James Clark and David Pike were appointed Joint Administrators of 4D Pharma Plc – in Administration (the ‘Company’) on 24 June 2022.
Some useful information relating to the administration appointment and the status of the Company's shares is provided below:
Question 1. What is an
An administration is a formal insolvency process by which a company is placed
under the control of licensed Insolvency Practitioners to achieve objectives
laid down by statute. At its most basic, the fundamental role of the
Administrator is to realise that entity’s assets for the benefit of that
entity’s creditors. A moratorium is provided by which creditors and others are
prohibited from taking or pursuing legal proceedings against the company while
it is in administration.
Question 2. Why have the Company’s shares been suspended?
Answer 2. Because on Friday 24 June 2022, James Clark and David Pike of Interpath Advisory were appointed as joint administrators (the "Administrators") of 4D Pharma Plc (the "Company” or “4D”).
Question 3. Will there be any future value in my shares?
You should seek advice from an independent financial adviser. Following the
Administrators’ appointment, we are working to establish the likely outcome for
creditors and other stakeholders. Given that the position is currently unknown,
we are not requesting details of any claims from shareholders at this time.
Question 4. Can I utilise the losses on my shares to offset future capital
You should seek advice from an independent financial adviser or tax consultant
as to the impact of any losses on future capital gains.
Question 5. What information will be available for shareholders?
Within eight weeks of the administration appointment, the Administrators will
write to shareholders of whose addresses we are aware notifying them that a
copy of the Administrators’ proposals are available to view on our Insolvency
In the meantime, we will make a copy of the notice of the Administrators’ appointment
as well as other letters and notices circulated to all known creditors of the
Company available on our Insolvency Portal. Please note that shareholders do
not have the right to vote on matters arising in the administration, because of
this the correspondence and interaction between the Administrators and
shareholders may be very limited.