, "the parties will file a stipulated motion to dismiss with prejudice. If the parties are unable to successfully negotiate a settlement, the parties will provide notice to the court and ask that the stay be lifted."

AorTech will issue a further statement in due course, it said.

AorTech had raised a case against its former Chief Executive Officer Frank Maguire, who had resigned in November 2013. AorTech had claimed that several matters arose after his resignation which raised "serious concerns".

AorTech claimed Maguire had sought to undertake business transactions with existing and potential licensees without notifying the board.

It also claimed Maguire had negotiated with individuals at Foldax regarding a potential heart valve deal. Maguire subsequently joined Foldax in a senior position.

In a separate announcement on Monday, AorTech said it had appointed Stockdale Securities Ltd as its nominated adviser and broker with immediate effect.

Shares in AorTech were 13% higher at 20.25 pence on Monday.

By Ahren Lester; [e-mail].

Copyright 2017 Alliance News Limited. All Rights Reserved.

[the stigologist] 20/11/2017 12:33

I'm guessing Foldax due a funding round and the litigation risk hanging over them would make it a difficult sell

[the stigologist] 20/11/2017 11:47

Shows what could happen if there is real positive news

[cocker] 20/11/2017 09:50

I agree for once, all looks a lot more positive going forward

[landy90] 20/11/2017 08:28

The settlement should be the end of the Maguire era. The new broker and Nomad looks like a positive first step for the future.

[the stigologist] 20/11/2017 08:05

I've known stocks go up a lot on settlements. Looks promising despite any guidance on likely figures

[gac141] 20/11/2017 07:41

Fingers crossed for a good and quick settlement. Well done to Bill for sticking with this!

[harrogate] 17/11/2017 10:40

Given they have licensed the core material tech to a third party to sell and market I am not sure they much that much else to do !!

[the stigologist] 17/11/2017 10:39

there is always a cost it's the same principle of 'no such thing as a free lunch' there is at least an opportunity cost of using those same resources in some other more productive capacity

[harrogate] 17/11/2017 09:46

Hi. I agree on the distraction but as it is us suing them I can't see much cost as we have been insured on the proceedings. I expect us to get some cash here

[the stigologist] 17/11/2017 09:34

As a distraction and potential unquantifiable cost just drawing a line under it might be enough to have significant impact.

[landy90] 17/11/2017 09:05

Well read Harrogate, "completion" does suggest they are nearer the end of the process than the start. The "Stay" would stop the court publishing its decisions on summary judgement which have been due for a while avoiding any adverse ruling on the public record.

[semper vigilans] 17/11/2017 07:29

Thanks for the info Landy - hope it bodes well for AOR.

[landy90] 17/11/2017 07:25

After 3 months of no news on Pacer about the litigation, a motion to suspend the case pending settlement discussions.

[cocker] 28/9/2017 19:14

Did anyone bother to go to the agm?

[cocker] 26/9/2017 08:31

Agm tomorrow. What's the chances of any news?

[the stigologist] 14/9/2017 08:45

whoa giddy up

Seems in a hurry

[davisc5] 14/9/2017 07:46

What's going on there!

[cocker] 14/9/2017 07:43

He now has 10% Stig !

[harrogate] 11/9/2017 13:15

Ex director - that is what makes it a bit more interesting for me.

[cocker] 11/9/2017 13:06

I have not been Aortech's biggest fan over the last few years, having said that when a director digs deep to up his stake, it does install a huge amount of confidence. Perhaps worth a punt maybe at these levels !

[the stigologist] 11/9/2017 10:52

Seems this is well off the radar