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Is anyone going to Jersey for the AGM?
Good morning,
Can anyone advise with AJ Bell issues please?
Trying to get information out of them for voting etc is painful!
-- BB --
Steve, I appreciate your caution and yes I did suddenly appear after lurking for a long time so understandable. My grasp of the situation came from measured research of available material and I’m just a PI with absolutely no affinity to the company. Hopefully you can see from my posts that I share the grievances expressed on here around poor communication/admin and also on broker failings (a long term windmill I have often been tilting at).
I have just read over my earlier posts and can see how it may have looked like I was trying to sway opinion on the AGM – absolutely not my intention and I was just trying to be balanced and informative for posters who were perhaps uncertain about some of the terminology and processes. I fully endorse sending whatever messages necessary to company directors when they come up short - another windmill on another hill :(
Hi Corry,
Thanks for the reply - the reason I asked about your background was because you seemed to have a good grasp of the situation but (to me at least) you seems to have just appeared - I did wonder if you were Brett Skelly in disguise lol
So I'm more calm than yesterday after your replies but still wonder if we need to send TB a message that we are fed up being taken for granted and kept in the dark.
For a Director to blatantly abuse his position to drive the share price down to buy back again cheaper shows he has no scruples yet for all his faults he has the potential to drive this forward - whether or not we carried along on his shirt tails remains to be seen.
Steve, in reply to your post at 11:55am today (apologies for the length, make a brew first):
On the brokers not knowing/checking what is going on or what is up to date – surprisingly common. Retail brokers are often high volume/low margin businesses and simply don’t invest enough in their platforms to keep on top of all of this. I have sometimes found them giving out completely false and potentially damaging information because they haven’t understood communication from a company.
I mentioned before that they may have hurriedly put together the current voting option and maybe didn’t check the detail first. The flying brands website may be a historic link on their company resource page which wasn’t updated after Oct 2018 when the name was changed * – whoever prepared the voting page wouldn’t know that, but maybe still should have checked it given the name is very different. It may even have been a field that was automatically populated from their database when they created the voting form and so wasn’t spotted at all. On ii, it doesn’t even show the web address in the link, it just shows an internal ii address but then automatically opens a new window with that dodgy flying brands page without warning!
As for me – I have a background in corporate finance management and financial services which gives me a good starting point, although not recently. I’m fairly well versed in company and stock exchange regulations from that, and in market dynamics through frequent research, and these things apply to every company hence me knowing about the AGM resolutions and procedures, which are all fairly standard here (other than the lack of RNS!).
I learned a lot from reading these boards over the years so happy to contribute back where I can hopefully add value, and help answer questions I likely asked myself at some point. This has been on my watch list for ages and I often check posts on here so had a broad idea of everything going on. Hoping my posts are balanced and well received but obviously happy to be challenged if anyone disagrees or needs to correct my (lengthy) musings, we all learn from the discussions that way.
Best wishes
Corry
* I have just had a scan through the RNS history on here and I can’t see anywhere that the company notified the market of the change of website address, so brokers may never have known to change it. Previous RNS often just referred to “the Company’s Corporate website” without stating what that was, until maybe around April 2023 when the new site address started appearing on them.
Tyke,
I reported the issue to HL at 11am this morning and I've just checked at 7pm and its still the same Flybrands crap. Initially the person I spoke to did not really grasp the problem so I then had to send screenshots etc so it will be interesting to see if HL can get their act together - we will see.
Do we know who is attending from this board?
Steve
Afternoon
HL update, still no reply but found the location on the account page via the website (not the app). There is a shareholder meeting button on the right hand side. If you have a SIPP, ISA, share account etc you need to vote for each holding via the same page. All very easy once you know where to look. I hope this helps people.
In my opinion it doesn’t matter how you vote so long as the Board know you are checking , aware etc.
I hope it is better weather in Jersey for this making the trip and I would like to say thank you to those who do attend. I honestly believe in the company and technology but the board needs to start taking their fiduciary responsibility to all shareholders seriously. Hopefully people’s votes and attendance will encourage this change.
Thanks
For clarity I mean the links on broker websites and any reference to flying brands. The IQAI link I provided earlier is legit and is also on previous corporate RNS that they have issued.
100% concur - thats why I was panicked very late last night because I'm thinking if IQAI were associated in any way at all with that Flyingbrands website spam I'd be selling asap but they are not.
For clarity I mean the links on broker websites and any reference to flying brands. The IQAI link I provided earlier is legit and is also on previous corporate RNS that they have issued.
Warning - if anyone is seeing the same website links that Steve and I mention do not click on them. It looks like ownership of the old domain name has been dropped and since been picked up by someone else and rehashed for their own unknown and possible nefarious purposes. This happens a lot with old domain names across the entire internet so always best to check through your browser if unsure.
Steve - I'll come back with a reply to your post later, just wanted to get that warning out for now.
Hi Corry,
Thanks for the reasoned reply which HL are currently looking into - at this moment I'm 95% sure you are correct as they were struggling to understand my query on the phone and I have submitted screenshots etc so their "experts" could look into it for me. It it is HL I am appalled how any broker could be so lazy as to send you to a 9yr old link that looks well dodgy like someones N igerian uncles nephew has knocked up in their bedroom.
May I ask how long you have been invested here - you obviously don't have to answer but you seem very knowledgeable and placid regarding the company and seem to know your way around an AGM?
Thanks,
Steve
Steve124 - the dodgy links in the voting section on HL are a mistake by HL, not IQAI. interactive investor have done the same. The brokers haven't updated their own records after the name change from flying brands and subsequent actions. I suspect the brokers have also been caught out by the lack of RNS to notify the AGM so have now rushed out the voting option to meet their customers demands/enquiries about it, without checking the details first, because the deadline is coming up soon.
The link they should be providing is https://www.iqai.ltd/
Scroll down to the bottom of that page (or click on publications in the top right corner) and you will see the correct links for the AGM Notice, the proxy form (which you don't need if you are voting online) and the 2023 Annual Report (which is to be voted on under Resolution 1).
Perhaps you could notify HL of the error and give them the correct link so they can update, Tyke maybe do the same? I'm going to do the same for ii. Trek, if you have time maybe kick ii as well - the more shareholders that complain to their brokers the better service they will give.
If anyone with other brokers hasn't had any communication or voting options at all then it's maybe because of the lack of RNS to prompt them. If all they have is a letter or email from the Share Registrar then that could be gathering dust in an inbox and then conveniently forgotten about after the event. You could also give them a prod and send them the link above to see if they respond to help you.
thank you all for your replies and thoughts.
in a nutshell, i believe that the ib guys are doing a superb job that could benefit mankind in its treatment/detection of terrible illness's. i have got nothing but admiration for everything the medical guys do to further medical advancement and knowledge. however, i don't have the same beliefs that our directors necessarily share that same outcome (ie to benefit mankind). in an ideal world, the directors lead by example but all i'm seeing is a company benefiting primarily one individual and his extended family rather than all shareholders.
i just feel the lack of transparency is insulting and in general these meetings are an opportunity to voice our disapproval at the way the loyal lth are treated.
the upshot is that once the share price rises , the peasants will stop revolting, and i genuinely expected news to land before the agm to quell the dis-satisfaction most of us probably feel.
when i go to my hl account and go to the voting page, it tells me there are external links to click for more information.
when i click on that it takes me to a dodgy looking webpage called flyingbrands. the page instead of explaining the resolutions is advertising algorithmic trading bots.......wtf?
a quick search on companies house shows 8 companies all dissolved with similar names 9yrs ago, all with links to tb and price****house - hardly professional and confidence building.
i hope i'm wrong but i just get the feeling that we are being used to fund the company until the discoveries are published and then it will be taken from us with little or no reward for borrowing our money all these years.
hypothetically speaking, the ib guys could find a cure for cancer and end countless suffering but would our illustrious leader be driven by the thought of winning a nobel peace prize or taking the company private the day before the announcement was made? and for those that say, just sell if you aren't happy, i say no thats what this voting is for.
Steve124 - sorry to intrude as I see your question was to Tyke, but just to help put your mind at rest on a couple of things:
The wording about setting their own salaries I can't see in the notice so wonder if it's the bit in resolution 4 that concerns you - "to authorise the directors to fix their remuneration" - that relates only to the remuneration of the Auditors and is a standard wording in most company AGM notices.
The 105% limit for share buybacks is fairly common as well. It means they won't be buying back shares at too high a price as they are limited to 5% above recent average mid price for any purchase instruction. That could be seen as a good thing as it stops them buying unnecessarily high during periods of high volatility and also deters anyone from trying to pump the share price purely in the hope that the company will automatically buy their shares at an inflated price. It is shareholder's funds they would use to buyback shares so you would want them to do so responsibly and this point maybe helps that.
Not trying to influence your voting decision in any way, just trying to explain how these two points are normal AGM resolutions for many companies and are not designed with anything ulterior in mind. They were voted on and passed at last year's AGM as well.
Steve124
You have given me a lot to think about. Regarding RNS-ing information. It is expensive to issue an RNS. I can't recall how much but there is a cost. So many companies will (wisely, I think) not RNS information that does not 'have' to be RNS'd. I think there is a certain category of news that 'has' to be RNS'd.
I think another poster here explained that the buyback info is standard. Perhaps there are similar paragraphs on the annual reports of other companies listed on the main market - I haven't checked. I don't know. But I would check if that issue concerned me.
Why are you/we underwater? The company had to raise funds. A lot of posters on this board - and I also made the same mistake- fancied the company was making more money than they let on. Or valued the company according to its potential? But I guess cash is king,. I first bought this stock because I liked the potential - then I looked at last year's annual report and I looked at this year's report - the numbers/figures offered a very helpful perspective.
Steve thanks for the info. I messaged HL but no reply or voting pack yet. I am in a similar situation to you with the paper losses. I wouldn’t be surprised if between us on this board and others we own a considerable amount of stock so the board could be in for a surprise if we all rejected the agenda items. How many shares percentage did TB say on another board required to start asking awkward questions. I am sure somebody will remember. Let’s see what happens.
Thanks
Hi Tyke,
Sorry if I am telling you something already known, but I am with HL and I have just got a voting pack to look through. I've only just found this.
Just had a quick scan (not detailed so I may have the wrong end of the stick) but I find it a little concerning that we have been kept in the dark over most developments (unless you happen to be on X) and there seems to be lots about share buybacks at 105% of market price.
Maybe I'm paranoid, but I expected the price to be between 5 and 10p by now, especially when they were 21p when I first started looking at these. I'm worried there is a plan afoot to fleece the LTH somehow by these buybacks and issuing new shares etc and the bit where they can set their own salaries when they can't even be bothered to rns information any more worries me. I have over 3 million of these shares and am 60% underwater which is crazy as we are in a much better position than January when we were 5p.
If we all vote to reject the proposals at least it will send a message that we are fed up of being taken for granted.
I personally think big things are planned or in the pipeline but I'm not convinced our board are working for the benefit of all shareholders.
Thanks for reading my ramble.
Thanks Kane
So that’s us expanding our reach to the Netherlands. I wonder how much all these researchers are paying to use our technology?
Enjoy Jersey, I wonder if they are putting on a buffet and drinks for all the shareholders?
Thanks
We chose to use IB software for our study on perfusion analysis as it allowed for quantitative analysis of standardized perfusion metrics in whole glioma lesions while also being user-friendly." Siem Herings.
See you at the annual
@TheASNR
meeting!
https://www.auntminnie.com/clinical-news/mri/article/15670669/imaging-biometrics-highlights-glioma-study-results
Xviolet
I also think in the long run it will be ok, the technology is proven and the drug seem to be going in a very positive direction led by the FDA.
I think what upsets most people are all the shenanigans and lack of communication. How many of us would have missed the AGM if Shrek hadn’t posted it? I would have. We just want to know the truth, good or bad so we can make our own minds up based on all the facts. So hopefully if the board read any of these posts we may get more updates and then some us can stop doing all the research, googling etc. We don’t even know where we stand with GBM and PRDD. It is all too much cloak and dagger. News can’t exactly spook the market, it can’t drop much more. Just tell us what is happening that is all we ask.
Give us shareholders some faith in the company and the trust in the board will improve.
Thanks
I hate to say this but...
maybe everything is going to be OK. if you are uncertain, then sell up. but it would seem crazy to sell at these prices - this is a buy price. even if you have doubts, this is a reasonable buy price. you might get a lower entry. you might not.
Update
got a reply back from the shares registrar. As Trek has said you need to do it through your nominee company. No reply from HL as to where they stand on how their customers votes. I will keep people informed when I hear back. Hopefully people do vote, however they feel, just so the board knows we are watching etc
Thanks
That's in Resolution 5 which is to allow the company to buy it's own shares in the market, i.e. a share buyback.
It's a fairly standard resolution in many main market companies and just copied over each year, amending the max number of shares as appropriate. Doesn't mean it will happen, just gives the company the authority to do it if they wish and it's more efficient to include it in the AGM each year to save calling a separate EGM and therefore delaying the process.
Bertie
It was in last year’s special resolutions as well. Still not sure what it means.
Thanks