Salvarx Takeover Rumours (SALV)

Mellon and Bailey only take a token £10k per year. And there is only one other director. They have stated the costs are next to nothing to run as it’s only a holding company all they have is a bunch of portage shares. Currently worth just over 12p to each salvarx share. As far as winding the company up. It’s not as though it’s a large complicated business. It could be wound up in 10 minutes for around £500 to delist and log it at company house. The holding shares could be sold in no time at all. But why would they do that ??? Even an Aim listing is worth around £500k as that is the current cost for a company to list on aim and that’s with several months wait . To any company that is going to list. I see it as coming back with a reverse takeover with one of Mellon’s many interests. He has majority share holdings in over 20 unlisted companies. A couple of these he has quoted as saying will list this year.

From results RNS on 28/6. The disposal and the demerger resulted in the divestment of substantially all of the Company's existing business, assets and investments. As such, the Company is now classified as an AIM Rule 15 cash shell and is required to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 (or seek re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from completion of the disposal and the demerger (namely 9 July 2019). Failing which, the Ordinary Shares will be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM will be cancelled six months from the date of suspension should the reason for the suspension not have been rectified.