Summit Therapeutics Share Discussion Threads

[waterloo01] 27/1/2020 17:25

I dumped all my Barclays shares, most of which was in an ISA so couldn't hold anyhow, and now hold and can trade in Hargreaves in both trading and SIPP accounts.

[sasannach] 27/1/2020 16:25

Selftrade have announced a conversion but the detail isnt clear on timing, charges and if it can be held in an ISA. I'm awaiting clarification as the person I spoke to didnt understand it either!

iii and AJ Bell have said the ADR's cannot be held in an ISA so I'm moving it out of my ISA into a trading account.

AJ Bell will hold it in my SIPP if its converted but no online trading.

This is so painful!

[algernon2] 24/1/2020 16:26

Hi Guys,
Do we know why or where he is going?
Any scuttlebutt at all re this decision?

[freedosh] 24/1/2020 12:51

Totally agree, Chris. A great loss of someone highly qualified to drive our antibiotics programme.

[chrisatrdg] 24/1/2020 12:27

Todays RNS

It is a sad moment for me that Dr David Roblin is leaving Summit who I felt had been a great asset for the Company however as far as Summits C-Diff drug is concerned he may now feel at its Phase 3 trial stage not be able to add more but possible he could have done for their Discuva platform. I wonder who will replace him.

[bermudashorts] 23/1/2020 17:26

Waterloo,

I'm convinced it will come - it has to. Perhaps the AMR brigade need to find their own Greta Thunberg - that should do the trick.

[waterloo01] 23/1/2020 17:16

Good stuff. Oddly I asked about clinical trials update only this afternoon.

Just need a change in the push/pull dynamic.... See WHO put out a wagging finger challenge re AMR to big pharma.

[bermudashorts] 23/1/2020 17:09

The Clinical Trials Register has been updated for both Ri-CoDIFy trials.

Ri-CoDIFy 1 is now recruiting in 133 locations and Ri-CoDIFy 2 in 87. Centres are now open in several previously unlisted countries including Belarus, Belgium, Brazil, Bulgaria, Czechia, Chile, Germany, Greece, Hungary, Korea, Mexico, Peru, Poland Russia and Spain.

Truly a global trial with an impressive number of study centres now open for recruitment which hopefully will inject some pace into the speed of recruitment.

[chrisatrdg] 23/1/2020 16:02

Hi All My understanding is that going from AIM to NASDAQ requires no funds just a matter of exchanging shares on AIM with ADD's through the Crest system based on advice I have received.

[waterloo01] 23/1/2020 15:59

Nasdaq unimpressed so far.

igw, I do hope they will arrange excellent terms to convert rather than anything prohibitive.

[1gw] 23/1/2020 15:24

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.

[waterloo01] 23/1/2020 13:17

Also added a few. I was actually thinking about 11.45 that I'll miss the 12.00 RNS's

Hope we might also hear something soonish from the US re an alternative to Disarm act. That would really make a difference on the pull side

[chrisatrdg] 23/1/2020 12:44

I agree with you kirk6 & I am moving onto the NASDAQ soon & I am now with Interactive Investors & have just rounded my investment to 51,000 shares by Buying a mere 755 shares as the current share price is cheaper than chips & by being with Interactive Investors once my share certs get added in I can move onto the NASDAQ as Interactive Investors also trade on the NASDAQ.I may add a few more before the close in February. Now showing as Strong Buy

Edit: NASDAQ now on the rise up 5.72% at $1.65.

[kirk 6] 23/1/2020 12:32

Excellent news!!! Blockbuster year coming up hear on the Nasdaq! No wonder there has been stake building recently

[chrisatrdg] 22/1/2020 08:29

Hi Sasannach - My process only relates to share certificates.

I have now heard back from ii who have asked for the share certificates as soon as possible as they wish to put them back onto AIM using the crest system & they then will go through crest onto the NASDAQ before the close on AIM.I also understand that crest will still exist after delisting on AIM.

I will update after the next move.

Edit: The advice from ii is after they had spoken to their trading dept.

Edit Edit: I have found Interactive Investors very helpful & I am pleased to have gone with them.

[sasannach] 22/1/2020 07:52

Chrisatrdg, thanks for the info on conversion to ADR's, but is what you are detailing just relevant to share certificates?

Are they going to provide a mechanism to convert shares to ADR's with no paper conversion involved?

sikhthetech you asked , "Why go through the complex conversion, why not simply sell the UK listed ones and if you so wish, buy the US listed ADRs??" If they provide a simple process to convert from shares currently held to ADR it would avoid any price difference between UK and US stock prices plus any trading costs. If I do a sell and buy across my portfolio I was estimating a £1k loss.

iii have sent out the following

"The company has also announced that subject to the Cancellation Resolution being approved, Summit Therapeutics is expected to announce further information detailing the process to convert Ordinary shares into ADS. Shareholders should note that the conversion of Ordinary shares to ADS’s is expected to be in multiples of five."

Not sure what they mean by the cancellation resolution? Hasnt everything been agreed?

[chrisatrdg] 20/1/2020 17:15

Meet the new investor detailed in todays second RNS

[chrisatrdg] 18/1/2020 15:20

W.H.O. Warns That Pipeline for New Antibiotics Is Running Dry
In two new reports, the global health agency says only government intervention can fix the broken market for new antimicrobial drugs - NYT.




Edit: The above can only be good for Summit.

[chrisatrdg] 15/1/2020 11:43

Hi sikhthetech - I agree selling on AIM & buying on the NASDAQ is another route but I did not want to expose myself to a possible negative movement in the respective share price when moving from selling to buying.

[sikhthetech] 15/1/2020 11:15

I still think Mr Duggan will take the company private at around the current share price .

[sikhthetech] 15/1/2020 11:14

"I would also add that the legal basis is that the Companies share capital is always denoted in Ordinary Shares so one can just hold onto them & decide latter to Sell them."

You'll have additional problems selling them after they are delisted.

Why go through the complex conversion, why not simply sell the UK listed ones and if you so wish, buy the US listed ADRs??

[chrisatrdg] 15/1/2020 09:01

Hi All I have been having conversations with Summit as well in fact yesterday.

My understanding is that once one has converted back to share certificates it will then be up to your Broker to go through Bank of New York Mellon who hold the ADD'S see details below.

Through the Bank of New York Mellon the UK shares certificates are surrended via your Broker & the shares are then replaced on a 5 for 1 conversion & then we will able to trade on the NASDAQ through our platforms.

At present I have asked Interactive Investors(II) to confirm the route the guy I spoke to was not sure I will get an e-mail hopefully soon to let me know the route.

Understand that not all Brokers will work with Mellon but I believe that II will.

I am still waiting for Barclays to complete the process of converting my shares on their platform into share certificate's been a month now & expect it will take a further 2 to 3 weeks to receive my Certificates.The Share Centre took one week.

My aim is to have Summit $ ADD's in a UK Stock ISA & be able to trade on the NASDAQ but any Sells will need to be converted into Sterling before being deposited back into my Stock ISA as cash.

I would also add that the legal basis is that the Companies share capital is always denoted in Ordinary Shares so one can just hold onto them & decide latter to Sell them.

I will keep you all posted.

Details of Bank dealing with Summit ADD's:

Summit Therapeutics

CUSIP: 86627R102

Bank of New York Mellon