CeNeS Pharmaceuticals pls shares

molly22

hi

does anyone know anything about the above shares.

i have recently found a certificate for 400 of these and cant find anything else about them.

are they worth anything?
can they be sold?

thanks
molly

bowlhead99

I sold out of them years ago after some continuing poor news on their trials and steady erosion of share value. After that, there was a share consolidation in 2007 when for every 30 shares with 1p nominal value (which had been worth very little), you got one new share with 30p nominal value. So it would be worth checking if your certificate is for 400 x 1p shares or 400 x 30p shares.

Then later, all of those new shares were acquired by a German biotech business Paion AG, in exchange for shares in the new combined business. So you got about a third of a Paion share for every 30p ordinary share in CEN, and based on the Paion share price in Frankfurt at the time, it valued the CEN shares at maybe 50-60p (quite a bit more than CEN had been trading at before the offer).

Today, Paion is priced at 3 to 4 Euros a share, so assuming your 400 shares have each converted to about a third of a Paion share which are each worth a few Euros, there could be some value there as you'd have over a hundred of them. Of course if the Paion AG shares I'm looking at on the stock exchange are after some further consolidation, you won't have as many as a hundred of them.

And if your CeNeS shares are the old 1p shares from 2006, you really wouldn't have any entitlement to very many shares in the new owners at all, because at the time of the takeover you only had less than a tenner's worth of shares. If you think you have some value, follow up with Paion investor relations.