Share Name Share Symbol Market Type Share ISIN Share Description
Summit Therapeutics Plc LSE:SUMM London Ordinary Share GB00BN40HZ01 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 20.50 18.00 23.00 20.50 19.00 20.50 603,690 11:00:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 43.1 5.0 9.2 2.2 69

Summit Therapeutics Share Discussion Threads

Showing 41526 to 41550 of 41550 messages
Chat Pages: 1662  1661  1660  1659  1658  1657  1656  1655  1654  1653  1652  1651  Older
DateSubjectAuthorDiscuss
21/2/2020
13:26
Read the rns: Takeover code waiver "The Fundraising is not being underwritten and is conditional (amongst other things) upon the passing by the Company's shareholders ("Shareholders") of a resolution to approve a waiver (the "Rule 9 Waiver"), which has been granted by the Takeover Panel, of certain obligations that would otherwise arise on Mr Duggan in connection with the Subscription pursuant to rule 9 of the City Code on Takeovers and Mergers (the "City Code"). " Substantial holdings - Placing and warrants at 10% above placing price. "Robert W. Duggan is a substantial Shareholder and Glyn Edwards is a director of the Company. Both Mr Duggan and Mr Edwards are therefore related parties pursuant to the AIM Rules. Mr Duggan's participation in the Subscription and Mr Edwards' participation in the Placing, by way of subscription for 452,475 Placing Shares and receipt of 67,870 Investor Warrants, are deemed to be related party transactions (the "Related Party Transactions"). " Takeover waiver no longer applies from 24th Feb " The Takeover Panel has confirmed that the Company will remain subject to the Code until such time as both (1) the proposed Board Restructuring has occurred, resulting in the Company's place of central management and control no longer being in the United Kingdom, Channel Islands and Isle of Man and (2) the Company's shares are no longer admitted to trading on AIM. Subject inter alia to the Cancellation Resolution being approved, it is expected that the Company will no longer be subject to the Code from 24 February 2020. " " For so long as both the Company's place of central management and control is outside the United Kingdom, Channel Islands and Isle of Man and the Company's shares are not traded on a regulated market or multilateral trading facility in the UK, the Code will not apply to the Company. Therefore in those circumstances Shareholders would not receive the protections afforded by the Code in the event there is a subsequent offer to acquire their shares in the Company." The placing provides funding for 10months. "The Company's existing cash and funding arrangements will be sufficient to fund the Company's operating expenses, including the ongoing Phase 3 clinical trial of ridinilazole for the treatment of C. difficile infection, and capital expenditure requirements through to 31 January 2020. If approved and completed, the Company expects that the Fundraising will extend this runway by approximately 12 months to 31 January 2021. " https://uk.advfn.com/stock-market/london/summit-therapeutics-SUMM/share-news/Summit-Therapeutics-plc-Summit-Announces-A-Propose/81299524 I think Mr Duggan will take over the company at around the current price within the next 12 months.
sikhthetech
21/2/2020
13:18
1gw, Why not state the problems you experienced with PIC? You went quiet when posters were discussing the difficulties they are facing with the conversion process, yet suggest it's going well for you... You were very keen to help on PIC when you were facing those conversion problems.. You're clearly trying to persuade anyone with concerns about the conversion that it's not an issue..
sikhthetech
21/2/2020
13:13
and you even stated 1gw1 Feb '16 - 16:28 - 49115 of 51636 0 0 0 Thanks STT. So what's the message here? That in future as private investors using low-cost internet brokers we have to plan on doing all the work ourselves - i.e. making sure that we ask the detailed operational questions of the brokers and making sure that the brokers are aware of what they need to do?
sikhthetech
21/2/2020
13:11
There you go, you see. "1gw bought at around 21-22p for arb trading." False statement. I did not buy "for arb trading". I documented my initial purchase in the post below. I actually bought on the UK exchange first because I thought the US listing might pop a bit on the back of the BARDA funding announcement released at noon that day. "his mate 'football' id" Trying to suggest, I think, that either I used to use that id, or that I'm somehow acting on his behalf. Both false. "Seems more like 1gw is trying to persuade others, with concerns about the conversion process, that it's not a problem." In fact in another post I referenced delays I'd had in another conversion and so was sceptical of HL's stated timetable for conversion. However, trying to scare holders that it's almost bound to be a really long and difficult process for those holding in nominee accounts is not fair either - the HL declared process is very simple, relatively quick and doesn't appear to require any medallion stamp (gold or otherwise). Whether they can deliver remains to be seen. I don't propose to give a detailed rebuttal of all future lies and misdirections from sikhthetech - it would be very tedious for other posters. But worth setting the scene I thought. ------------------------------------- 23 Jan '20 - 14:09 - 25411 of 25501 Edit 0 1 1 I bought some here as well. With $50m from the fundraising and another $9m funding from today's RNS, they must be trading close to cash even without any other cash on hand or unused BARDA funding mustn't they? Difficult to buy much though and doesn't seem to move the bid, just the offer. Maybe better just to buy the ADR's when the US opens, but I was hoping it would be worth someone's while to arbitrage and keep the prices in line ahead of delisting. [Edit: around $100m market cap I suppose, based on 335m shares and an ADR price of $1.53 (5 shares), so above the cash I identified above - but don't know how much other cash/funding is already available.]
1gw
21/2/2020
13:10
1gw, On PIC... How many weeks were our shares in limbo and not tradeable whilst the brokers, inc HL, took their time to convert PIC shares... https://uk.advfn.com/cmn/fbb/thread.php3?id=10876668&from=49114#firstpost It was several weeks and you even complained to HL. 1gw1 Feb '16 - 13:15 - 49108 of 51636 0 1 0 FWIW I've just sent the following off to HL: "It is now 1st February and Arris International plc shares have been trading since 5th January, yet I am still unable to trade the Arris International shares due to me as a result of the Pace plc shares held in my Hargreaves Lansdown SIPP and have been shut out of the market during a volatile period. Please can you let me know the date on which Hargreaves Lansdown submitted the completed election form to instruct CTCNA (Computershare Trust NA) as exchange agent to transfer the book entry interests it held in respect of HL's Arris International shares to the DTC account of the DTC participant nominated by Hargreaves Lansdown? (Reference: Page 38 of Pace plc Scheme Circular, published 25th September 2015) I fail to see how the shares could not have been available for trading on or very shortly after the 5th January if Hargreaves Lansdown completed and submitted this form in a timely manner." When I phoned them up, weeks after US started trading, they said it was submitted yet sikhthetech1 Feb '16 - 16:14 - 49114 of 51636 Edit 0 1 0 1gw and anyone else with HL account.. I've just spoken to Corporate Actions asking about when they submitted the form.... The guy said it hasn't been submitted YET, they need to get the Medallion Stamp and are waiting for HSBC to confirm if they will provide it... It's likely to be another couple weeks.. What a pathetic situation...
sikhthetech
21/2/2020
12:58
1gw, "He appears to have no interests in the merits of the investment, " Rubbish. Look at my posts on SMMT. The comments from the rns show clearly Mr Duggan is taking a majority holding and has warrant at 10% above placing price, so can easily take over the company. The placing rns also shows that the company only has funding for 10 months. Just like I posted contrarian views on Byot, another one you are pumping and now dumping... I posted on here about the difficulties people might face during the conversion.... including links to PIC, a share where we both went through the headaches of the conversion... You on the other hand are trying to convince everyone that it's going through fine...
sikhthetech
21/2/2020
12:52
"Why would you not buy on the U.K. line at 19-20p" 1gw bought at around 21-22p for arb trading. 1gw's buy price is not much different from current price.. However, his mate 'football' id held when the share price was around 200p but has disappeared... Seems more like 1gw is trying to persuade others, with concerns about the conversion process, that it's not a problem. ;-) 1gw - 06 Feb 2020 - 08:09:33 - 25456 of 25501 Summit - Climbing to new heights - SUMM So having bought into the UK and Nasdaq versions at about the same time, and actually having paid slightly more for the Nasdaq one, my portfolio is now showing +5% on the Nasdaq holding and -10% on the UK holding. Where are the arb players? 1gw - 23 Jan 2020 - 15:24:03 - 25412 of 25501 Summit - Climbing to new heights - SUMM And bought some ADRs as well. Ended up paying 24p/share equivalent for the ADRs ($1.54 per ADR plus dealing/xrate), so above the price I bought the UK shares at, but don't have a 24th Feb deadline to get rid of them if I don't like the exchange process.
sikhthetech
21/2/2020
12:39
kirk 6 - definitely a few raisins short I'm afraid. sikhthetech is trolling me on several ADVFN boards. He seems to be convinced I'm up to no good and so follows me around making insinuations about who I might be acting with and how I might be trading. Favourite phrases appear to be along the lines of "you and your mates" and "the pump and dump gang". He appears to have no interests in the merits of the investment, just looking for an angle to wind me up (and anyone he thinks might be acting with me or hostile to him). Apologies for any resulting thread disruption over here.
1gw
21/2/2020
12:03
*print - profit
kirk 6
21/2/2020
12:03
Are you all there or a few raisins short of a complete cake?Why would you not buy on the U.K. line at 19-20p, ride the conversion and your shares will be worth 22p equivalent on the Nasdaq. Not only that once the lse line shut tonight the downward pressure comprised of forced selling on the U.K. market will be gone and the likelyhood is the Nasdaq can then lift off. I have a big buy order at 19p currently soaking sells up. I expect to make a huge print from the Nasdaq SMMT over the coming months
kirk 6
21/2/2020
11:39
1gw, You're apparently a recent holder here, only bought last month. Given you've had major headaches in the past with PIC's, UK to US conversions and there's hardly any difference between SMMT's UK & US price and you already ADRs, why would you bother going through the conversion headache again??? I can understand long term holders but not a new holder when there's so little difference in the UK & US price. btw, where is your mate, the 'football' id, who was a long term holder and was holding when the share price was nearer to 200p?
sikhthetech
21/2/2020
09:03
Summ UK holding now showing as "assented conversion line" in HL. So far, so good.
1gw
19/2/2020
12:13
1gw, "nice to see it jump on nasdaq tonight. Hope that's a good omen." That wasn't you buying some on Nasdaq to move the sp, was it?
sikhthetech
18/2/2020
22:15
Waterloo, re your post 25490 I am NOT exiting, maybe I phrased it badly. I am still in with the ADS shares.See you at the AGMs
algernon2
18/2/2020
22:05
Current equivalent share price already over 24p. Reckon we will be flying over $2 next week
kirk 6
18/2/2020
21:42
Hi All - Good to see many moving over to the NASDAQ I have just gone onto my Interactive Investor account & yes waterloo01 I now have 10,200 ADD's the conversion has today taken place but no value attributed to the share price currently in £'s.I now have two lines 1) Converted AIM shares to ADD'S 2) A few ADD's that I have bought direct.Yet to find out how this will work. I hope things go well for you freedosh you will be missed. With regards AGM's I have spoken to Summit its not clear if it will be US or a UK venue eventually I guess US.
chrisatrdg
18/2/2020
21:38
It should do as all the selling pressure has been in the UK. Now that's cleared, it leaves SMMT to trade on it's own merits. Time will tell, but sorry to to see such respected posters as freedosh and algernon exit. Will miss the insight and sense of joint enterprise. ce la vie
waterloo01
18/2/2020
21:32
Yes, nice to see it jump on nasdaq tonight. Hope that's a good omen.
1gw
18/2/2020
21:00
And with all those positive posts it's good night SUMM, and hello SMMT.
waterloo01
18/2/2020
20:12
Read the rns: Takeover code waiver "The Fundraising is not being underwritten and is conditional (amongst other things) upon the passing by the Company's shareholders ("Shareholders") of a resolution to approve a waiver (the "Rule 9 Waiver"), which has been granted by the Takeover Panel, of certain obligations that would otherwise arise on Mr Duggan in connection with the Subscription pursuant to rule 9 of the City Code on Takeovers and Mergers (the "City Code"). " Substantial holdings - Placing and warrants at 10% above placing price. "Robert W. Duggan is a substantial Shareholder and Glyn Edwards is a director of the Company. Both Mr Duggan and Mr Edwards are therefore related parties pursuant to the AIM Rules. Mr Duggan's participation in the Subscription and Mr Edwards' participation in the Placing, by way of subscription for 452,475 Placing Shares and receipt of 67,870 Investor Warrants, are deemed to be related party transactions (the "Related Party Transactions"). " Takeover waiver no longer applies from 24th Feb " The Takeover Panel has confirmed that the Company will remain subject to the Code until such time as both (1) the proposed Board Restructuring has occurred, resulting in the Company's place of central management and control no longer being in the United Kingdom, Channel Islands and Isle of Man and (2) the Company's shares are no longer admitted to trading on AIM. Subject inter alia to the Cancellation Resolution being approved, it is expected that the Company will no longer be subject to the Code from 24 February 2020. " " For so long as both the Company's place of central management and control is outside the United Kingdom, Channel Islands and Isle of Man and the Company's shares are not traded on a regulated market or multilateral trading facility in the UK, the Code will not apply to the Company. Therefore in those circumstances Shareholders would not receive the protections afforded by the Code in the event there is a subsequent offer to acquire their shares in the Company." The placing provides funding for 10months. "The Company's existing cash and funding arrangements will be sufficient to fund the Company's operating expenses, including the ongoing Phase 3 clinical trial of ridinilazole for the treatment of C. difficile infection, and capital expenditure requirements through to 31 January 2020. If approved and completed, the Company expects that the Fundraising will extend this runway by approximately 12 months to 31 January 2021. " https://uk.advfn.com/stock-market/london/summit-therapeutics-SUMM/share-news/Summit-Therapeutics-plc-Summit-Announces-A-Propose/81299524 I think Mr Duggan will take over the company at around the current price within the next 12 months.
sikhthetech
18/2/2020
20:08
SMMT on Nasdaq is very volatile - dipped below $1.3 and peaked as high as $1.76 over the past 3 weeks. Swung down to $1.42 early today and currently $1.62...
metis20
18/2/2020
20:03
Personally I think the best is yet to come...two views make markets..good luck to us all and hopefully nobody has so much invested that it will hurt too much if we are wrong making the decision to stick with it.
hernando2
18/2/2020
19:59
I'm out too. After all these years I have little confidence that this business is going to come good, but for those of you who believe otherwise, I hope it does. Good luck!
poseidon2
18/2/2020
19:36
Fair well freedosh. Antibiotics finally done you in.
waterloo01
18/2/2020
19:33
Good luck Freedosh.
algernon2
Chat Pages: 1662  1661  1660  1659  1658  1657  1656  1655  1654  1653  1652  1651  Older
Your Recent History
LSE
SUMM
Summit The..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200221 16:58:51