Of course ,should drop to 30p today .
The future looks very bright
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Hi Bottoms ,
As an Investor one has to wait patiently for the news one anticipates . Aortech ,you know as well as I , could drop a game-changer at any time .
Perhaps you should read My Magellan Petroleum & NuOg posts or even Aurum / Ormonde
Of Course , death by a thousand cuts will continue ,until Mr Market decides what this lacklustre company is to become .
By The way ,Why don`t you join the Barclays competitors .You seem pretty lucid . It will help with your trading knowledge too .
The road has definitely been long for you...but now you have the opportunity to make some money on this volatility...if you time your sell right.
Well done for being so patient in the extreme and waiting for your day.
I must admit that I enjoyed watching the rise yesterday and was poised at 68p to start screaming SELL on here, because of the huge jump from about 59p straight to 67p on my live data, and gave away a massive chance for the traders to bank a very good profit.
It seemed a bit too good to be true that this would go much higher on the strength of an RNS saying that they had reached `an agreement` on their legal issues, particularly because they`d already flagged that up as imminent.
You`ll never know the figures so not worth pondering.
They`re still small fry, but the `informed traders` knew that when this `news` came it would start some very volatile moves in the very short term.
The herd pounced and I`d love to hear some of the best trades that were had...the 100%`ers will be having an extra festive holiday on the proceeds.
bbr, you are learning my friend, because you`re trying to throw a bit of ramping into the mix...you must be picking up a few tricks from the `professionals`....although if you`re going to sound authentic you must get your basic facts right..it wasn`t 8p a few months ago, the lowest it dropped to was 9.25p intraday and the lowest close was 9.5p.....and then was c16p within the next 2 days, so it was a very brief chance to get in that low.
Remember, this share has a very low number of shares in public hands, so volatility is nailed on with relatively low volume...thats why the herd are circling, and playing.
Sharks could learn a lot from these experts.
So now that the litigation is history, what kind of pitch could you give for new investors to buy into this story?
Glad to see you still here . Yes of course the past few days have had day trader involvement . Are they not involved in every share ?
That said . As I have a valuation of this share well above current MCAP .All dependent OF COURSE on Bill & The Team monetizing our long lost patents .
Seems to me the day traders are informing us that good news lies ahead .
How much from Foldax ?
How much from Biomerics ?
How much for the monetizing of patents ?
All as you rightly inform are still yet to be clarified in black & white .
One assumes that £1 may be surpassed within the month on speculation alone .
From there I may be joining your scepticism .
Its All About Elast-Eon: Bringing Quality and Value to Your Medical Device Project.
June 30, 2017
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Scottish heart valves maker AorTech International was given room to breathe yesterday, after raising £20.1m at the second attempt.
Japanese bank Nomura has agreed to act as underwriter to ensure the success of the scaled-down cash call, which follows the failure of a £64m share issue last month.
However, the success is not without a cost to directors. Chairman Gordon Wright and chief executive Eddie McDaid have been forced to spend a "six figure sum" investing in new shares, rather than selling £2m of their holdings each, as initially planned. Mr McDaid said: "In the current climate, I suppose it's a relief."
The firm has developed a brown plastic-like material called Elast-Eon, which is flexible enough for use in joints and valves but carries a low risk of rejection by the body. It also has a heart monitor called TruCCOMS, which measures the flow of blood more accurately than existing technology.
Without fresh funds, AorTech was due to run out of cash by the end of the year. However, investors boycotted the firm's initial attempt to raise money, on the grounds that £64m was too much to ask.
Mr McDaid said the scaled-down rights issue would give the firm less room to manoeuvre: "We won't have a war chest to look for acquisitions, or for new technology. If the right opportunity comes along, we will have to come back and talk to our shareholders."
Nomura were appointed to handle the fundraising in place of US bank Morgan Stanley, which botched the first attempt. It is understood that this change was at the suggestion of AorTech's shareholders.
Analyst Max Herrmann, of ING Barings, said the money should be enough to see AorTech through to profitability. He said: "I don't think £65m was ever a necessary amount to raise. This is much more reasonable - they'd clearly tried a placing which wasn't well thought through."
Shareholders are being offered shares on a five-for-24 basis at 320p, a steep discount to yesterday's closing price of 382.5p, down 17.5p.
AorTech recently launched its heart monitor, TruCCOMS, but initial sales have been disappointing, although the potential market for the device could exceed $200m (£140m). ING Barings expects the device to yield revenue of £1.5m next year, and £7m in 2003.
The recent stock market slump has hit the cash-poor biotechnology industry particularly badly. PPL Therapeutics, the cloning specialist famous for creating Dolly the Sheep, was forced to abandon a £45m fundraising earlier this week. Oxford Biomedica is raising £27m through an underwritten placing, but it could struggle to complete a £10m "top-up" offering of shares.
Founded in 1992, AorTech is valued at £460m. The Strathclyde-based company was built on technology developed by a doctor at Papworth Hospital, Cambridge, who was a friend of Mr Wright. Mr McDaid and Mr Wright each hold 14% of the company, worth £65m apiece.
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