Fastnet Equity Share Discussion Threads

[richpassi] 01/4/2016 21:44

Possible that we could get some nice write ups in the weekend press, and I am not of the mind that this is going to stay at the 3p mark over the next couple of weeks, and once others realise that this is going to look very tasty :) the way I see it is yes a 1 for 8 consolidation so 24p is equal to 3p but surely that's the placing price (mates rates). For those who wish to wait to buy at 24p it could be a wait that wont happen ! If ..... this was to reach 3.5p (not ramping ! lol) then surely Amryt shares should open initially at 27p ? To me its looking good , but what do I know .

[euclid5] 01/4/2016 21:25

Hi Papillon,

Yes good poits you make & read the PI article today - they say it will not know the Phase III until sometime 2018 - 2 years away but has fast track FDA approval

just wondering how/ where will they get $50m to pay out to Birken - guess they will get a royalty deal themselves singned up 1st or up front payment from a large Pharma co.

one to watch

[jacksonpollack] 01/4/2016 19:06

this is going to go ballistic.

Headed by Shire founder Harry Stratford as its chairman, speciality drug company Amryt Pharmaceuticals has confirmed its plan to reverse into AIM-listed Fastnet, raise £10m and acquire two drug developing businesses.
Following a capital reorganisation planned for 18 April, the reverse takeover will see Fastnet acquire the entire issued share capital of Amryt Pharmaceuticals for £29.6m in new shares on 19 April.
This will be accompanied by the issue of 41.7m shares will be placed with institutions at a price of 24p, equivalent to 3p before the reorganisation, to raise £10m.
Amryt, which was incorporated in August 2015 and will be led by chief executive Joe Wiley, a neurologist-turned-private equity investment executive, has also agreed to acquire German drug development and manufacturing company Birken and Swiss/US based biotech SomPharmaceuticals, both of which are focused on potential orphan drugs.
"Today's announcement is an important step towards realising the company's vision of building a specialty pharmaceutical company focused on best in class treatments for orphan diseases," Wiley said.
"We are focused on building a portfolio of differentiated medicines, in therapeutic areas where there is large unmet medical need and which offer significant commercial potential."
The £10m placing proceeds will be used to begin Phase III clinical trials for Birken's Episalvan, a treatment for epidermolysis bullosa (EB), a rare genetic skin disorder and orphan condition that typically affects young children and for which there is currently no approved therapy.
Episalvan, which is already approved in Europe as a treatment in adults for accelerated healing of partial thickness wounds following three successful phase III studies, has been awarded orphan drug designation in the US and EU for EB after successfully completing a Phase IIa study in ten EB patients.
The global EB market is estimated to be worth approximately $1.5bn per annum.
Amryt's well-stocked boardroom also includes chief financial officer Rory Nealon, fresh from 13 years on the board of NASDAQ listed Trinity Biotech, and chief commercial officer Michele Bellandi, former head of commercial Europe for Shire.

[papillon] 01/4/2016 14:33

Big buy at 2pm. 1m shares @ 3.2p.

[papillon] 01/4/2016 11:58

"Interesting so Birken to receive 50m euros on just getting RA"

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

That could work out to be very cheap, euclid5, based on the size of the potential market. Only time will tell.

PS. "There is a competing treatment currently undergoing phase III trials called Zorblisa.

It was discovered by Scioderm, which was then acquired by Amicus Therapeutics for up to US$847mln on the strength of phase IIb results."

EUR50m could be a cheap price to pay for RA. We shall see. None of us can predict the future. At the moment FAST/AMRYT has it's attractions as an investment.

[papillon] 01/4/2016 11:47

"Jacksonpollack
31 Mar'16 - 18:43 - 1186 of 1208 0 0


Was expecting more today. Bit of a damp squib really, like most shares on aim"

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

You can't say that about AST, JP. Down 71% today. I said yesterday that those who bought AST the day before and still hold could be cursing their decision to buy. It was a pump and dump. No guarantee that CAD will make a bid and no guarantee they will pay over 3p per share if they do. Yet some rampers were talking of 15p per share and one particular idiot called temmujin was talking just a few days ago of AST being a 100 bagger. LOL. The rampers and pumpers and dumpers are all confidence tricksters. They take their fat profits whilst the gullible nurse burnt fingers.

HER is up 100% today. Another pump and dump?

[alphabravo321] 01/4/2016 08:37

And now we wait....again!

[karlm] 31/3/2016 23:13

When the full FDA is given, the payment will seem well worth it and easily absorbed. When the RA is given, the share price will be many, many multiples from where it is now.

It will be nice to have that to pay as it means things have gone to plan!

[soul limbo] 31/3/2016 22:11

what did the "just" imply ?

[euclid5] 31/3/2016 21:54

Nope I don't SL, be prpfessional please, I am just highlighting some info when I quickly looked at the AD that's all

It's a royalty payment that has to be paid out to Birken.

We all know RA are not easy at all to achieve.

[euclid5] 31/3/2016 21:47

From pg 113

Birken acquisition

Amryt signed a conditional SPA to acquire Birken on 16 October 2015 (the “Birken SPA”). Birken is 99.7% owned by the Software AG Stiftung, a charitable foundation founded and controlled by Dr Peter Schnell, a German billionaire. Completion under the Birken SPA is conditional, amongst other things, on Amryt being acquired by Fastnet, admission of the enlarged group to trading on AIM and
the associated share placing generating net proceeds in excess of €5 million (“Share Placing”).

Under the terms of the Birken SPA the shareholders in Birken receive:
• An initial payment of €1 million (see note 9);
• €150,000 on Completion;
• Milestone payments totaling up to €50 million payable on achieving certain regulatory


Interesting so Birken to receive 50m euros on just getting RA

[euclid5] 31/3/2016 21:41

anyone seen the CDS on pg 109

12 Convertible debenture security liabilities
31 December
2015
€
Principal liability 2,000,000
Derivative liability 600,000
Transaction costs (123,750)
Convertible debenture security liabilities 2,476,250

During November 2015 Amryt approved the issue of up to €2,000,000 of zero interest Convertible Debenture Securities (“CDS”). The CDS were issued fully paid up in nominal amounts and integral multiples of €1,000. The CDS are repayable on or before 30 September 2016 and are automatically converted to ordinary shares in Amryt in the event of a sale or listing of Amryt
(“Realisation Event”).

A 30% increase in the principal value of the CDS applies in the event of a Realisation Event. Corporate finance fees totalling €165,000 were incurred in relation to the CDS. The corporate finance fees will be amortised over the four month period to 31 March 2016, the expected life of the CDS. A €41,250
charge was recognised in the current period.

hxxp://www.fastnetequity.com/~/media/Files/F/Fastnet-Oil-and-Gas/circulars/amryt-admission-document.pdf

[risk1] 31/3/2016 21:31

Why not buy a handsome amount in the placing

[pottermagic2310] 31/3/2016 21:30

Keeping things very simple, as we will end up with 1 new Share in Amryt for every 8 we hold in FAST, if the current share price drops below 3p, it looks like a good opportunity to load-up.

[bigwavedave] 31/3/2016 21:28

From the RNS: "The New Board estimates the global EB market to be worth approximately US$1.5 billion per annum." Also impressive.

[soul limbo] 31/3/2016 21:22

page 32

The New Board will seek to enter into licencing deals in relation to Episalvan for territories outside of the US and EU and has already commenced early stage discussions in this regard.

[soul limbo] 31/3/2016 21:04

page 23... impressive

[barnes4] 31/3/2016 19:45

Indeed i am not hopeful of less than 3p

But want to participate in the placing but how do you participate?

[sea7] 31/3/2016 19:41

3p or less barnes!!

[soul limbo] 31/3/2016 19:27

The Imlan range is currently sold exclusively through pharmacies in Germany and generated sales of EUR879,821 in the financial year ended 31 December 2014. As a derma cosmetic skin range, products are regulated under food legislation, including cosmetic GMP with registration at the BVL as well as requiring notification under the Cosmetic Product Notification Portal. The New Board intends to undertake a strategic review of the Imlan range in 2016, with opportunities being explored to develop Imlan as a registered medical device.