Skinbiotherapeutics Share Discussion Threads

[bobalot] 23/11/2017 15:42

Try reading the email I got from SBTX...they spell out the relationship between the two businesses irrespective of what other posters prefer to believe. That is their reality that they want others to follow.

I would not touch OPTI with a barge pole as it is on a path to just being a holding company for its cashed up spin offs. I understand all the business arrangements and clearly a few posters prefer their own skewed version to serve their motives.

Here is a copy of the SBTX email from the financial director...believe what he says and nothing else as being verbatim.

Thank you for your mail which Cath forwarded on. Your understanding is correct, Opti own 41% of the shares in SBTX which is below the 50% level required to be deemed a subsidiary. Technically Opti’s investment in SBTX is defined as an ‘associate undertaking’ and it carries its holding in SBTX as an investment on its balance sheet.
 
From a practical point of view Opti & SBTX are two separate and independent companies with separate management teams and boards. As you are probably aware, Stephen O’Hara (CEO of Opti) sits on the board of SBTX as an NED. All other directors at SBTX are independent of and have no involvement with Opti.  
 
What Opti may or may not do with its holding in SBTX in the future is not something we’re in a position to comment on.
 
I hope this is of some assistance.
 
Kind regards
 
Doug Quinn
CFO
SkinBioTherapeutics plc

[bobalot] 23/11/2017 13:43

elrico 23 Nov '17 - 13:33 - 936 of 936    0   0 (Filtered)

BYE, BYE...I STILL DON'T BELIEVE YOU...SO I WON'T BE READING YOUR POSTS.

And you are now in denial.

[elrico] 23/11/2017 13:33

Peeps - can we leave my name out of this debate now, please. It is patently obvious Bobalot is very green, nieve and now we can now see he cannot to be trusted to be honest in debate. He remains filtered because he adds nothing other than volume of useless traffic to this thread.

I gather I'm some sort of deceiver, a con artist and have my facts wrong. Be very careful Bob, one poster that used the "ripelrico" pseudonym has had his ADVFN account closed as well as his own, after he posted falsehoods about me. And yes, he had to pay my legal fee 1x letter to ADVFN.

For the record: SBTX is no longer a subsidiary of OPTI, SBTX is a separate legal entity of its own as a PLC. I never suggested SBTX is a subsidiary, had I done so I would have been wrong and would, once corrected would have been man enough to stand corrected, as I have been previously.

Ref controlling interest: OPTI could use its 41.9% shareholding to influence at a AGM. They don't currently have a controlling interest, but a majority holding, significant enough to influence over say anything Seneca wanted to the direction of SBTX should it have a need - (purely as an example).

SOH does not hold any SBTX shares that I am aware of, but you point (PG) is a valid one.

[slartybartfaster] 23/11/2017 12:58

Spot on PG. Someuwin please sensor the lies. You usually do.

[pglancy] 23/11/2017 12:27

How stupid can you be? I have looked through elrico posts and i cannot agree with you. Sure he mentions Sbtx as subsidiary before it was spun out, he is right he even gave you the definition. You chose to spin it another way. He is also correct when he said opti have a controlling interest in the strict legal terms. See link

Definition of controlling shareholder
LR 6.1.2AR16/05/2014
A "controlling shareholder" means any person who exercises or controls on their own or together with any person with whom they are acting in concert, 30% or more of the votes able to be cast on all or substantially all matters at general meetings of the company.

Also you could add soh share to that if he chose to hammer home control but that would be hostile and i dont think soh is the type of ned that would do thiss.

You need to be careful making defamatory comments about a person we all know the true intensity of, you cannot say you are committing libelous comments to a username when you know his real name and it is in the public domain. Im surprised someuwin has allowed to to posts lies as often as you have he is usually very good at sensoring liars. He should do the same with you or risk this bb being trashed.

[bobalot] 23/11/2017 12:03

FOR THE LAST TIME here is a reply I got yesterday from SBTX.

Thank you for your mail which Cath forwarded on. Your understanding is correct, Opti own 41% of the shares in SBTX which is below the 50% level required to be deemed a subsidiary. Technically Opti’s investment in SBTX is defined as an ‘associate undertaking’ and it carries its holding in SBTX as an investment on its balance sheet.
 
From a practical point of view Opti & SBTX are two separate and independent companies with separate management teams and boards. As you are probably aware, Stephen O’Hara (CEO of Opti) sits on the board of SBTX as an NED. All other directors at SBTX are independent of and have no involvement with Opti.  
 
What Opti may or may not do with its holding in SBTX in the future is not something we’re in a position to comment on.
 
I hope this is of some assistance.
 
Kind regards
 
Doug Quinn
CFO
SkinBioTherapeutics plc

[bobalot] 23/11/2017 12:00

Go look up Elrico's posts for the past week...he has made false statements quite often about SBTX saying it is a subsidiary.

OPTI do not have a controlling interest....that would require a 50%+ holding and OPTI only have 41% some of which they plan to give away according to an SOH interview.

What you have said above is misguided and technically wrong....in denial about reality imo.

Selling off a valuable asset such as a division depletes inherent value in OPTI -- they have done a debt for equity swap by converting their original investment into debt and then swapping the debt for shares.

OPTI will not benefit from an income stream from SBTX but they may benefit from an appreciating share price if that happens.

OPTI have no legal leverage over SBTX and SOH is simply a NED/ director advisor.

TAKE A LOOK AT THE FOLLOWING POSTS:

elrico 21 Nov '17 - 10:31 - 876 of 933    4   0

elrico 21 Nov '17 - 11:09 - 878 of 933    5   0

elrico 22 Nov '17 - 10:24 - 887 of 933    3   0

[incanus] 23/11/2017 11:14

He did so in terms prior to the ipo, you are deliberately twisting what elrico posted for your own motives. Do you imagine people will not see this a duplicitous? It shows you cannot be trusted because you are a liar, have no idea how the market works, no idea how a company can turn 560,000 into 11 million and retain 42% of that value and share this with opti investors. You dont understand opti have a controlling interest even now. We are still waiting for you to show us the post where elrico said sbtx is a sub of opti in its present form. Let us see it. You are a silly boy.

[1bokke] 23/11/2017 11:03

Bob look at what Opti paid for the IP and then look at their share value post IPO, how does that equate to depleted value? If Skins share price jumped to 50p( I'm not suggesting or ramping) what would Opti's shares be worth then? And please stop telling everyone that this is not the Opti thread, we know but a 41.9% stake does give some crossover I would suggest.

[bobalot] 23/11/2017 10:46

Spin-off's equate to depleted value in OPTI imo...little benefit for OPTI holders in the longer term.

[loungeact] 23/11/2017 10:35

It is far better in my view for PI's to invest in OPTI because their future potential is enormous and PI's will benefit from future spin-offs. :)

[bobalot] 23/11/2017 10:00

It is far better in my view for PI's to invest in the spin off businesses because there future potential is enormous as they get unhitched from OPTI.

[incanus] 23/11/2017 09:35

Then show us where elrico said sbtx is a sub of opti. He said it WAS not is. Now you are resorting to lies.

[loungeact] 23/11/2017 09:29

Bobby, you forgot to Start with a capital letter there. Just saying..

[bobalot] 23/11/2017 09:15

HE SAID IT WAS A SUBSIDIARY MANY TIMES.... The qualifying shareholding for a parent company is a 50% shareholding...OPTI have 41% of SBTX and are planning to give some of that away to OPTI LTH's.

[aspex] 23/11/2017 06:00

MY not be a subsidiary but 40+% is usually a controlling holding. All just my uninformed opinion.

[bobalot] 23/11/2017 04:28

Take another look at the email I got from SBTX and tell Elrico he is completely wrong in his analysis; people like myself deserve an apology.

Thank you for your mail which Cath forwarded on. Your understanding is correct, Opti own 41% of the shares in SBTX which is below the 50% level required to be deemed a subsidiary. Technically Opti’s investment in SBTX is defined as an ‘associate undertaking’ and it carries its holding in SBTX as an investment on its balance sheet.
 
From a practical point of view Opti & SBTX are two separate and independent companies with separate management teams and boards. As you are probably aware, Stephen O’Hara (CEO of Opti) sits on the board of SBTX as an NED. All other directors at SBTX are independent of and have no involvement with Opti.  
 
What Opti may or may not do with its holding in SBTX in the future is not something we’re in a position to comment on.
 
I hope this is of some assistance.
 
Kind regards
 
Doug Quinn

[bobalot] 23/11/2017 04:26

slartybartfaster 22 Nov '17 - 19:33 - 913 of 915    4   0 (Filtered)

Read what Elrico has been saying about SBTX being a subsidiary...so get your facts straight.

If OPTI don't develop more early stage divisions from University projects it will become a cash shell holding just stock in its four divisions. They are not going to be subsidiaries, unless there is a change of plan.


With SkinBio, OPTI have zero leverage and are merely influencers on the BoD without any legal rights. If the other proposed divisions follow the same model then OPTI becomes an investment entity that can be cashed out at any time. It would be a more convincing model if the pipeline of projects was growing but it looks more like the current projects are the only projects.

It is, in my view, better for PI's to invest in the spun out businesses. Because each time a division is off loaded onto the market OPTI actually losses about 60% of its inherent value.

[bobalot] 23/11/2017 04:16

You will be humbled if OPTI becomes an equivalent CASH SHELL once the four divisions have been spun out leaving the company with a stock pile of shares that can be cashed out at any time. DYOR

I LIVE IN A DIFFERENT TIME ZONE SO THIS MAY LOOK LIKE AN EARLY MORNING CALL FOR BRITS.

[pglancy] 22/11/2017 22:28

All i know is bobalot is going to look very humble when we get our sbtx shares for nothing. Will he have the courage to apologise?