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Oceatrated what now??
How has Suzy dodged this one…..her role needs to be up there for a vote aswell…… maybe she knows the other three and has oceatrated the whole thing….. more time more money rinsed - smoke and mirrors - absolute scammers
@PM2022
Just to clarify, No not a buyer until Suzy removed as CEO. It has to happen ASAP.
TbH the change will ultimately be good for SH but I don't see anyway out of it. SH have been completely shafted IMO and will take a short term hit. But better to raise with a new board insitu than raise to give cash to suzy and Co.
The damage has already been done, the SP hasn't caught up yet but it will, THX won't be completing, suzy has sold SH a pup IMO - sorry.
Mr Porky but you are not invested. You would be happy to buy at 0.000001p makes no difference to you.
Talk about what is good for current holders that will lead to a higher share price in the shorter term.
We don't want the new guys to get confused now do we.
The 600k spent is of no relevance now. It is what the lab can achieve in the next 12-24 months which is important. If it is years away from break-even/profit-making then fair enough lets make the decision to stop now
Adam's presence on the BOD would be far more valuable than any of the NED's proposed. His judgment as to whether to keep the lab or not would be invaluable
@TRENCH123
You raise a valid point however, lets look at the business case. A lab can deliver at best a 20% bottom line once established. They are really labour intensive. VAL would need to secure millions in Lab revenues for it to be viable. They didn't buy an established lab, they used SH cash to fund lifestyles whist they tried to build one. To date its done zero revenue. I see it as a total liability sorry.
I would rather the £600k had gone into 6 to 8 new evaluations than wasted on a biobank with more cash on top for brand awareness !!!! - what's that about?
Hopefully the new board will have some business acumen and review all activity.
When PM starts predicting 'others buying at 1p' you know things are looking bleak.
NO @PM2022 you are totally 100% wrong. Carrying on as it is in any shape or form is NOT an option.
I'm sure you work at VAL. There is NOT one event that can bring cash in, I'm not calling for a raise , i'm saying a raise is 100% inevitable BUT at least it will be to fund a new board to drive the business not feed the current BOD lifestyles.
Total honesty means clearing the decks. IF 201 is dead, its dead close it off. IF it can be reformulated and a new patent arranged and can then be licensed then fair enough. I Would also review 301, Suzy owning a chunk of it personally is a bloody joke. I would not allow the new board to take take sweet heart deals where SPVs are set up but that's another matter that needs addressing.
As for the labs, pie off building a bloody biobank, Imogen lost millions doing that why follow a failed business model? SH came into this to make a difference to cancer - i'm saying go back to what the business originally stood for not building out lab CRO - nobody cares about a lab business they are ten a penny.
I would not be ditching the lab at this stage. I am impressed by the way Inaphaea has been set up in a very professional way by Suzy and her team. The people running it are competent and experienced. Adam was enthusiastic and very supportive of this initiative, so it needs to be given a chance
I agree on some changes, but a completely new BOD would be disruptive and counter-productive
6/7 new projects H2. It all depends how good a project is It is so hard to find good ones. You don't get potential new science sitting everywhere. Who will pay for 6/7 projects then if half of those progress to preclinical what then? how are you going to fund so many new projects at the same time. If they are junk then 5/6 failures will drop the SP and drop confidence yet again.
Also no point messing around with 201 patents nobody gonna pay for it and waste all that time. All it is doing is dropping the SP even further down for others buying at 1p to benefit not us.
Calling for a raise then asking for a new BOD is only going to make people not want to vote for it. Exactly my argument and why I don't like what is proposed. It needs to build on what they have not have not knocked all the way down and start again.
Your going down the exact strategy 4D had and failed.
Traders? Newbies? Average Downers? Speculators? Suckers?
Has to be done:-
: Rid Business of dead wood, there will be costs associated with that three month notice periods / settlements etc
: Refocus on what's important: new evaluations / ditch the lab/biobank building.
: New BOD in situ ready for H2 all being well - it will take until end of June at best IMO.
: Get Cash burn under £1.5m PA
: They will need a raise, sorry but we cant expect a new BOD to go into H2 with only 8-10 weeks cash runway left at best.
: I'm calling a 2p raise end of June to raise £1.5m
: Pie off THX get the asset back under control
: Honesty regarding the state of what's left required. Build from ground up again. Rebuild SH Confidence.
: Suzy move to sciences or leave - don't care which it is BUT new CEO appointment essential.
: 201 will need reformulating and re-patent and CLX will need working on. New patent guy can support. V positive.
: Add at least 6 or 7 new evaluations in H2 - really go for it.
For the first time ever i can see light at the end of the tunnel - Yes a lot of fires to put out first, on the assumption EGM notice out for end of this month and meeting end of April, resolutions get passed, new chairman found for end of May, i do think there is every chance a new board can be in position and old lot paid off./gone by end of June in time to start rebuilding the business from 1st July H2 onwards.
Good luck
How has Suzy dodged this one…..her role needs to be up there for a vote aswell…… maybe she knows the other three and has oceatrated the whole thing….. more time more money rinsed - smoke and mirrors - absolute scammers
Mergers take between 2 months and 12 months with the average being 6/7 months. I think they were little further than the start of the talks when LOI was announced and given it has been ongoing then you would expect it to conclude.
Val still needs 201 because without that then we are looking at a lower placing price when it happens which will end it for existing holders. Only 201 or maybe CLX will recover us to double figures at the moment.
Not happy with the performance of Kevin but if they can provide some clarity then I would have to reluctantly back them as destroying everything and starting again will take too much time and a few more placings at lower prices imo than what the current BOD would do imo.
Lack of placing experience is also a concern of mine as it will be needed so how will these guys conduct that. You cannot rely on the broker, it will be a complete mess imo.
The best solution remains a compromise maybe 1/2 shareholders can join the board.
Not one iota, Sonnets.
However, I would like it to be brought to a conclusion. It has hindered the company for over three years now and that is just wholly unacceptable.
We need transparency on the matter and we're not going to get it from the current BOD.
NorthernHero do you actually believe that the TRx matter is a prospect? It was time sometime ago I think to move on from that safety net appearance .
Well done indeed to those who pushed through the GM. I have suggested previously concern at part(s) of the bits that make up Val being cut adrift: I hope that this is not a prelude for spin off
Adrian de Courcey
Strategy | Negotiation | Business Development | Transformation & Change | Queen's Award for Enterprise | University of Cambridge | MBA | Angel Investor | Prince's Trust Mentor
Also check out Bens linkedin under his recommendations. There she is, Dilly herself, absolutely praising his work.
Both a yes from me! Good luck chaps.
Well, well, well. That's what we have been waiting for. Well done all involved.
It’s worth noting that the two new NED’s that have been RNS’d by VAL have not yet been appointed, and the notifications came out after the requisition was submitted, if the two proposed NED’s by Val are subsequently appointed resolution 7 if voted through will make their tenures very short lived indeed
Spot on TH. Suzy's actions reek of self-preservation.
Yes and i would not wish to see VAL appoint as a NED the N4P director, Luke Cairns, as per the RNS yesterday. N4P have had a torid share price implosion from 30p+ to 0.7p. A lot of waffle about collaborations and improving share holder value over many years has come to nothing at N4P. Quite the reverse. Hopefully he will withdraw his candidature prior to the EGM.
So who are the chosen three guys .
I imagine they all.rwside at the telegram group..
Ben snipe.... if he's the patent guy then I'd agree with that and seems a good move
Adrian de courcey...no.idea as long as he doesn't bring Nookie Bear with him !
Ray Horn...to be a board observer so I'd imagine a retired SH who's bored
A role.imo which isn't needed .
Well the shareholders bite back and queen Suzy’s crown is slipping. After the last revolt when George and Satu met a nasty end the pretender to the throne is now drowning , weighted down by one bad decision after another. Recently it has become apparent that shareholders here have become those pesky kids ( scooby doo fame). When the begging bowl came out recently ( which porky was so right in predicting ) you would think that every precious penny of shareholders funds would be used wisely , yet in that rns in February we are told the company is seeking legal advice , basically the very funds from the shareholders to keep the company going was being used against them because they have dared to stage a revolt. And really who can blame the loyal shareholders who have put their hands in their pockets time and time again. Those across the pond don’t care as they are so busy playing happy families , are we in or are we out , shall we merge or shall we not it’s worse than the Hokey Cokey , in the meantime val shareholders watch their hard earned pennies dwindle. It’s not nice to see The company has been used and shafted by those across the pond and the plug should have been pulled a long time ago. Things are getting worse by the day , so let’s see what happens now. Large pay packets are at stake , so that’s when things get serious . My message to the board is you have had your chance step aside , instead of spending some of the latest windfall on legal advice move on gracefully before you are forced to walk the plank and be pushed.
Agree totally. The current BOD is not a great fit as they don't have an incentive to take the share price up and they do hold large amounts so it matters not to them if they came back for a placing.
At the same time you cannot just put a bunch of business minded people on the board as you need to understand the process or negotiating a deal in this field, getting lab contracts and building the science side of the business.
It needs a combination of both in my view.
PM, you need a little more than good business people to make this company a success.
You also need an exceptional scientist of group of scientists to:
a) pick the possible winners (Suzy is doing OK at this)
b) see the product through to the end of the pre-clinical stage (so CLX is proving difficult in this respect, do we have
confidence in Suzy sorting out the problems?)
c) be proactive in improving the product (no sign of this happening for any of the products)
d) be skilled at evergreening a product such as 201 that is nearing the end of its patent period (no sign of this happening)
e) be inventive on how clinical trials should be designed (no news in this area for 201 in particular, combination trials are all the rage but no sign of Suzy testing products in combination with other agents)
f) be raising the profile of the pipeline by attending scientific conferences thereby bringing the products to the notice of big pharma (no sign of this happening)
g) finally the virtual absence of peer reviews does not inspire confidence
So, my question would be:
"Even if you had great business people in the company, would the science end up as being good enough to attract real deals?"