Reneuron Share Discussion Threads

[luckyabbeygale] 03/9/2024 09:13

By the looks of it my shares will remain listed in my spreadbet and cfd account.

[luckyabbeygale] 02/9/2024 07:22

At least ig are keeping the last trading price for Rene. As it not taken the loss out on the cfds but already has months ago with the spread bets.

[luckyabbeygale] 30/8/2024 10:06

Surely ig be giving money back instead of putting rene as 0 next Monday. As the law states that bets are protected from this sort of thing.

[terminator101] 30/8/2024 06:42

Oh dear. Not so good huh gerbils.

[luckyabbeygale] 30/8/2024 06:27

That should mean spreadbets and cfds should be entitled to something back too.

[thiopia] 30/8/2024 06:25

On the assumption that the Joint Administrators can secure documented agreements with the key outstanding creditors, the Board intends to exit administration as private company. Post administration, the Company proposes to continue with a small team lead by Iain Ross and Randolph Corteling and will have sufficient cash to exploit and potentially commercialise specific unencumbered research assets, intellectual property and existing licences to form the basis of a standalone development and licensing business and thereby create an immediate increase in shareholder value and ultimately help to secure an exit for the business.

[luckyabbeygale] 30/8/2024 06:20

I do not understand how they taken out all the money for Rene from my spreadbet account in advance. When the law covers you if the share goes to 0.

[thiopia] 02/8/2024 22:28

Pretty sure there was more than enough cash to pay the creditors so what is today's RNS about ? Sounds like disaffected employees/Directors wanting more than they are entitled to or worth ?

Fingers crossed they can get this re-capitalised and back on the road.

[luckyabbeygale] 23/7/2024 07:36

I have these on my spread bet account so it be the last price will count since it is limited risk.

Otherwise it will be taken from my Oriole funds and then I will be going to the FCA.

[the drewster] 23/7/2024 07:31

I think you have to write this off, the administrators will be eyeing up whatever they have visibility of coming in so that they can up their fees to absorb it. I'd be chuffed to bits to be proven wrong, but these things have a habit of ending badly for everyone except the old directors, and the administration company.

[digger2779] 17/6/2024 22:51

It's a bit complicated for me but it would be great if something could be salvaged here.

[thiopia] 17/6/2024 19:52

£2m cash + a potential £1m claim on IP milestone gives almost 5p a share of Net Asset Value per Share ?

Will be interesting what price the Cornerstone Investor will want though.

[thiopia] 17/6/2024 08:47

So they seem to be pursuing Business Plan 2.0 and have discussions ongoing with potential Cornerstone investors.

In parallel if that doesn't work they are running a sale/disposal strategy and have prepared a 'teaser' document sent out to 749 !!! potential interested parties I think i'm reading that right. (Page 10)

[thiopia] 17/6/2024 08:37

Creditors approved Administrators proposals

[thiopia] 21/5/2024 08:14

Given the

1. Cash

2. Tax loss shield

3. IP

one would hope there is something salvageable and even maintaining the listing as a Going Concern the remaining Shell could be used as a RTO vehicle perhaps or just remain listed with a minimal overhead base just to collect any future milestones/royalties ?

[thiopia] 21/5/2024 08:11

davey50

Posts: 3,549

Price: 3.275

No Opinion

RE: Lets face it. 17 May 2024 13:12

That amount is more than current market cap, minus fees and lots taking a slice but there surely must be a return here and a decent % of the current valuation the shares were suspended at

Cash at Bank

RGP held a number of bank accounts and the Joint Administrators have realised £1,956,529.70 in this regard. This figure includes a balance held in USD, which has been converted to GBP using Bank of England rates as at the date of Administration.

[thiopia] 21/5/2024 08:09

davey50

Posts: 3,549

Price: 3.275

No Opinion

RE: Lets face it. 17 May 2024 13:22

Firesale the assets left, which might cover the fees then that leaves cash around the current market cap so anybody who bought in below 4p might see a good % of their money back, everybody else however, but sometimes when you have accepted something is worth nothing getting something back feels like a bonus.

[thiopia] 21/5/2024 08:06

Some discussion re proposals from A.N.Other BB


PhilBanks

Posts: 669

Price: 3.275

No Opinion

RE: Lets face it. 17 May 2024 16:06

£1m hRPC milestone figure mentioned in there, which is interesting. What happens if the company is dissolved, and fosun take hRPC to market? Are those future milestones and any royalties ever payable at that point, in the unlikely event it does get to market?

'A licence agreement with a third party has given rise to a claim of £1,000,000 in relation to a payment for achieving an hRPC milestone. The estimated-to-realise value is given as £900,000, to account for tax that make become due upon receipt of payment. The Joint Administrators are currently assessing this position and intend to shortly commence action to recover any valid amounts due'

[thiopia] 20/5/2024 21:07

17 May 2024



ReNeuron Group plc

("ReNeuron" or the "Company")



Publication of Joint Administrators' Proposals



ReNeuron Group plc (in administration) (AIM: RENE), a UK based leader in stem cell derived exosome technologies, announces that Mark Smith and Stephen Cork of Cork Gully LLP, joint administrators of the Company and of its subsidiaries, ReNeuron Limited, ReNeuron (UK) Limited ReNeuron Holdings Limited (together the "Group") (all in administration) have issued their statement of proposals to the members and creditors of the Group in accordance with the Insolvency Act 1986 and the Insolvency Rules (the "Proposals").

The contents of the main body of the Proposals (without appendices) are set out below without material amendment. A hard copy of the Proposals, including appendices, can be obtained upon request by contacting the joint administrators using the details noted below.


Purpose of the Administrations

The purpose of the Administrations is to, in the first instance, rescue the Group as a going concern.

Should the above not be achievable, the Joint Administrators will seek to achieve a better result for the Company's creditors as a whole than would be likely if the Group were wound up (without first being in Administration).

Should both of the above objectives fail, the Joint Administrators will take steps to realise assets in order to make a distribution to one or more preferential creditors.


Joint Administrators' strategy


The Joint Administrators are progressing negotiations with investor(s) to allow for continuity of the Group's operations. Alternatively, an acquisition of all or part of the Group, or its business and/or assets, is also being explored. The Joint Administrators have sought to preserve value for a prospective investor or purchaser by retaining key employees and ensuring the continuation of critical services.

[nigelpm] 09/5/2024 18:50

Who knows - doing their darndest I'm sure but unlikely to be enough for shareholders.

[thiopia] 09/5/2024 17:20

from 5th February statement

The Group also noted in the Interim Results that as at 30 September 2023, the Group had cash, cash equivalents and bank deposits of £5.1 million and that the Group's latest internal projections (assuming no new revenues or funding) meant there was a cash runway to April 2024, ahead of which point further revenues and/or a capital injection would be required.

£5m cash as of 30th September

Cash Runway to April 2024 (I'd guess they had 3 months cash left) so cash burn of c.£0.7m a month ?

If they managed to place the Operating Companies into administrations maybe there is some cash left over after meeting Liabilities and perhaps enough to justify the Company continuing in a solvent manner whilst disposing of any assets over a more extended period without the need for complete fire-sale ?

Given the Company had spent c.£100m on its IP over the years one would hope something is salvageable or resuscitatable ?

[nigelpm] 08/5/2024 11:15

Update could have been worse but I wouldn't hold much hope

[small crow] 08/5/2024 11:12

As a shareholder, I'll add further equity if the targets and the terms are right. Exosomes have a bright future.

[thiopia] 08/5/2024 06:43

Since the commencement of administration process, the Joint Administrators, alongside the Board of the Company, have been assessing a number of possible options, including the possible recapitalisation of the business by way of an equity fundraise, as well as the potential sale of the operating subsidiary of the Group or its assets on a piecemeal basis.



The Board has prepared a revised business plan which would enable the Group to continue to progress the development of its exosome platform on a lower cost base should it be able to secure an equity fundraise. As part of this, and in order to preserve value for creditors, the Joint Administrators are undertaking a cost rationalisation which has included, inter alia, the redundancy of several of the Group's employees as well as other cost cutting measures. Certain members of key Senior Management, including Iain Ross (Executive Chairman) and Randolph Corteling (Chief Scientific Officer) have remained with the business and continue to support the administrators.

A further update on the Administration Process will be made when appropriate.

[small crow] 21/3/2024 10:36

"Class - yer can't buy it" Paul Calf