Summit Therapeutics Share Discussion Threads

[someuwin] 11/12/2019 13:27

...Don't know why you're getting so hung up on the AIM listing? SUMM will do much better as a pure Nasdaq listed entity.

[hernando2] 11/12/2019 10:50

Well if the 1.80 holds across the pond, my extras today at under 23 seem good value

[hernando2] 10/12/2019 23:47

Nice a action after hours...

[chrisatrdg] 10/12/2019 22:46

I am going as much to hear about share conversion as the plan as I will want to Buy more on the NASDAQ.Interesting post close price I wonder if AIM will follow.

[waterloo01] 10/12/2019 22:09

It will be the last but not decided as yet. Xmas and all but I do have a question or two.

[algernon2] 10/12/2019 21:43

Is anyone thinking of going to the Summit General Meeting on 23/12/19 in London?
Waterloo? Chris?
I am free that day and Travelodges the Sunday night are relatively inexpensive so am thinking of going up near London staying the night and attending the meeting the next day. Anyone else toying with the idea of attending?
The more the merrier!

[metis20] 10/12/2019 20:44

SMMT will not imo be taken private - if ever - until phase 3 results are positive - by that time the share price will be very much higher!

[kirk 6] 10/12/2019 20:39

That's mostly cxxp other than the W8-Ben form you will need to complete. I had to complete a lot of paperwork when expanding my business to trade Nasdaq/dow etc but if your just a sole trader most big houses deal Nasdaq with the additional of the W8 form. Nasdaq is far more liquid than uk and great to trade - small spread better volume etcNow this is fully funded I'm certainly expecting this to go up once the listing transfer is complete

[sikhthetech] 10/12/2019 20:32

I certainly be very careful to hold any US shares in certified form...

I've had 3 companies move from UK to US listing...
all 3 were held HL/Barclays... 1 was online & certified... I and several others struggled to get our certified shares back... Read up about 'escheat' of US shares by Delaware...

Read the Parthus & Ceva & PIC (early 2016) threads...
This was just the tailend of the CEVA debacle..



The conversion process can also be costly & timeconsuming...
You'll probably need to get a Gold Medallion Stamp and fill out W-8BEN certificate annually.



For nominee account holders, if your broker will do the conversion, it can still take time. The dealing costs for foreign held shares is generally more expensive and brokers can charge extra fees for currency exchange etc..
If the CEO can take a huge 72% stake it will be just as easy to launch a full takeover and take the company private without paying much of a premium, if anything...



The pump/dump gang are here trying to suggest to anyone they can sway that it's all easy and the share price WILL soar when on Nasdaq...That is simply not the case...


Do some research...
Read the CEVA/PARTHUS thread and PACE(PIC) thread around early 2016..

[someuwin] 10/12/2019 20:22

Very good interview with the CEO here.

"Summit Therapeutics PLC's (LON:SUMM, NASDAQ:SMMT) CEO Glyn Edwards sat down with Proactive London's Andrew Scott following the news of a US$50mln funding deal with biotech billionaire Bob Duggan..."

[kirk 6] 10/12/2019 20:01

Wow nearly 1.7p on the Nasdaq that's nearly 26

[someuwin] 10/12/2019 19:59

Been buying more NASDAQ:SMMT

[bernymadoff] 10/12/2019 19:50

Loving the price action. Steady daily rises no spikes. Strong and stable lol

[kirk 6] 10/12/2019 19:11

Can't wait till this delisted and moves across to the Nasdaq !!

[guss] 10/12/2019 16:41

Thanks Metis20

Halifax lets me trade on AIM and I can see the ADS price on here but when AIM is gone I’m not sure if anything will exist in my Halifax account. As above I hope they give out some info on conversion or something. Cheers

[metis20] 10/12/2019 15:38

and see the NASDAQ charts on this board of course...

1 Nasdaq SMMT ADS is equivalent to 5 SUMM AIM shares

[kirk 6] 10/12/2019 15:00

Sorry ignore that it's a straight transfer to nasdaq

[waterloo01] 10/12/2019 14:43

How many do you own! They are already listed and trade on Nasdaq as ADS's so that continues, just AIM listing goes

[kirk 6] 10/12/2019 14:35

I thought these we're getting listed from U.K. to Nasdaq???

[metis20] 10/12/2019 14:28

From page 11 of

"If Shareholders approve the Cancellation Resolution, the Company will seek to provide support to Shareholders to enable them to convert their Ordinary Shares into ADSs prior to the AIM Delisting taking effect. Shareholders should note that conversion of Ordinary Shares into ADSs must take place in multiples of five.

It is not possible to receive a fraction of an ADS, so in the event that this conversion is completed after the AIM Delisting has taken place, there is a risk that Shareholders will be left with a small number of Ordinary Shares (a maximum of four Ordinary Shares) which cannot be converted into ADSs.

Subject to the Cancellation Resolution being approved, the Company expects to send to Shareholders further information detailing the process by which Shareholders may convert their Ordinary Shares into ADSs."

[guss] 10/12/2019 11:46

Hi guys, any advice on what’s happening here? I’ve been in these long term, way before the £2.20 highs and unexpected crash, so well under water here.

Do these have any value?

End of December will see a fund raise, share value dilution and a possible private take over with no market protection and then in Feb a delisting.

If we do nothing we get nothing or do we/can we, retrieve any value?
My shares are held in Halifax

Cheers for any clarification.