Aortech Share Discussion Threads

[bones] 22/5/2018 19:29

Interesting clause in the directors' EMI options explanations:

(e) Vesting of Options
As regards options to be granted to any Director, such options will vest as to

- 20 per cent. after the expiry of 3 years from the date of grant,

- 30 per cent. on the receipt by the Company of a CE Mark for any of its products and

- 30 per cent. on the closing middle market quotation of the Ordinary Shares, as derived from AIM Appendix to the Daily Official List of the London Stock Exchange, being at least £3.00, being 10 times the Issue Price, for 10 consecutive days on which trading takes place on AIM.

Wishful thinking on the last 30% part?

[k1ngkonggb] 22/5/2018 18:50

Brainless as ever...coolhand

[bones] 22/5/2018 18:47

Coolhand, that makes even less sense than post 4486. Running from what?

[coolhandfluke] 22/5/2018 18:40

You got to know when to hold Know when to fold Know when to walk away Know when to run I think it's time to run.

[cocker] 22/5/2018 18:07

Six months to deliver a strategic plan, which has coincided with a cash call. The wave of optimism I am reading overwhelms me. If it takes this long to come up with a bucket full of promises, exactly how long & how many cash calls to implement them.

[bones] 22/5/2018 16:10

Davisc5, more a case of the MMs waiting on the weak hands to fold...

[davisc5] 22/5/2018 14:01

It's like waiting for a bus

[timbo003] 22/5/2018 09:22

One more suggestion: I always try to introduce myself to the Co secretary and/or the CFO at an early opportunity and tell them that I would be interested in participating in any future fund raising, especially if the shares were to qualify for EIS, I then suggest that perhaps I could take a allocation in the so called subscription shares which are often issued alongside the placing shares. That has worked a couple of times for me in the past.

[timbo003] 22/5/2018 09:14

Getting EIS3 certificates through cheap and cheerful retail broker accounts is always a challenge, basically if you are paying just £10 or thereabouts to buy and sell the shares, you will get a quality of service to match.

If you have the contact details for the CFO (or company secretary) that is always helpful, as you can make them aware of your participation in the open offer and they can ensure your details get submitted on the EIS1 form which goes off to HMRC.

[bearfoot] 22/5/2018 08:10

Excellent point Harrogate. I can't imagine.

[harrogate] 22/5/2018 08:07

But how will they get the certificates done for everyone in nominee accounts etc - Practically it sounds very very difficult

[bearfoot] 22/5/2018 08:00

Harrogate - my belief is that the company doesn't need to know about (and is not responsible for) the eligibility of subscribers. It is only concerned with the eligibility of the Company itself. I had always understood it is the responsibility of the subscribers to ensure they personally and individually qualify for EIS, assuming they intend to claim relief for it through an EIS3 submission. On this basis I now reckon the Offer shares ARE eligible for EIS from the Company perspective BUT NOT from a subscriber basis (UNLESS the subscriber no longer holds shares at the time of the open offer issue). Having said all this understanding the constantly-changing EIS rules is one of the dark arts!

[harrogate] 22/5/2018 07:15

Bearfoot - are you sure that the open offer shares are EIS - The RNS only mentions that the placing and subscription shares are - I am not sure how they could issue EIS certificates to open offer people to be honest as they would know nothing about their eligibility??

[bearfoot] 22/5/2018 04:16

Timbo003->> interesting - thank you.

[the stigologist] 22/5/2018 00:59

Financial journalists are clueless about stocks. Either that or they've been asked to talk it down

On Aim, shares in heart valve manufacturer Aortech International crashed after it tapped up investors for up to £2.6million to fund the development of new textile patches and grafts. Shares plunged 12.5 per cent, or 5.5p, to 38.5p.

Read more:

[turbotrader2] 21/5/2018 23:02

Steady Stig :-)

[the stigologist] 21/5/2018 22:22

Yesterday I had 3% of a stock which could have been worth £20m+

Today I own about 1.4% of a stock which has a real chance of following a well-defined route to getting to £200m+

As a long term owner of the business, I'm very happy.

[the stigologist] 21/5/2018 19:25

I did suggest Innovate UK type funding might be open to them

[mikeh30] 21/5/2018 18:02

In addition, the Company intends to apply for grant funding of approximately GBP0.5 million from Scottish Enterprise, although there can be no assurance that such application will be successful or, if the grant is received, that it will not require to be repaid in certain circumstances.

[the stigologist] 21/5/2018 17:03

Market has missed this so far. But good things come to those who wait.

[bones] 21/5/2018 16:14

Coolhandfluke, only if all the new shares were being given to everyone for zero pennies!. The new shares are being issued for 30p each so the theoretical price is nearer 37p (5.5m existing at closing 44p and 6m or so new ones at 30p). Add on top of that any value that the market may wish to attribute to the new information and the prospects minus the risks involved.

[timbo003] 21/5/2018 15:33

>>>>BF, on the other question: If you wish to participate in EIS qualifying placings (such as this one) and IPOs, the best way to do it is to sign up as a client with a number of advisory stockbrokers, then let them know your requirements and they should inform you when suitable opportunities arise. The more accounts you have, the more opportunities should come your way.

[timbo003] 21/5/2018 15:27

>>>>Bearfoot

I see your problem, but assuming you currently hold your shares outside of a tax wrapper (ISA or SIPP), there are two more (radical) solutions, which should get around the existing investor rule, which you might want to consider:


* Transfer your existing shares to your spouce and then take up the open offer (and receive EIS qualifying shares)

* Transfer your existing shares to your SIPP (in specie transfer), claim 40% tax relief on the transfer (assuming you are a 40% tax payer), then take up the open offer (and receive EIS qualifying shares outside of your SIPP)

[coolhandfluke] 21/5/2018 15:10

I suppose upon admission of new shares the share price will be 15p.