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Aandeel Galapagos AEX:GLPG.NL, BE0003818359

  • 27,180 19 apr 2024 17:35
  • -0,200 (-0,73%) Dagrange 26,860 - 27,280
  • 62.640 Gem. (3M) 81,1K

Prometic Life Sciences Inc.

22 Posts
Pagina: «« 1 2 | Laatste | Omlaag ↓
  1. Mr Greenspan. 19 april 2019 21:45
    quote:

    winx09 schreef op 16 april 2019 08:26:

    geen idee. Maar de grote jongens krijgen oneindig veel aandelen voor die 0.01521. Mijn persoonlijke mening gebaseerd op blaren uit het verleden: blijf weg bij dit soort toko´s. De pijplijn gaat in brokjes verkocht worden (@Hoekema wellicht goedkoop IP te kopen rondom IPF ?). Voor de speculant wellicht wel interessant want er zullen extreme koersbewegingen gaan plaats vinden. Uiteindelijk schrapen de grote jongens nog een deel van hun verlies bij elkaar en kunnen de kleine aandeelhouders fluiten naar hun centen.

    Bovenstaande niet op basis van diepgaande kennis van Prometic, maar het patroon is voor mij duidelijk.
    succes met je afweging.
    Wellicht willen er bij Galapagos nog een keer naar kijken als het echt heel goedkoop binnen valt te halen. Ik heb Hoekema er bij de nieuwjaarsborrel naar gevraagd maar toen gaf hij aan er wel naar gekeken te hebben maar het niet interessant te vinden (Galapagos had zelf betere moleculen).
  2. [verwijderd] 25 april 2019 20:54
    quote:

    FatCool schreef op 19 april 2019 13:40:

    En we beginnen alvast per onmiddellijk: blijf weg van alles wat genoteerd staat op de Canadese Venture en TSX markten!!!!!
    Dramatic dilution at Prometic Life Sciences draws ire of shareholders

    Toronto Stock Exchange granted the company’s application to go ahead without a shareholder vote due to 'financial hardship'

    Some shareholders of a Quebec-based biotechnology company are objecting to a dilutive restructuring that wipes out most of their equity in Prometic Life Sciences Inc., a transaction they didn’t get to vote on because the Toronto Stock Exchange granted the company’s application to go ahead without a shareholder vote due to “financial hardship.”

    “We’re being just driven into oblivion here,” Jean Pierre Toupin, a 72-year-old editor and former economist who has been an investor in Prometic for about five years, told the Financial Post on Tuesday.

    But Laval-based Prometic, which boasted a spot in the benchmark S&P/TSX Composite Index until last June and investors including the California Public Employees’ Retirement System (CalPERS), said the transactions were the only viable option to reduce the firm’s debt burden and interest payments, and provide some cash to continue operations following a series of setbacks.

    The biotech firm is developing a process to separate plasma proteins to treat orphan illnesses, but stumbled following a delayed U.S. Food and Drug Administration (FDA) approval, as well as a delay in receiving a research and development tax credit reimbursement from the United Kingdom. The chief executive was replaced late last year, and the company would have breached covenants under its credit facilities with SALP on March 31 if not granted a waiver.

    Following a $229 million debt-to-equity conversion and a private placement completed Tuesday, Thomvest Asset Management affiliate Structured Alpha LP jumped from owning or controlling just 3.6 per cent to more than 80 per cent of Prometic’s issued and outstanding common shares.

    Thomvest Asset Management is a private investment firm controlled by Peter J. Thomson, a member of Canada’s richest family and a board member at Thomson Reuters.

    “Mr. Thomson is aware of the Prometic investment but has no day-to-day involvement in managing or overseeing the investment and was not involved in negotiating or implementing the Prometic restructuring transactions,” according to a spokesperson for Thomvest.

    The private placement at Prometic, which included issuing shares to Consonance Capital Management, raised $75 million, which will be used “to fund working capital needs and for general corporate purposes including the advancement of its drug discovery platforms,” according to a news release issued by Prometic on April 15.

    In the same release, Prometic said it had hired investment banks and taken steps to try to refinance, sell non-core assets, or forge partnerships to shore up operations, but no other viable option could be brought to fruition in time to steady the heavily leveraged company.

    The decision to rely on the financial hardship exemption — which meant the plan would not be put to a shareholder vote — was made following a recommendation by a special committee of independent directors whose members were all “free from interest in the Debt Conversion, the Warrant Repricing and the Private Placement, and unrelated to the parties involved in these transactions,” the statement said.

    But the restructuring is not sitting well with some shareholders who have found their holdings diluted, and they are not consoled by an option to make further investments through a follow-up rights offering.

    Toupin, who is from Ottawa but is living in Montreal, said he recently connected with a group of investors from across the country who feel much of the company’s promise is being taken out from under existing shareholders by other involved parties. They had urged the Toronto Stock Exchange to reject the requested exemption that allowed the Prometic restructuring to go ahead without a shareholder vote because they wanted more say in the company’s future.

    “This was part of my retirement money…. It’s a significant loss for me, and it’s probably more dramatic for a lot of other people,” Toupin said, suggesting retail investors could number in the thousands. Prometic shares, which traded at more than $3 apiece in 2016, closed at 6.5 cents on Tuesday.

    Shareholders have also taken their concerns to regulators that oversee the Toronto Stock Exchange, including Quebec’s Authorité des marchés financiers (AMF).

    “We have actually received several complaints in this file and we are going to analyze them,” Sylvain Théberge, a spokesperson for the AMF, told the Financial Post in an emailed statement on Tuesday. Théberge declined to comment further.

    Catherine Kee, manager of corporate communications at TMX Group, parent company of the Toronto Stock Exchange, declined to discuss the Prometic case.

    “We don’t comment on individual issuer matters,” she said.

    Mike Osborn, a spokesperson for CalPERS, declined to comment on the situation at Prometic, but confirmed that the largest public pension fund in the United States owned a stake in the Canadian biotech firm at the end of June 2018, the period covered by its most recent annual report. The stake at that time consisted of 1,464,100 shares with a market value US$578,762 and a book value of US$3.38 million.

    “About the company, we do not have a comment,” he said in an email.

    On Tuesday, as Prometic announced that the restructuring had gone ahead, the company said it intends to seek approval from its shareholders for a share consolidation at a special meeting in Montreal on June 19. The company now has 20,947,510,578 common shares issued and outstanding on a fully-diluted basis, including all outstanding warrants, stock options and restricted share units.

    Prometic also installed Kenneth Galbraith as chief executive officer. Galbraith spent 13 years in senior management at QLT Inc., a Vancouver-based biopharmaceutical company that merged with Massachusetts-based Aegerion Pharmaceuticals Inc. in 2016.

    Simon Best, who had been interim CEO of Prometic, was appointed lead independent director, and Stefan Clulow, managing director and chief investment officer of Thomvest Asset Management, was appointed chair of Prometic’s board of directors.

    business.financialpost.com/news/fp-st...
22 Posts
Pagina: «« 1 2 | Laatste |Omhoog ↑

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