Relief Therapeutics Holding AG (RLFTF)

[ratna1]

Here is my post from 2nd of February again since y'all too lazy to look it up yerselves, eeh?


ratna1 Saturday, 02/06/21 01:08:25 PM
Re: A deleted message 0
Post # 35181 of 36589
Collusion of BOD with GEM to suppress shareprice ?
Please excuse me for posting twice but I was still editing when I was cut off. SO this is the final version. Feel free to cancel the previous one:

As much as Vanilla's manic ravings drive me to fits in bits I have to say now I am infuriated with the intentional procrastination of positive news and have to agree with him that RLF is holding back material information from shareholders in servitude of the financial benefit of their majority stake holder GEM!

Obviously there is a concerted effort to artificially suppress the share price so GEM can convert the shares under the financing facility at a depressed valuation and thus deprive the company that we are invested from a transfer of shares at a fair value!

We as majority shareholders are being fleeced twice over :

once by the orchestrated effort to artificially suppress the share price and distort markets price discovery for it's true valuation
and
twice by the board of directors and the C-level suits drawing down the financing facility now when they have surplus cash at hand and - as stated by themselves in one of their last PRs - no need for additional financing in the near future.
To draw down the financing in exchange for shares now when the shares are purposefully derived of their fair value and when their is no need for additional cash is bad for the company that could get the same US$ amount of financing in just a few weeks for half as many shares in exchange and thus it serves only the benefit of GEM while exploiting the public shareholders.
This is not only infuriating in light of extremely positive developments as we can see from NEURO-X's PR last night but also in as much as it might well serve as grounds for a class action case being brought against the BOD and C-level on account that positive and material news were willfully hidden and that thee was collusion between directors and officers of RLF with the board of the largest stakeholder GEM to not disclose to the public relevant information that would allow for markets a price discovery of the fair value of the stock BEFORE this transaction is consummated.
We all know that this fair valuation of course would result without doubt in a significantly higher share price than what we saw last summer !

This reeks of collusion in particular in light of the recent very generous, if not downright obscenely hefty raises in salaries and boni that were granted by the largest shareholder GEM to the BOD and Chief officers which might be easily construed as a form of roundabout bribe to get compliance for GEM'S interest over those of the company - that is us BTW - itself!

But see for yourself and kindly comment on it.
As you have shared before where you implied that you do have some direct channels of insight into company developments I really would like to know what do you make of it

this also makes a lot more sense to explain why the topline results are being held back than all these laboured efforts to imagine how counsel and FDA are putting the breaks on...
The old roman saying still rules - CUI BONO?

https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAL1S00025

As my accounting associate reads this PR it shows that RLF requested this on Jan 22. The pricing is provisional with the real price calculated 15 trading days later.

Relief is loaded with no need of cash now, so management is acting in the interest of its major shareholder and against the interest of the majority of shareholders - otherwise they would wait until after the top line results are announced presently.

Since management is doing the bidding of GEM, I would guess that they will need to sit on top line results until about Feb 15 and draw out any PR until the low share price for exchange of shares agains 50 million in cash is locked in...

So far it is only GEM benefitting to the detriment of public shareholders and we will be left in the dark until those 15 trading days counting from the 22nd of January, 2021 to February 15th...


See for yourself

FYI:

Pursuant to a Share Subscription Facility agreement (SSF), GEM committed to provide up to CHF 50 million to RELIEF THERAPEUTICS Holding SA in exchange for registered shares of RELIEF THERAPEUTICS Holding SA in the period from January 20, 2021, to January 20, 2024, at the discretion of RELIEF THERAPEUTICS Holding SA, subject to certain exceptions and limitations. No drawdowns have been made until January 22, 2021, resulting in a remaining balance of the full amount under the SSF of CHF 50 million. GEM's purchase position has been calculated using the closing price of the registered shares of RELIEF THERAPEUTICS Holding SA on SIX Swiss Exchange on January 22, 2021 (CHF 0.41) and applying the 10% discount agreed in the SSF (resulting in a share price of CHF 0.369), by dividing the remaining balance under the SSF of CHF 50 million by such share price of CHF 0.369. However, according to the terms of the SSF, future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on SIX Swiss Exchange during the relevant reference period, which corresponds to 15 trading days following RELIEF THERAPEUTICS Holding SA's relevant subscription request, subject to certain exceptions and limitations. Therefore, note that the actual subscription price at which GEM may be requested to subscribe for registered shares of RELIEF THERAPEUTICS Holding SA under the SSF may be lower or higher than the share price applied above, and accordingly, the number of voting rights GEM may acquire as a result thereof may be higher or lower than as set forth in this disclosure.Pursuant to a Share Subscription Facility agreement (SSF), GEM committed to provide up to CHF 50 million to RELIEF THERAPEUTICS Holding SA in exchange for registered shares of RELIEF THERAPEUTICS Holding SA in the period from January 20, 2021, to January 20, 2024, at the discretion of RELIEF THERAPEUTICS Holding SA, subject to certain exceptions and limitations. No drawdowns have been made until January 22, 2021, resulting in a remaining balance of the full amount under the SSF of CHF 50 million. GEM's purchase position has been calculated using the closing price of the registered shares of RELIEF THERAPEUTICS Holding SA on SIX Swiss Exchange on January 22, 2021 (CHF 0.41) and applying the 10% discount agreed in the SSF (resulting in a share price of CHF 0.369), by dividing the remaining balance under the SSF of CHF 50 million by such share price of CHF 0.369. However, according to the terms of the SSF, future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on SIX Swiss Exchange during the relevant reference period, which corresponds to 15 trading days following RELIEF THERAPEUTICS Holding SA's relevant subscription request, subject to certain exceptions and limitations. Therefore, note that the actual subscription price at which GEM may be requested to subscribe for registered shares of RELIEF THERAPEUTICS Holding SA under the SSF may be lower or higher than the share price applied above, and accordingly, the number of voting rights GEM may acquire as a result thereof may be higher or lower than as set forth in this disclosure.[color=red][color=red][color=red][/color][/color][/color][color=red][/color]