Neuropharm Share Discussion Threads

[lombiff] 18/5/2010 12:35

Joe, Boobly et al.

The news was exactly as expected, and as set out in the circular - suspension was meant to happen at 0730 today, and cancellation of AIM listing tomorrow.

I was the only PI at the meeting - otherwise, it was the Board, advisers, lawyers and scrutineers. Obviously, mine were the only questions. Expressed my disappointment on grounds of investment and also apparent waste of promising pipeline, especially as, in September we announced the positive Phase II trials of NPL-2005/2009 and that we are "at the forefront of research into Fragile X".

RM took time to talk with me at the end. He said the Board shared my surprise and disappointment that none of the key stakeholders would support further fundraising. It seems we have fallen victim to tight markets for equity fundraising - several bigger placings in small pharmas in the US have had to be written down by up to 80% so there is little appetite right now.

Disappointing all round, but I believe the Board has exhausted the options for now, and there's no real alternative. I did say the biggest disappointment would be if someone now picked up the IP for £1.

The resolution was passed - announcement later. So, liquidators will start work on paying creditors and collecting moneys due. HMRC will be the final discussion.

Note that the circular talks about an "initial distribution to shareholders" in July - not sure if we'd retain a claim on proceeds of asset sales after that. It's in the hands of the liquidators - I shall be monitoring closely what happens over the next couple of months.

I'm off to Canada now for the rest of the week so won't be able to post until after the weekend.

All the best

[mike111d] 18/5/2010 12:33

The cancellation notice will in all likelihood be the next announcement, one cannot come before the other.

[boobly] 18/5/2010 12:32

OK ! Damp squib . R.I.P.

[joeblogg2] 18/5/2010 12:31

Boobly rns, resolutions passed for MVL, so no last minute bidder :((

[boobly] 18/5/2010 12:28

There was only one motion .
They are required to confirm the status to shareholders .
`Temporarily suspended , pending an anouncement`, are not the words one would expect 24hrs before the cancellation of the Shares on AIM . Especially as the agenda and timetable (albeit with 7.30am error) had been previously clearly set out .

Perhaps Lombif is enjoying Champagne and Canapes at our expense !

(Not holding my breath with this lot.)

[joeblogg2] 18/5/2010 12:11

Annoyed I couldn't attend and surprised no further update considering the meeting was at 10am . Looks like Lombif might have been the only pi there .

[boobly] 18/5/2010 12:07

Danm it ! Would have liked to have ben there this morning .

Must`ve picked up all the Penguins by now . No news yet ?

[joeblogg2] 18/5/2010 08:01

Apologies Lombif and others who are going but can't go now as 2 disasters today BVC and my GCM taking a big hit :((

[parvez] 18/5/2010 07:52

anyone know what time is the General Meeting today?

[parvez] 18/5/2010 07:50

Boobly certainly looks like it....someone has left it till the 11th hour to lob in a curve ball which should make it interesting!

[hugepants] 18/5/2010 07:41

interesting wording

[boobly] 18/5/2010 07:28

" TEMPORARY SUSPENSION OF TRADING ON AIM

NEUROPHARM GROUP PLC

At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 18/05/2010 7:00am pending an announcement. "


These are NOT the words I was expecting , I wonder if someone is going to try and pick up the Science on the cheap.....

...........Would not surprise me at all .

[boobly] 17/5/2010 17:57

Lombif:.....Can`t make it :>(
I`ve been trying to reschedule an `Imoveable meeting` to no avail .
Very sorry to be missing this , and more sorry not to be able to catch up with you (and others).
I KNOW you will ask all the right questions , and in a dignified way that might precipitate an honourable response , no doubt you will be able to gauge the level of integrity .
Just keeping my fingers crossed that we might yet see some additional value in the `Apparently Worthless` technology .
I hope you get a little more than a `Penguin` out of them at the coffee break !
Good luck .
Best wishes .
B .

[joeblogg2] 17/5/2010 12:36

Lets hope so otherwise, they will have even more irate shareholders!!

[lombiff] 17/5/2010 12:33

Joe - yeah, I have mine from Barclays - see you there. I wonder if the remaining funds will allow them to stretch to tea and biscuits . . .

[joeblogg2] 17/5/2010 11:56

Lomb. I am hoping to be there as I have my letter from TDW.

[thrgef] 17/5/2010 11:45

Lombiff, well spotted

[lombiff] 17/5/2010 07:50

thrgef - agree with you, apart from that it's £6.19m not $. I think we'll end up with about £4.5m - £4.8m (15-16p per share) but we'll see how it goes tomorrow. Realisation of value for IP is a big question - will be interesting to see how they plan to approach this.

Boobly - you still going tomorrow? I am planning to be there, and am then off to Heathrow straight after (volcano permitting!)

[thrgef] 16/5/2010 08:29

Well, shares likely to be suspended on Tuesday and cancelled from the AIM on Wednesday. Distribution of $6.19M (deduct debtors) to shareholders to take approximately 2 months from Wednesday. Our only faint hope is news on sale of parts of the company on Tuesday whilst the shares are suspended.

[lombiff] 29/4/2010 18:18

Thanks Boobly - you'll have noticed that they increased the bid yesterday and have now been quietly taking small amounts off PIs at 11.15p. They certainly seem happy to run a long position (or they are accumulating for a worked buy). I'd consider buying a few more but they are not playing ball on the offer, and the spread is too wide to make sense.

I have quite enough of these anyway, and am just waiting for the meeting and the cash payout here, but having fun elsewhere (BG. - what a great trading share! - I've been spreadbetting it for some time based on RSI which seems to bounce perfectly from overbought to oversold and back in roughly monthly cycles).

Good luck with yours

[boobly] 29/4/2010 11:15

Lombiff :.....I didn`t do the sums , but also noted the `Trend` .
MMs do not usually hold stock , certainly not for long periods . However I had `assumed` on this occasion , it was the MMs taking on stock at c. 11p which they felt very comfortable to hold for a c. 15p cash return .
I also had a sneaky suspicion that `Something` might be going on in the background , but I just dared not go there !
Thanks for doing the detailed sums , which only serves to further raise my curiosity !

[lombiff] 26/4/2010 12:51

Since April 20th, MMs have taken about 500K shares altogether at 10.57-10.7p and seem to have sold only about 7K. Yet, they won't sell now at less than 12.5p - someone is mopping them up - I wonder who!

[g2am] 21/4/2010 10:24

I'm out now, and really glad to see the back of NPH. I do hope those who hang on get a good price and hope this sort of thing doesn't happen to you all again. I could take the hit and figure I'll invest in something else in the meantime instead of waiting for the money from liquidisers. Good luck to you all

[boobly] 20/4/2010 17:42

wattzy :....Thanks . The whole AIM market seems totally corrupt .
All the best , I do hope it works out for you .

[wattzy] 20/4/2010 16:40

Boobly,

Wish you the best on whatever todays rns brings about. Personally i'm sick to the teeth of bio comps obviously after MDX, bought a load of LPX at 15p after rave reviews of the tech, only 50% down so far.