Summit Therapeutics Share Discussion Threads

[waterloo01] 15/1/2020 08:06

Last time I spoke with them the was the case. I think they will do it automatically but it's also possible you will need to instruct the broker to do the conversion.

[sasannach] 15/1/2020 08:01

Its been muted that the company may offer a 5:1 conversion which is clearly worth waiting for if so. Does anyone who was at the meeting or has spoken to Summit know if this is indeed something thy are looking at and if so when they are likely to announce anything. Appreciate this will depend on the broker and account being able to hold the stock.

Trying to plan out when a last ditch sell would be needed if this doesnt transpire.

[guss] 11/1/2020 15:57

Cheers waterloo01. I’ll have a word with my broker.

[waterloo01] 11/1/2020 13:07

Guss, you can't keep them in an ISA, so you must either sell them before 24th Feb (when they delist from AIM) or transfer them to paper outside an ISA(Chris above).

You can still hold and trade in an ordinary share account or SIPP as you are allowed to hold non UK shares in there, but each broker is different.

[guss] 11/1/2020 12:25

Hi all, any opinions/advice on this situation.

I’ve been in SUMM a long time and sadly lost a packet on the plummet from £2.20 ish.
My shares are in a Halifax Share dealing ISA.

What date does it all fall apart and my shares become worthless/kicked out of the ISA/suspended ?

I know there are probably various options and I’m not sure if Halifax will let you continue trading NASDAQ shares but I’m thinking it’s probably best to sell now, accept £18k loss and move on. I can’t see me getting that money back even if I do manage to continue trading them. I just don’t want want lose even more by doing nothing.

Any advice/info appreciated.

[chrisatrdg] 10/1/2020 16:43

Hi All - I am in the process of converting my online shares into share certificates for which Barclays are still processing my request from last year.Following advice from a Broker I have decided to go with 'Interactive Investor Services Limited (IIS)' at a cost of just under £10 per month plus transaction costs which are not too high.

I was told by the Broker I spoke to this morning that it would be better that I move to a new platform now in order to transfer shares using 'Crest' which will end in February.

IIS trade on the NASDAQ & my account will be able to do this having set it all up including some form of certification in addition I will be putting the shares into a 'Stock ISA'.Any future Sells of my shares will need to be converted into Sterling before the monies are credited to my 'Stock ISA' which can have shares denominated in a foreign currency but not holding US $.

In short I will be able to 'Trade' through an online account my shares in Summit on the NASDAQ likely to be selling not Buying anymore.Regards to all.

I will keep you all posted as it all progress but please do your own research.

[bermudashorts] 07/1/2020 12:15

Summit have set up a new website ricodify.com as a "as a resource for patients with C.diff and their caregivers" . Assume the aim is to generate interest and speed up patient recruitment for ridinilazole.

[kirk 6] 31/12/2019 21:06

Closed 1.6 on Nasdaq

[gwr7] 30/12/2019 09:09

Make the most of it. Might not be on there for long.

[kirk 6] 23/12/2019 12:08

All approved then - great news in my opinion look forward to trading these on the Nasdaq

[multibagger] 23/12/2019 11:51

Cheers algernon2 for your input. I have been out of SUMM for a fairly long time but today's announcement reminded me of SUMM.

Good luck and hope your investment in SUMM pays off very handsomely !

Have a lovely Christmas and a fantastic New Year :)

[algernon2] 23/12/2019 11:47

Hi Multibagger, at the AGM; Summit in the shape of Richard Pye made it clear to me that they have no further skin in the game re DMD.
I was told that even though Kay Davies was still involved in DMD Research that Summit would be having no involvement with any of her further discoveries or outcomes.
In short we are out of DMD.
Thats what I took from the conversation anyway.

[multibagger] 23/12/2019 07:41

If SUMM are still in the DMD field....this news could be of note.

Roche Enters Licensing Agreement With Sarepta Therapeutics for Gene Therapy

23/12/2019 7:25am
Dow Jones News

Sarepta Therapeutics (NASDAQ:SRPT)
Today : Monday 23 December 2019

Roche Holding AG (RO.EB) said Monday that it has struck a licensing deal with Sarepta Therapeutics Inc. (SRPT) for the exclusive right to launch and commercialize a gene therapy used for patients with Duchenne muscular dystrophy outside the U.S.

The Swiss pharmaceutical company said it will pay Sarepta an upfront $750 million in cash and $400 million in equity at closing, which is expected in the first quarter of 2020, for the rights to its SRP-9001 investigational gene therapy.

Sarepta is also eligible to receive regulatory and sales milestones of up to $1.7 billion, plus royalties on net sales, Roche said. The two companies will also share global development expenses.

[algernon2] 21/12/2019 19:03

Hi Chris and Waterloo, as you say there may be little purpose in going as mainly procedural and as feared Xmas is getting in the way.
I wish you both a Merry Xmas and also to everyone else on this thread and Board.
Please everyone keep posting info or speculation as you learn more or your brokers give you info as I am still unsure what to do as I have shares both in my nominee account and in an ISA.
I just hope it won't be expensive or time consuming to stay invested with Summit and Glyn for a bit longer.
Merry Xmas all.

[best1467] 18/12/2019 17:18

To save whatever issues you may or may not have or get just sell your AIM listed share and buy the NASDAQ Shares HL will trade all US Halifax some but not all

[manc10] 18/12/2019 13:57

looks like this is another duffer

[manc10] 18/12/2019 13:55

could anybody tell me if this company makes any profit

[waterloo01] 17/12/2019 15:48

Cheers Chris, I also won't attend (sorry algernon2). Nothing much more to learn and Xmas shopping in the way.

I will also be a long term holder (as ever) and might add via ADR's what I sold from ISA, depending on developments. Eventually this will get to market and I hope the market will by then be attracting decent values.

Ever is the hope......

[waterloo01] 17/12/2019 15:01

OK what I understand is the following. Please take your own advice however the ADR's will be able to be held in trading accounts and in SIPP's however they will NOT be able to be held in ISA's.

I know you can currently hold ADR's in an ISA BUT once they delist from the UK market, the become illegible to be held in an ISA.

I understand that brokers will be writing out to clients who currently hold the ADR's in an ISA that they will have to close out come 24th Feb

I've sold my ISA shares and will buy them back in SIPP or trading account.

Don't shoot the messenger.

[pharma giles] 17/12/2019 14:28

GW delisted 3 years ago to exclusively list as ADRs - the process here could be similar? Some historical information available online.

hxxps://www.sec.gov/Archives/edgar/data/1351288/000114420416128594/v450769_ex99-3.htm

[sikhthetech] 17/12/2019 14:19

waterloo,

I've had no problem holding US shares in my ISA with HL...


sikhthetech12 Dec '19 - 12:42 - 25362 of 25374 Edit
0 0 1
Waterloo,

"Key for me is that I can trade them, should I wish and with relative ease online."

Online trading is not a problem with brokers who deal with foreign holdings...I had no problem dealing with US shares held within my HL account...both SIPP & ISA
Tfr from one broker to another is usually minimal cost anyway...


However, the CONVERSION from UK to US can be time consuming...
The cost, time and money, for CERTIFIED holders can be a lot...

[waterloo01] 17/12/2019 14:15

someuwin, interesting as I spoke with them about it but they said no. Will have to go back and get it clarified.

[pharma giles] 17/12/2019 13:43

Thanks Waterloo - I think ii are ok with these in their ISA (at least they currently have a tick to say we can). I've gone back to them to see if they can shed any light on converting. Will post again if I get anything helpful back.

hxxps://www.ii.co.uk/shares/summit-therapeutics-adr/NASDAQ:SMMT

[someuwin] 17/12/2019 13:43

I think HL are misleading you there waterloo.

I already hold US Summit ADR's (SMMT) in my HL ISA. And they will allow me to buy more right now - albeit I have to leave a fill or kill order as the US market isn't open yet.