Aortech Share Discussion Threads

[tees maar khan] 02/12/2019 10:36

It made a new 52 week high (very positive).

Either way, this has the potential to go much higher from current levels.

TMK

[bones] 02/12/2019 10:31

Seems buyers are finding a way, someuwin. It helps that traders like selling before a round number is reached despite all the momentum suggesting £1 could well be breached soon.

[someuwin] 02/12/2019 09:15

Hard to get much stock at all with my online accounts.

[bones] 02/12/2019 08:58

We could certainly benefit from another market maker or two to encourage some liquidity in these shares. The four that currently quote are all sitting there with spreads in excess of 10% and often they are priced the same. Three are currently quoting 87-97 and one at 90-100. It’s a bit ridiculous and hardly any wonder there is a reluctance to buy and sell them. I guess it will change if the market starts to recognise what is on offer here.

[landy90] 02/12/2019 08:36

AorTech's position on corporate governance from last report and accounts.....

"What does Corporate Governance mean to AorTech?.....
…..
One of my co-directors (John Ely) recently summed up our priorities as: "Our eyes, in my opinion, must always be on the patient. Only when we serve the patient first do we serve the shareholder. Unfortunately, in our world, this is a long-term proposition not a short-term one and many investors may not have the patience for that. I think we have a really great mix of experience and talent on this board and I believe we can deliver for the shareholder when we focus first on the patient."

[bones] 02/12/2019 08:25

Harrogate, given Aortech’s minnow status in the eyes of this myopic market (unbelievable I know), and that Bill Brown is actively engaging with shareholders at all times, I am not sure that yet another director is necessary at this juncture. Don’t forget that Gordon Wright is also on the board as a NED and he is an Aortech founder holding over 4% of the shares.

It seems to me all four of the NED’s have every reason to be vigilant on behalf of the shareholders and the fact that the three key NED’s that have been granted options now are fully aligned with shareholder interests pleases me as a shareholder more than before as I was genuinely concerned that any one of them could have bowed out for personal reasons with not much to lose whereas Aortech does depend on them. As you say, they are pivotal.

If Aortech was FTSE250 sized, then, yes, let’s have a man/woman in a smart suit paid to turn up for board meetings!

[landy90] 02/12/2019 08:17

Bones, it looks like they took your advice and acted as fast as possible, they were in a closed period for the last 2 month and could not issue options then.

[semper vigilans] 02/12/2019 08:15

I would much rather have NEDs in this position as opposed to stooges with little ‘skin in the game’ who are just there to satisfy compliance regulation.

[bones] 02/12/2019 08:11

Someuwin, I agree wholeheartedly. I was at the AGM and it was one of the key concerns of mine (which I raised with the board) that the interests of these three individuals did not appear to be reflected in their potential rewards given how vital they are to the partnerships under the new device development strategy. I am very glad Bill Brown and John McKenna have acted now. Bill did acknowledge the “phenomenal221; value the NED’s were giving to Aortech.

How refreshing also to see the options priced at full market quote with half of them not vesting until the market quote is at least 300p and another 30% when regulatory approval is obtained for a device. The directors are fully aligned with the shareholders here.

[harrogate] 02/12/2019 07:52

I have no problem with the options for these guys as they are pivotal. What is the issue is that they can't act as NEDs should if they are aligned like this - that is the whole point of NEDs not supposed to be rewarded with options. I think we might need at least one new NED as BB need some oversight.

[someuwin] 02/12/2019 07:13

Options for the NED's (who are doing a fantastic job)

Highly reasonable terms too...

The exercise price of the Options is 92.5 pence per share, representing the mid-market closing price of an AorTech share on 29 November 2019, the business day preceding this announcement.

The vesting terms of the Unapproved Share Option Scheme are in similar terms to those of the EMI Share Option Plan as summarised in Part IV of the Company's circular dated 22 May 2018 and approved by shareholders at the Company's general meeting on 8 June 2018. The key terms are that:

20 per cent of the Options granted vest after 3 years;

30 per cent upon the Group receiving either CE Marking or FDA approval for one of its devices in development;

and the balance of 50 per cent on the Company's share price being at least GBP3.00 per share for ten consecutive trading days. As with the EMI Share Option Plan, if the Optionholder ceases to be a director of the Company after the relevant vesting date the Options lapse 90 days after cessation unless the Board resolves to allow exercise within that period.

[blueball] 30/11/2019 18:37

Stay long.

[cocker] 30/11/2019 18:30

I have just gone on simplywallstreet.com and found the info on this and many other shares I own very helpful, not often do I say that

[bones] 30/11/2019 17:01

Added the following to the header under the “green header” section:

HALF YEAR REPORT 29th NOVEMBER 2019

Excerpts:

"Progress over the past six months has been very positive.

“The polymer business is performing well and an ambitious plan is in place to develop it further.”

“The medical textiles development has been quite incredible and much credit must go to our partners, RUA Medical, who have surpassed our expectations.“

“Progress on the heart valve is very positive with the timing of significantly improving past designs arising at a point when the industry has much more interest in alternative materials.“

“We look forward to 2020 with both excitement and confidence."

“....we look forward to a much higher level of promotion and marketing of Elast-Eon(TM), particularly focused on having Elast-Eon(TM) "designed into" products that will become "Elast-Eon(TM) Enabled".”

“....we are delighted to have recently signed a very important licence agreement with Medibrane Limited, experts in encapsulation technology for medical devices but stents in particular. This licence is all about Medibrane designing Elast-Eon(TM) into devices and promoting the benefits to device manufacturers.“

“The recent pace of development of the large bore grafts and resulting prototype devices has been outstanding.”

“We have little doubt that once we achieve regulatory approval for the grafts, there will be ready buyers for the devices, including significant OEM interest.“

“From a commercial perspective, the change in attitude and level of interest in alternative leaflet technology has been remarkable and we have recently had a number of very interesting discussions.”

[cocker] 30/11/2019 15:34

Any Techinvest subscribers here that know if AOR is being followed by them of late.

[parsons4] 30/11/2019 09:39

This is now my biggest holding since the rise (and falls of some other holdings) I am very happy to be invested here. There is no doubt in my mind that the past management have been useless but now things are moving at speed. The AIM market is so short term which is why the shares are not romping ahead now. I will not be selling a single share here !!!!

[bones] 29/11/2019 17:01

Too many casual “investorsR21; and also so-called journalists/commentators look no further than the bare numbers. You’ll get a tiny paragraph in something like “Shares” or IC commenting on the losses and the small income and increasing R&D spend without understanding the bigger picture and the progress made this year.

Hence all that small sized selling today. Noted even one purchase of 2,802 shares in the morning and an identical sale of same amount 4 hours later at a 3p per share loss. No rational sense in this market!

Once the contents of today’s RNS are read carefully, I believe that shrewder parties will pick up the loose stock over the next few weeks and leave £1 behind in time.

[langland] 29/11/2019 16:12

It seems to me that the market makers are short so they cannot let the price get away from themselves or they will be even more stuffed. So they are trying to walk it down each time there is a small sell. However, all that work is undone when someone shows up and buys 7k at nearly the full ask. I reckon early next week will be interesting.

[someuwin] 29/11/2019 16:11

Well I've been adding today. A rather large holding for me now.

[cocker] 29/11/2019 15:57

What is that spread all about?. Also I am gob smacked that this isn't over 120+ today on the update, really what more could investors have asked for.

[landy90] 29/11/2019 11:48

A stent is already ElastEon Enabled, the Biotronik PK Papyrus. Its a rescue stent but has great results.

[bones] 29/11/2019 11:47

Visual comedy at its best, Langland!

langland 29 Nov '19 - 11:07 - 2940 of 2943(premium)

That's a good point, Bones. I could walk around with an 'elasteon enabled' sticker on my forehead.

[semper vigilans] 29/11/2019 11:33

Better than overpromising.

[someuwin] 29/11/2019 11:20

I get the impression there's a lot more going on behind the scenes than we are being told about - yet...

"...We have kept the industry appraised of our developments and have received some very positive feedback on our product portfolio. We have little doubt that once we achieve regulatory approval for the grafts, there will be ready buyers for the devices, including significant OEM interest."


"...From a regulatory perspective, a furrow has now been ploughed and protocols for human testing of polymeric valves have clearly been agreed by the FDA. From a commercial perspective, the change in attitude and level of interest in alternative leaflet technology has been remarkable and we have recently had a number of very interesting discussions."

[greedy rooster] 29/11/2019 11:18

Must be an order in at 97p - clear this and we're off i reckon.