BNN Technology Share Discussion Threads

[ssc85] 10/10/2017 16:43

Heard today that they are in the process of finalising paperwork for at least one new appointment which once sorted can lead to re-listing. No indication who it was or what position, just passing on in good faith.

[newmanontheblock] 10/10/2017 16:42

Wla. If true, that means allegations must be only allegations with no real substance. But chairman realises DM cannot continue in CEO role. Hope DM does not put up a stupid pride related fight and we can just all get trading again.

[wla2510] 10/10/2017 16:27

Negotiating new role for DM trying to keep him happy. Howl whatever the next missive says makes me feel happier about future of BNN...

[newmanontheblock] 10/10/2017 16:10

Well, 2 days down...3 to go in this week to see if we hear anything? Surely company will realise they have to make regular updates?

[highasakite] 10/10/2017 12:50

The longer this suspension goes on the worse it will be.

[and11] 10/10/2017 08:49

I agree nohead & I suspect he is. Let’s hope for good news very soon...

[nohead] 10/10/2017 08:23

It is time for the Chairman to step up to the plate and do his job

[newmanontheblock] 09/10/2017 18:59

Nohead. Agree again.

[nohead] 09/10/2017 17:14

I'm quite sure that the large institutional investors in BNN are being briefed off-line about this situation. This is a public company and it is still operating. Therefore ordinary shareholders should be receiving operational updates (especially given the circumstances) even if the shares are not trading. I don't believe the London Stock Exchange should prevent a listed operational company from trading for a prolonged period because there is a question mark over the CEO/COO. Listed companies frequently change, or put under review, their senior management. That does not justify suspending the stock for more than a week or two. The CFO made allegations serious enough to warrant an investigation. That obviously means that he had sufficient evidence to back the allegations up. If PwC believe, after three to four weeks of looking at this, that it should continue its investigation, then the stock should be re-quoted and the two man board announce a plan to expand the board and put in place interim management. There are plenty of people in the tech world that can be parachuted in as troubleshooters into situations like this. Bringing fresh eyes into this business would probably have been necessary regardless, as the company had been massively missing its revenue forecasts. If the CEO/COO have to remain suspended (or go) then the company needs a new battle plan. The stock needs to be re-quoted. The share price will most likely collapse, but it can be rebuild, as long as the remaining cash reserves are managed prudently.

[astralvision] 09/10/2017 14:43

You bet PWC can string this out for as long as they like, free money!

[perfect choice] 09/10/2017 14:41

Depends how "wide" an issue this is Charles, who is to say. But appreciate how PwC can "extend" scope shall we say! But if nothing to find requiring action (if accusation is found to be unsubstantiated) then there is a limit as to how far this can go or that is my hope. Time will tell of course!

[charlesdarcy] 09/10/2017 14:19

Sorry PC we crossed over on posting

[charlesdarcy] 09/10/2017 14:16

Yes I have seen first hand how PWC perform and they will produce a interim report in 3-4 weeks but will only be 70% complete .
This will then advise further avenues of investigation and then they will branch off into yet more investigation .

Add China into that mix and there you have a long investigation .

Huge bill way above estimate and expenses galore with China .

If Ayesha is right then that is double quick time if he is wrong then we still have many weeks to go imo .
What a mess by very poor management to arrive where we are .

[perfect choice] 09/10/2017 14:11

Don't expect any Q3 update until PwC complete all their investigations since if contract related, then no way they will release any detail until investigation is signed off by PwC. Only 1 month has past now so would actually regard that as quick especially if China based investigations were required.

On appointments, the only option available now would be temporary appointments as both Wei Qi and DM are only "suspended" so nothing can be permanent and if the indications (Ayesha post) are that the allegation will not result in their dismissal, then both will be reappointed. However they need to get a new permanent CFO asap but that may not be easy and may have to wait to formal PwC report and company shares start trading again.

My best guess is late October if Ayesha source is correct and relisting in November, certainly not short term.

They did give an update on the 27th September and Ayesha (if sources are valid for post 7795) did indicate something could be issued fairly soon so lets wait and see.

Ayesha's 7795 post on both being exonerated (subject to proof source is valid of course and always only an indication until anything is officially stated) would be highly significant if that is actually the outcome and would turn the attention onto Scott for raising the allegations in the first place. If you ever make allegations, always be sure of your case with solid evidence. We shall soon find out who is telling the truth or not!

Just run through my 2017 numbers as we know Q3 has effectively been wasted for focusing on new initiative growth it seems. However that £27.9M of cash as of 25th September is a good figure and even if it includes an element of restricted cash (should be £2.1M as end June accounts stated £5.5M but post results stated £3.4M was released on the 3rd July), its still a good number which indicates an uplift of revenues to be at that figure. I'm marking FY 2017 revenues as £18-20M now. The run rate in Q4 should be good if all is back on plan but H2 is simply running out of months at the higher income rate, so as stated in the Interims (timings can often be uncertain in the markets in which we operate, with any delays impacting revenue and profitability) the FY figure will suffer while run rate will be much improved or that is the hope after this event. All this is subject to the allegations being discounted and having no more material affect on BNN and BNN contracts are all in place. So still have to wait to see if this post is idle speculation or has real substance. Back to sleep again now!

[andy] 09/10/2017 13:43

nohead,


It is of course entirely possible that they have only been investigating for three weeks, as they would have to put a team together, an examine the allegations before commencing the investigation.

So the investigation may not have been ongoing for as long as we think....

[newmanontheblock] 09/10/2017 11:07

Tend to agree nohead. Hopefully Ayesha4 is right and we will hear something this week.

[nohead] 09/10/2017 10:37

The CFO handed over evidence of serious allegations against the CEO and COO. Given PwC were asked to report back to the board on this in an expedited manner, you would have thought that after a month they would have reached an initial conclusion. The company is still operating, and given the circumstances, the board should be explaining how our company is being managed during this investigation period. The suspension has been over a month now. This is a public stock and it should be trading. The board has had enough time to recruit a couple of new board members (which they clearly need regardless of the outcome of the investigation) and get this stock trading again. Their duty is to build/rebuild value for shareholders. This is supposed to be a tradable stock. They can't keep hiding behind this investigation.

[wla2510] 08/10/2017 18:50

Hopefully: an update on Q3 trading albeit that it’s not going to be as good as forecast, news on the allegations and outcome of investigation, and details of new appointments or at least plans for new appointments which will result in better governance for the company and a new PR company all providing a better platform for listing on NASDAQ in 2018. There’s a lot of hoping there but that is what I’m looking for..

[credock] 08/10/2017 15:40

Hopefully get an update this week.

[merill] 07/10/2017 12:39

2 us biggies are buying Motif (MTFB). Both bought 5% each in 2 days.
Merrill Lynch


Good news hit the wires this morning from Motif Bio (LSE: MTFB), a clinical-stage biopharmaceutical company aiming to develop novel antibiotics. The market likes it and the shares are around 36% higher as I write.
The excitement surrounds details of a positive topline result from a global Phase 3 clinical trial called REVIVE-2, which is focused on the firm’s investigational drug candidate iclaprim for patients with Acute Bacterial Skin and Skin Structure Infections (ABSSSI).


A new drug is born
Chief executive Graham Lumsden tells us that today’s positive results mean the company has completed the two required Phase 3 trials in ABSSSI necessary to submit a new drug application to the US Food and Drug Administration (FDA), which Motif Bio plans to do by the end of the first quarter of 2018.
According to medical experts, ABSSSI is a serious infection and every year around 3.6m people in the US are hospitalised with it for several days. The problem with existing treatments is that they tend to be toxic to the kidneys and that’s bad because around 26% of those suffering with ABSSSI also have kidney disease. Happily, during the trial, kidney toxicity was not observed with iclaprim.
The hope now is that Iclaprim may prove to be “an important option for the growing population of patients with ABSSSI and kidney disease who need a safe and effective antibiotic targeting Gram-positive bacteria, including MRSA.” Meanwhile, from an investing point of view, the outcome of the trial means that Iclaprim now has value, which Motif Bio may be able to commercialise down the road.


Motif Bio presents drug trial data
6th October 2017 08:16 | Motif Bio Plc Ord 1p
Motif Bio has presented new pre-clinical data regarding its investigational drug candidate iclaprim to the IDWeek 2017 conference in San Diego.

"The data presented today underscore the potential utility of iclaprim in a range of patient populations with suspected MRSA infections, including cystic fibrosis patients with Staphylococcus aureus lung infections," Motif Bio chief medical officer David Huang said.


At 8:16am: (LON:MTFB) Motif Bio Plc Ord 1p share price was +0.25p at 43.75p





Merrill Lynch Ups Motif Bio Stake Following Iclaprim Results (ALLISS)
By Alliance | Fri, 6th October 2017 - 14:19

LONDON (Alliance News) - Merrill Lynch International has raised its stake Motif Bio PLC under a transaction on Wednesday and now holds 5.038% interest in the pharmaceutical company.
The purchase came on the same day Motif Bio reported positive results from its phase III clinical study of flagship antibiotic Iclaprim. Iclaprim met its primary endpoint in the phase III trial in patients with acute bacterial skin and skin structure infections, which was non-inferiority whilst compared to the standard of care vancomycin.
Earlier today, Motif Bio released new pre-clinical data showing positive results regarding the use of Iclaprim. In an in vivo model mimicking the pathophysiology observed in cystic fibrosis patients, rats were dosed with either 80 or 60 milligrams of Iclaprim, 50 mg of Vancomycin, and a placebo.
The Iclaprim rats showed a 100% survival rate, 33 out of 33, while Vancomycin showed 92% survival rate and the placebo 48%.
Merrill Lynch had a holding that was below the notable threshold prior to the purchase.
Motif Bio shares were up 6% on Friday at 46.11 pence.
By Joshua Warner; [e-mail]; @JoshAlliance
Copyright 2017 Alliance News Limited. All Rights Reserved.


Motif Bio PLC Holding(s) in Company
05/10/2017 9:57am
UK Regulatory (RNS & others)


TIDMMTFB
RNS Number : 8030S
Motif Bio PLC
05 October 2017

NOTIFICATION OF MAJOR HOLDINGS
-----------------------------------------------------------------------------------------------------

1a. Identity of the issuer MOTIF BIO PLC
or the underlying issuer
of existing shares to which
-----------------------------------------------------------------------------------------------------
% of voting % of voting Total of Total number
rights attached rights through both in % of voting
to shares financial (8.A + 8.B) rights of
(total of instruments issuer(vii)
8. A) (total of
8.B 1 + 8.B
2)
---------------------- -------------------------- ---------------- ---------------- -------------
Resulting
situation
on the date
on which
threshold
was crossed
or reached 5.03% 5.03% 13,257,448





3. Details of person subject to the notification obligation(iv)
Name SAND GROVE CAPITAL MANAGEMENT
LLP
City and country of registered LONDON, UK
office (if applicable)
4. Full name of shareholder(s) (if different from 3.)(v)
-----------------------------------------------------------------------------------------------------
Name SAND GROVE OPPORTUNITIES
MASTER FUND LTD

[highasakite] 07/10/2017 12:23

fairbear

how much u got in this tiddlywink fraud fella ?

[fairbear] 07/10/2017 12:18

I am fed up getting alerts and when looking in find it is just people getting wound up by that to$$er HAAK. Please can you all filter it so we can just read sensible posts