||EPS - Basic
||Market Cap (m)
|Pharmaceuticals & Biotechnology
Reliance Genemedix Share Discussion Threads
Showing 601 to 615 of 625 messages
|whats happened here?normally there would be rampers all over a rise like this.
seems to of gone unnoticed....|
|vertical, perhaps due to the warrant conversion at 12.5p, although that gives tha majority shareholder 79%.....
|Anyone know the latest on this?|
|40,000 shares bought or sold today.|
|has this really got 9 mill cash yet mcap below that.|
|Don't know enough about the company wiganer. You shorting it?
Good Wigan URL
|Looks a cracking short for anyone who goes in for that kind of thing vols.
Compare the current price with the placing price.|
|Dis has did well good today.|
|Why is this company cap'd @£14million, is it april 1st, on my calc the share price should be 1/2p...any thoughts?|
|Full time results Friday. share price will add a bit I believe but a safe holding to offset CGT.|
|I only hold to offset CGT. lol. 30p soon|
|Post removed by ADVFN|
13 October 2005
FOR IMMEDIATE RELEASE 13 October 2005
Sale of Chinese Facility, Convertible Loan Funding
GeneMedix plc ("GeneMedix" or "the Company"), the UK biopharmaceutical company
with operations in Europe and Asia and with joint London and Singapore Stock
Exchange listings, announces that, as part of its recently announced
restructuring, it has signed a binding letter of intent for the sale of its
Chinese facility and has entered into a related party transaction to bring in
additional financing to the business.
The £500,000 financing will contribute to the Company's immediate funding
requirements, and the sale of the Chinese facility, after payment of all debt,
will provide approximately £1.6 million in early 2006. If the Company is to
continue to pursue it EPO programme at its current rate, additional financing
will be required over the coming months. The Board of Directors plans to access
this additional funding from the restructuring process.
The Chinese facility has not been part of the Company's core activities for some
time and the funding of the sale will occur upon receipt of Chinese government
In the financing, GeneMedix placed a convertible loan of £500,000 with its
founder and Chairman, Dr Kim Tan. These loan notes are convertible into between
11.8 and 13.1 million shares of the Company's shares when the Company completes
its next share offering. To facilitate the financing of this convertible loan, a
trust holding certain of Dr Kim Tan's shares in GeneMedix disposed of 18,567,397
GeneMedix shares at a price of 2.8p in a private placing with a non-connected
Julian Attfield, Acting Chief Executive Officer of GeneMedix commented:
"We are delighted that our restructuring efforts have begun in such a positive
manner. The cash proceeds from the sale of the Chinese facility will be welcome
in meeting our cash requirements in early 2006. We are also grateful to Dr Tan
for his continued financial support for the Company which allows us more time to
advance the current financing and corporate activities whilst continuing at full
speed with our development activities."
Notification of these transactions has been made today in accordance with
Disclosure Rule 3.1.4R(1)(a) of the Disclosure Rules sourcebook. Following this
transaction, Dr Kim Tan has a total actual beneficial interest in 128,786,159
ordinary shares, representing 34.7% of the enlarged share capital of the
Company, but this will increase to a maximum of 141,858,054 ordinary shares
representing 36.9% of the enlarged share capital of the Company, once the loan
notes have been converted. Mr J Attfield, Acting CEO of GeneMedix, is the duly
authorised officer of the Company responsible for making the notification.
|Just read it. Don't see a problem do you?|
|How about the announcement now ?|