Redx Pharma Share Discussion Threads

[shaker44] 21/5/2020 06:12

Had a fast reply from Redx who pointed me at para 13 of the Redmile letter (in the offer documents), in outline saying that they are entitled to purchase all remaing shares at the offer price of 15.5p but dont intend to.
They intend to raise further funds for Redx development and may sell some of their shares to members of any financing consortium. Meantime they will maintain the aim quote unless they are prevented in which case they will seek some alternative trading platform.

So I will sit tight, fingers crossed until some newsflow appears later.

[shaker44] 20/5/2020 12:00

Yeah they asked me a while back. Decided to wait and see if a higher off cane and with all this covid stuff, overlooked the deadline. My bad

[battlebus2] 20/5/2020 10:46

Similarly here, both asked one in email and one in a letter.

[eezymunny] 20/5/2020 10:43

nilla159 your stockbroker should have asked you whether you wished to accept the offer IMO. If they didn't you have cause to complain IMO. This should be basic stuff for their corporate actions department IMO. I held REDX with 2 brokers, both asked.

[shaker44] 20/5/2020 10:01

Their stated intention is to introduce other shareholders. I don't understand?

I am also a reluctant holder who missed the deadline. I am unsure where buyers will come from now but I suppose I may as well lock them away for the long term and see what happens. If they are paying to keep the aim quote maybe they plan a fund raise at some point.

[pejaten] 20/5/2020 07:14

They were reluctant to make an offer in the first place. It was only when a competing offer was made at 15p were they forced to make 15.5p offer. Their stated intention is to introduce other shareholders

[nilla159] 19/5/2020 17:17

Hi bb2, thanks for answering my query.
Yes you are correct I remain a shareholder unfortunately, not what I wanted - this will teach me to read more thoroughly etc.
I can't think why they would not want to buy all the stock making it a clean deal.

[battlebus2] 19/5/2020 14:53

As far as I know the listing isn't being cancelled immediately and yes we have got our payments mostly last Friday. Also as far as I know you had to accept their offer if not you still remain a shareholder i'm afraid..

[nilla159] 19/5/2020 10:59

Hi has anybody had payment for their shares?
I am with Barclays Stockbrokers and they have elected to not accept the offer on my behalf.I never asked them to or otherwise, I did think no action was required from shareholders as it was a done deal, and that they would automatically cancel the listing etc.
Can anybody help.

[pejaten] 05/5/2020 18:06

Interesting that they have decided to keep the quote if at all possible.

[mrx001] 01/5/2020 10:52

Yes I saw that in the offer document. Saw that they had taken the shares from my account a few days ago.

[pejaten] 01/5/2020 05:19

Offer document says within 14 calendar days of the April 30 closing date

[mark1000] 28/4/2020 08:04

Many thanks your reply

[thefartingcommie] 27/4/2020 12:20

re...Any idea when in May we will get the cash?

May 17th,as I understand....

[mark1000] 27/4/2020 12:12

Any idea when in May we will get the cash?

[battlebus2] 14/3/2020 19:26

Not likely as Redmile have over 40% of the stock /votes...

[igoe104] 14/3/2020 15:41

If could get interesting if Yesod Bio-Sciences Limited come back with a increased bid. I bidding war would be nice....

[thefartingcommie] 14/3/2020 09:45

Redx Pharma set to be bought by US investment group

UK biotech firm Redx Pharma (AIM: REDX) has a new majority shareholder, investment group Redmile, after the USA-based company bought up nearly 40% of the company, bringing its total shareholding to over 45%.

Under takeover rules, Redmile must now make a cash offer for any remaining shares at the same price, of 15.5p ($0.20), valuing the company at around £29,45 million.

UK biotech firm Redx Pharma (AIM: REDX) has a new majority shareholder, investment group Redmile, after the USA-based company bought up nearly 40% of the company, bringing its total shareholding to over 45%.

Under takeover rules, Redmile must now make a cash offer for any remaining shares at the same price, of 15.5p ($0.20).

Redx said that it would recommend unanimously to shareholders that the offer be accepted.

[dplewis1] 14/3/2020 08:15

Do not click that link - doesn't take you to a times article just a spam site.

[inthemix] 13/3/2020 23:09

You need a shorting account in days like this.

[iamgreat1] 13/3/2020 16:20

Pointless buying this now

[matt123d] 13/3/2020 13:14

This is the best market for years. Numerous stocks have moved more than 10% this morning alone!

[matt123d] 13/3/2020 12:20

Better opportunities out there for the cash than sitting in here an unknown length of time for an offer that isn't guaranteed.