Motif Bio Share Discussion Threads

[scottdavid70] 08/6/2021 08:34

Yes the price is high but I have voted No and I will tell you why and it’s really simple

Had the Board had the decency and courage to reply to shareholders questions these past 2 years - take less money in salaries to minimise dilution I would have felt differently too but the real kicker here was -

The warrant price - after all that has gone on they still feel they deserve free shares and at a better price than the shareholders who bought shares off the back of the directions they gave.

The Directors didn’t buy shares yet deem it right to have more warrants at a better price for ONE Director than the ENTIRE REST of the shareholders.

No one can argue that is in the BEST INTERESTS OF SHAREHOLDERS not even OJ Simpsons lawyer

[w t tutte] 08/6/2021 08:21

Chuffer, at the last AGM with only 15% of the shares in attendance item 7 was defeated by a small margin, all other items passed by a large margin. So that means about 8% of the total shares in issue voted down item 7. Turn out will be far larger and I strongly suspect that the number of share voting against the RTO will be less than 15% or 20% of the shares in issue. The RTO will happen as sure as night follows day and you will be the richer for it.

[w t tutte] 08/6/2021 08:14

SD70, I am not defending the board, look back, I have said the only way to hurt them is to sue them for negligence, it is the only way. In every other scenario they win. In my view MTFB management and board have been a complete shower at every turn and if they have been negligent or even fraudulent they should be held accountable.

But the stark truth is we are where we are, there is no value left in MTFB and there is no time to find alternatives before the liquidators are called in. You say you have 11.5 million shares ? At the RTO price that is worth GBP 10,555, there is clearly upside to that price and with the warrants it is not inconceivable within 18 months you could have many multiples of that amount. The amount you are prepared to sacrifice to make a point seems high.

If the RTO were to be voted down they win and you get nothing, the RTO goes through they win and you get something. I prefer the later myself, anyway it is all semantic as it will go through of that I am certain.

On a slightly different note, if you read the proxy form it says they will broadcast the GM and that they will take questions but that these must be submitted by email no later than tomorrow. That might be route for you to get some of the answers you are looking for.

[chuffer2] 08/6/2021 08:14

What l find laughable is Tutte suddenly popping up everywhere.
I also find laughable that he thinks his alleged institutional investors aren't just a mixture of individual clients.
I also find it laughable that the last time the bod tried to con the shareholders they didn't get their way and compared to this disaster , that was a gift.
So give it up....lol lol lol

[scottdavid70] 08/6/2021 07:44

What we find laughable is that you are defending the Board

Taken close to $2 million in salaries in past 2 years

Have given themselves more shares and Warrants at a preferential price to shareholders by 50% - basically bonuses but are the ones that put us in this horrific situation by taking huge salaries and diluting us to oblivion

Took what essentially bonuses in the warrant price and in my opinion gifts to Lumsden, Williams and Wardhaugh but didn’t negotiate any value for our $18 million tax credit or Iclaprim

So yes we think the way they have shared out the deal is disgusting sorry you feel they are saints and deserve an OBE

[w t tutte] 08/6/2021 07:17

I also find it a bit laughable that some people seem to be against the share consolidation, when it is the merger ratio that cause the dilution. If I have 220 shares at 1p or 1 share at 220p as long as this is applied to all shareholders my percentage ownership of the company does not change. It is only when the comparative value of MTFB and BiVictrix are put together that the dilution occurs.

[w t tutte] 08/6/2021 07:10

Furryguy: Thank you. You are spot on, but kindly note I did not say any of the Instos were substantial (3%+). Just that there were numerous Instos on the register, most of the names I mention are each in the 1.5% to 2.5% range and when I add them all up they equal @ 24%.

Based off of the mood on the chat board I am working on the basis that 75% of shareholders will vote against. However in normal circumstance you would probably expect it to be the reverse, as you would expect most shareholders would want a certain something over a certain nothing. My expectation is that the chat board is self selecting and probably overemphasis's the size of the "against' vote. I expect the RTO to be approved comfortably but accept that I might be wrong.

[scottdavid70] 07/6/2021 22:47

And we haven’t got any upside for the tax credit of $18 million or Iclaprim

We paid for that

That’s f&&&ing why

[furryguy] 07/6/2021 20:12

Tutte:

"As of December 31, 2020, the Company has 654,991,023 Ordinary Shares on issue. The Company’s shares are only traded on AIM. In general, there are no restrictions on the transfer or sale of the Company’s shares. There are no shares held in treasury and less than 1% of the shares are not in public hands. As far as the Company is aware, there are no significant shareholders (i.e. those with 3%+ shareholdings) in the Company."

[scottdavid70] 07/6/2021 19:32

Even if this gets passed Karma will turn up. She always does. May take some time. Those who think that doing something this underhand doesn’t affect them are wrong - it catches up with you and slowly but surely it eats you from the inside out to a very dark place

[scottdavid70] 07/6/2021 16:15

Then they contract with a conspiracy of cowards and therefore are tainted with that association long term.

Clients who have morals and aren’t in need of budget PR companies will be staying well well clear

[w t tutte] 07/6/2021 15:24

Or Walbrook are just a service provider who are contractually obligated to follow their clients (MTFB) instructors, regardless of their view on the deals merits or otherwise.

[scottdavid70] 07/6/2021 13:09

Incredible that Walbrook haven’t posted the RTO details anywhere on their social media sites. They know how much resistance there is to this deal and are trying to keep it on the down low and also not allow investors to air the dirty laundry attached to the deal. They are trying to cover up for what anyone can see is a seismic injustice for shareholders of Motif Bio.

They are as shameless as the Director’s and by their silence are also accomplices to this corporate crime of not acting in shareholders best interests by answering their questions as well

[smcl] 06/6/2021 18:29

Cool heads required here if we are to win out!!

[chuffer2] 06/6/2021 18:05

I hope the lawyers are better than your mate in the newspapers but we still have the book lol???

[scottdavid70] 06/6/2021 17:01

Tru99 - even if they sell it now we are so diluted after the share consolidation that the new investors make more than us who invested in Iclaprim - that’s just criminal and also they have given it to someone who can maintain the secrecy - total scandal.

Zero news flow on Iclaprim in 2 years - that’s not a coincidence

I have contacted lawyers specifically to investigate this transaction as the company are unwilling to explain it to us which is a completely unacceptable situation we should never find ourselves in

[tnt99] 06/6/2021 15:57

This I think is the greatest cheat in this rto the fact that intclam is not part of the deal when that was why we all invested and wether we will receive anything from its sale in the future is something that should be explained

[scottdavid70] 06/6/2021 15:08

Honestly I don’t care.

When they see the ones who voted no aren’t parasites who feed off hard working ordinary peoples trust

[w t tutte] 06/6/2021 14:48

The other thing to check is the status of the warrant holders in this situation. They might be able to vote pari passu with Ordinary shareholders.

As at 31 December 2020 the share capital of the Company comprised 654,991,023 Existing Ordinary Shares and 342,491,023 Deferred Shares.

[chuffer2] 06/6/2021 14:41

I wonder which scum Tutte works for

[w t tutte] 06/6/2021 14:23

You are wrong about there being no Insto ownership looking at the latest shareholder register and excluding (client accounts). I can see M&G, Barclays, UBS, HSBC, Investec, Sand Grove, Invesco, Investec , Nomura, FIL, Lombard Odier, ABN, Schroder's, Merrill Lynch, Goldman Sachs and some other odds and sods. These names alone hold a combined 24% of shares in issue. You would also have to reckon on another couple of percent being in market makers hands. So if retail breaks say 75:25 against. You need @ 60% turnout to prevail. Best of luck to you but I think it is a pretty tall order and I suspect the RTO will proceed.