Summit Therapeutics Share Discussion Threads

[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

[sikhthetech] 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?

[1gw] 21/2/2020 09:03

Summ UK holding now showing as "assented conversion line" in HL. So far, so good.

[sikhthetech] 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?

[algernon2] 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

[kirk 6] 18/2/2020 22:05

Current equivalent share price already over 24p. Reckon we will be flying over $2 next week

[chrisatrdg] 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.

[waterloo01] 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

[1gw] 18/2/2020 21:32

Yes, nice to see it jump on nasdaq tonight. Hope that's a good omen.

[waterloo01] 18/2/2020 21:00

And with all those positive posts it's good night SUMM, and hello SMMT.

[sikhthetech] 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 LESS THAN A YEAR.

"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. "




I think Mr Duggan will take over the company at around the current price within the next 12 months.

[metis20] 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...

[hernando2] 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.

[poseidon2] 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!

[waterloo01] 18/2/2020 19:36

Fair well freedosh. Antibiotics finally done you in.

[algernon2] 18/2/2020 19:33

Good luck Freedosh.

[freedosh] 18/2/2020 19:29

No. Jumped ship and went into NCYT.
Sorry guys but I’m sure this will take off on NASDAQ now the AIM overhang is gone.
I won’t post on NCYT - never seen anything so offensive and manipulative.
Good fortune all.

[algernon2] 18/2/2020 19:15

Hi Chris and Waterloo.
Well it looks like I'm aboard still for the ride ADS wise.
See you both at the next AGM?
Will we have a joint AGM or one in the UK and one in the US; or can there only be one and it will be hopefully broadcast live to the other side of the World from where it takes part.
Is Freedosh with us also?
God Bless the Good Ship Summit and all who sail in her!

[waterloo01] 15/2/2020 13:07

cool. thanks

[chrisatrdg] 15/2/2020 13:00

Hi All - With Summit coming off AIM will this Board continue on the basis the short cut is putting in 'SUMM'.Regards to all.

[sikhthetech] 13/2/2020 13:27

I wouldn't be surprised if that 2.5m trade was a sell, given the trade is only days before the deadline...question is whether there will be corresponding buy in US..


I still think Mr Duggan & co will take over the company at around the current sp, if he thinks everything is going well... probably in around a year's time...

Nothing stopping him doing so..

[1gw] 13/2/2020 13:21

Just spoke to HL to ask about timetable and they said that ADRs should appear on our (HL) accounts within about 1 week of the deadline - so presumably end of Feb or early March.

Having been disappointed in the past with delays in UK-US transfers I will believe this when I see it, but it certainly sounds good at this point.

[freedosh] 13/2/2020 10:53

Will be interesting to see if there is a matching ADR buy this afternoon.

[waterloo01] 13/2/2020 09:39

Rather large trade gone through. 2.5m+

[chrisatrdg] 12/2/2020 12:31

I have in the last 30 mins finally rolled over all of my 51,000 shares on the Interactive Shares platform after many complications which I would not have wished on anyone.

I would like to note that I had great support from Summit.

Lets hope that for all of us soon to be on the NASDAQ that we have a bright future ahead of us & an opportunity to recover what for many of us are large losses mine is approx. £40k.