Poolbeg Pharma’s chairman Cathal Friel says the recent dividend in specie exercise has provided an indicative floor for its shares as it is “clear there are serious investors who want to buy £1.2mln worth of shares at 5.9p each”.
Friel added that several lessons have been learnt from the spin-out of Poolbeg and for any future dividend in specie distributions, the lock-up period will be much shorter.
"At the most three months," he says," not nine" because even today there is very little liquidity in Poolbeg shares.