George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
They are a fox after all... they scuppered a rising sp for no to us comprehensible reason at the time....
They support the OO but are dead against redmiles 17 million injection or at least the way it is done...
How do we know they are after the shareholders best interests themselves?.... redmile may have scuppered their own plans which may well not have played out best for us... anyways like I say hope they stick around we need as many big holders as possible.
Everyone has an agenda, it does seem Redmile have crashed Vulpes partym where I saw it as first as being part of Vulpes agenda it may be the amount Redmile have come in with might be the issue?
Though with them doing their conversions to get more shares for a bigger vote does show they really really are not happy with these redmile conversions...They haven't bothered to tell any of us why though and again we saw them do the dirty on the sp once before so...
It really could be as simple as that ... again by AGM we may know...
Perhaps Vulpes had a vision of smaller dilution raisings. It could be as simple as that.
They are happy with the OO though!
Yes C7 this is how I'm seeing it... redmile coming in or at least the 17 million conversion loan part does not line up with Vulpe's own vision of scancells progression. Why? ....
Exactly, I think also to a certain extent we forget Scancell have advisers too. So perhaps it is just a case of being good for Scancell but outside the personal agenda of Vulpes?
Ray Lindy will be I want that money now!
It has been the stumbling block that has constantly held her up.... however she also knows the market value potential of her techs too.... We can all hope first there is success in trials (of course) second we all go along for the ride together and get to share in rewards equally...
Maybe the diggles shouldnt have been selling already then :p
So the reading of that is... all the directors 'except' Diggle ...
'consider that the terms of the related party transaction are fair and reasonable insofar as Shareholders are concerned.'
I would guess LD is just dazzled by what she can achieve with the amount of money now coming the company's way.
Ruck. 51% would be a big issue as they could then get virtually anything the want through as they would control the majority voting rights, that would mean the BOD and everyone else would be minority share holders. Whatever they do in the future they need the BOD on side especially LD most of the others do not really matter and can be replaced. But not the CSO. IMO
'The independent Directors for the purpose of the Capital Raise, (being all of the Directors except Martin Diggle who is a co-founder and portfolio manager of Vulpes and a non-executive Director), having consulted with the Company's nominated adviser, Panmure Gordon, consider that the terms of the related party transaction are fair and reasonable insofar as Shareholders are concerned.'
Konar, Falsedawn,
Thanks for explaining that, that's reassuring. I didn't think it was as high as 90% though, I thought majority 51% would be enough.
Hi Crumbs, Related Parties paragraph of the 12th October RNS
@falsedawn - correct. They only have to make an offer at that price. They cannot force you to accept it unless 90% of share holders accept the offer.
I do hope Vulpes stay.... that they could be willing to push for more of their own control would not be a bad thing (hope there is no bad feelings withing the BOD,if possible)...
The best outcome.... great data coming in on all trials... BIG money pharma deals we have seen those on early data -$1 billion upfronts...a NASDAQ listing and vulpes redmile and anyone else can then leave as they please :) all happening by 2 years time....only possible with this funding though.
Ruck you say "What's to stop Redmile converting the August CLN's, getting to 30% and buying the company for 17p/share (highest price the last 12 months)?" It's not the highest price the shares have closed at, it is the highest price the holder with 30% paid, at the moment that would likely be 13p. They would only be compelled to offer their best price nobody has to accept it so it is not a worry for me. Hypothetically only at 90% holding can they compulsory purchase the remaining 10% of shares. To get to 90% they would have to buy at much higher prices than today. If they want the whole Company it will only increase the share price as they buy on the open market. There are various other trigger levels between 30% and 90% holdings where things have to happen be offered. IMO the biggest danger is Redmile get enough to delist the Company, I don't see that happening thou.
Thought about it and voted yes... I believe Evans was planning on voting yes (from his last posting about this) too even though he expressed concerns and that there were others with concerns... well we are all concerned at one holder gaining full power but I'm more concerned at never seeing a moditope in a trial!.... Diggle or any other big no voters has not come out to talk to us so... if he would like to.... we are here!
Even so, I think we should all think carefully about which way we vote. The deadline is 3rd November (I believe) so plenty of time to debate. As has been said by many this morning, we really should be given more information on the pro's and cons.
What exactly is all this money for?
Why is a major shareholder opposed?
What's to stop Redmile converting the August CLN's, getting to 30% and buying the company for 17p/share (highest price the last 12 months)?
So let's just think about this.
Error noted.
Thanks
Ahh, so those already voted need do nothing but can if they choose change their minds.... not likely though?
Barb, sorry you are incorrect. Extract from the RNS you can revoke. "Proxies already submitted for the General Meeting remain valid for the adjourned meeting unless otherwise revoked prior to 10:00 a.m. on 3 November 2020."
Yes is it not that they want to get as close to 100% of votes in as possible not a complete re-vote?
As stated in RNS there are some shareholders who have indicated they need a little longer but intend to vote yes... not sure how scancell came to know that lol or why they needed more time... sounds a bit made up to me