Share Name Share Symbol Market Type Share ISIN Share Description
Salvarx Group Plc LSE:SALV London Ordinary Share IM00BZ4SS228 ORD 2.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 4.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services -0.55 1.00 4.5 2
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 4.50 GBX

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Salvarx Daily Update: Salvarx Group Plc is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker SALV. The last closing price for Salvarx was 4.50p.
Salvarx Group Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 36,527,182 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Salvarx Group Plc is £1,643,723.19.
the stigologist: $100 translates to a Mkt Cap of c.$1bn which is below the average value of US quoted Clinical Stage Biotechs apparently Portage is better than your average biotech IMO so I expect the Company to list at around $100 and go up from there. Apparently someone has been in email contact with Jim Mellon re SALV and there are things going on. Much more promising talk that I'd have expected given SALV would be such a small part of Mellon's empire. Clearly has plans for it.
mellonsbellend: Just done a search of this bb and with the current price of Portage it will be worth around 30p per salvarx share less expenses ( for absolutely nothing ). It’s been so long since they last said they hoped to have a deal confirmed. Maybe just wind it up.
bscuit: There were 60.8M Portage shares now consolidated at 608,000 valued @$US23 plus any cash value from warrants held by SALV, though I don’t know number of shares in issue. Curiously I cannot find SALV on CH Webcheck to check shares in issue. Company maintenance costs will have had to be paid - presumably from share sales. The Listing has now no value in my opinion as it was an AiM company.
cumbrian2: Unless SALV have disposed of their Portage shares, I believe they still own 566,575 shares which would equate to $9.77 million @ 17.25 mid price currently. This would equate to 19.5p per old SALV share. I still own 334,762 of the old SALV shares so am hoping for dome news from them in the not too distant future! Just hoping they haven't sold many of their Portage shares in order to ''cover expenses'' and shafted the shareholders - heres hoping! Still hold 10,000 PTGEF shares from SALV days, so currently very happy, hoping foe news to make me ''ecstatic''!!!!
the stigologist: Portage Biotech Inc. (CSE: PBT.U) (OTC Pink: PTGEF) (“Portage̶1; or the “Company”;) wishes to announce that it has issued 375,014 common shares at a deemed price of US$6.64 per common share and 72,291 common share purchase warrants exercisable at a price of $6.64 per common share for a period of 2 years (collectively, the “Settlement Securities”) to settle approximately US$4.4 million of certain debt obligations and equity entitlements (the “Loan Notes”) of the Company’s wholly-owned subsidiary, SalvaRx Limited (“SalvaRx̶1;). The Loan Notes were originally issued in 2017. At that time, SalvaRx was a subsidiary of SalvaRx Group plc, a publicly listed company on the AIM board of the London Stock Exchange. Under the terms of the Loan Notes, upon the occurrence of a qualifying event, Loan Note holders would have been entitled to receive share purchase warrants of SalvaRx in addition to repayment of their Loan Note. The acquisition of SalvaRx by the Company in 2019 constituted a qualifying event. The Company has settled the Loan Note obligations of SalvaRx through the issuance of the Settlement Securities. Four of the Company’s directors, Gregory Bailey, James Mellon, Steven Mintz (in trust) and Kam Shah have received an aggregate of 363,718 common shares as they had all originally subscribed for Loan Notes in 2017 in an aggregate principal amount of approximately US$4.0 million. The issuance of the common shares to these directors is considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on appropriate exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in respect of these issuances. Dr. Ian Walters, CEO of Portage, commented, “As a result of this transaction, the Company’s capital structure is simpler and effectively debt free, providing significant financial flexibility to further fund and expand development of innovative drugs to help cancer patients.” All Common Shares issued in connection with the Offering are subject to a minimum statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Common Shares issued in connection with the Offering have not been registered under the U.S. Securities Act of 1933, as amended (the “Act”), and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
bscuit: Anyone else got a similar problem? Originally I retained my rump SALV shares and in retrospect should have sold at 20p, but sold prior to the end of the tax year at 9p. Because they were subscribed shares. I could in theory set any loss against Income Tax using Subscribed Share Income Tax Loss Relief, but I have retained myPortage shares. In the context of completion of my tax return, my accountant advises that he requires the split in value of my original holding between SALV and Portage immediately following the de-merger. I contacted share price Angel – successors to Northland, who advised that immediately following approval of the De-merger, the SALV price was 75.5p and that Portage was trading atCAN$0.115, meaning that each SALV share pre-demerger was worth CAN$2.07 plus the rump value. The information from share price Angel is in my view flawed as the 75.5p included the about to be de-merged value in Portage. There should be a de-merger value on both shares. I that my accountant will not accept that the value of my SALV shares is showing a significant loss on original subscription price when I have an asset which I have retained. Any thoughts? In my opinion that has been a failure by SALV and its advisers to inform shareholders of the split in value in a fractional as opposed to pounds and p pennies in order for the calculation of the loss on the original holding – if any – or any fractional gain.
dexdringle: Given that the rump of the Portage shares are the only SALV asset now, should we not be expecting ths SALV share price to move broadly in line with the Portage share price ?
dexdringle: Okay. Just to re-cap. SALV will become the owner of 757M Portage shares in exchange for signing over its trading business to Portage. SALV then becomes an investment business SALV then plans to simply pass on 90% the Portage shares to its own shareholders so we will end up each owning X number of shares in Portage (plus our existing SALV shares albeit probably around 10p a share at that point reflecting the value of the Portage shares not distributed). Questions: 1. how long is it likely to be before the distribution takes place ? 2. how simple is it for a UK shareholder to directly own (and trade) shares in Portage ? Presumably, the SALV share price will, from today, exactly reflect the value of the Portage shares and could be sold before the distribution happens ? EDIT: just noticed the SALV share price has dropped to 10p so already prices in the distribution ?
cumbrian2: Agreed Stig, but probably best to use the latest offer price which was $0.105 but that still gives a GBP1.49 conversion. My concern was that Portage would open very weakly yesterday which was not the case, so assuming they hold the current level then the arbitrage has to kick in big time as we head to completion date. Adding in, that we retain the SALV shell(which may get a Juvinescence investment?), and that the said shell retains some Portage shares then the SALV share price looks ''too good to be true'' but looks like it actually is!!! Thankfully own 144k shares, all bought after the original deal (based on my view on Intensity) so averaging 67p but hopeful of a big profit to come! Got to be heading higher on Monday.
dexdringle: Okay, I'll do it then: 1. Salvarx Group (the company in which we own shares) is selling its only asset, a 94% stake in Salvarex Limited (which in turn owns all of the sub assets), to Portage Biotech. 2. Portage Biotech is paying around £60 million Salvarx Limited by issuing new 757 million new shares thought to be worth around US 10 cents (8p) each. 3. On Monday, Salvarx Group had a market cap of around £17 million - so the £60 million bid value represents a 3.5x multiple (hence the 250% PREMIUM to the current price). 4. Immediately after the deal Salarx Group will own 757 million Portage shares (allegedly worth £60 million) and a bit of cash. Each Salvarx Group share would therefore be worth around £1.76. 5. Salvarx Group will then distribute 656 million (85%) of the portage shares to Salvarx Group shareholders at a rate of around 18 for every 1 Salvarx Group share they own. 6. Salvarx Group will then be a shell company which has a bit of cash and, inexplicably, a retained holding of 60 million Portage shares worth around £5 million. So, the old Salvarx Group in which we will continue to own the same number of shares should have a value of around 15p a share. Questions: a) If the deal makes each Salvarx share worth £1.91 (points 4 and 6 above), why are they now trading at 65p? b) If the Salvarx Limited assets are so valuable why is Salvarx Group selling? c) Why are Portage not simply launching a takeover for the whole Salvarx Group at, say, 80p a share rather than buying a sub asset for twice that amount? d) Why does Salvarx Group not simply hold on to the 757 million Portage shares like it did the Salvarx Limited shares? e) What are the chances of Portage shareholders voting for a massive dilution so they can, on the face of it, massively overpay for a ‘pie in the sky’ British asset? f) Why on earth would I want to hold shares in a penny share biotech business listed in Canada? Something is not right here……….
Salvarx share price data is direct from the London Stock Exchange
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