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JB, and everyone else,
Thanks for following up on this.
I got a random US Biotech investor type connection on one of the social media channels so I could not resist mentioning Scancell. With the drop in the £, Scancell looking like a bargain!
C7 and Bermuda. On your good advice I emailed Richard Goodfellow yesterday.
Richard has just kindly emailed me back stating "I have forwarded this to our Finance Director who is currently on annual leave. He will get back to you on his return. Thanks for getting in touch."
As soon as I get a response from the Finance Director I shall share it on here.
JohnnyB1
Just got in, saw your response re Scancell info request.
Thanks.
I should have asked. Has anyone got Richard Goodfellow's email address?
Yes indeed . A wicki drafting and for all your work to go unnoticed is a bit poor . Web activity and www branding needs brushing up
That’s helpful to know,
I sent them a heads up about the Wikipedia draft, but heard nothing back.
Might be worth me dropping them a line to say that the website functionality isn’t there. Would hate for them to miss other more important things.
C7 and Bermuda,
Thanks for the advice. I shall email Richard Goodfellow. ATB
Johnny,
I think there may be a glitch of some sort with the contact function on Scancell's website. I've only tried once to use it and didn't receive a reply, so I followed it up with an email and received an almost immediate response. Completely up to you of course but I'd suggest emailing Richard Goodfellow directly.
Morning Johnny, in years gone by I always communicated directly with Richard Goodfellow, who more than often than not replied within 24/48 hours.
Perhaps resend it for his attention. ATB
Hi AB124,
I sent a "contact form" to Scancell on the evening of Wednesday 18 May asking for clarification on the "holdings of significant shareholders" detailed on their website. I have just checked my emails and Scancell have still not replied. Rest assured that as soon as I get a response I shall share it on this BB.
I have not contacted Scancell before; does anyone have any experience of their usual turnaround times? (I realise that the nature of an enquiry might affect the response time).
Johnny B1
Did you ever get a reply from Scancell re holdings?
JohnnyB1
In the spirit of reciprocity!.
ATB :-)
I have just emailed Scancell to see whether they are willing to clarify this matter.
Thank you C7. I am busy gardening today plus my car is in a garage for brake work. I have only held shares since about March 2021 so it would be quite a digging job for me. If I get the time later I will try to find out.
Good research Johny, do you have any idea what the average buy in price for Redmile and Vulpes are, covering all their holdings? Thanks.
AB124, thank you for your comments, I appreciate it. Your 00.25 post states “all in all I'm not sure the evidence is conclusive that Diggle holds them is correct”. Just for clarification the wording of my original post was “Conclusion: 2,380,952 shares sold to "a private individual" must have been sold to a Director of Scancell, Martin Diggle I suspect.”. So I am only suspecting Diggle.
In my view there are 2 possibilities:-
The 2,380,952 shares sold to "a private individual" must have been sold to a Director of Scancell OR
Scancell have made a gross mathematical error in their identity of significant shareholders as at 8 December 2021:-
https://www.scancell.co.uk/share-info
Looking at the facts:-
“Scancell Holdings plc Directors and related holdings” held 19,242,678 shares as at 10 August 2021. As at 8 December 2021 this figure has dropped to 14,782,997. This figure is only 4,459,681 lower (i.e. the number of shares sold to Redmile). Allowing for the 2,380,952 sold to a “private individual” this figure should have dropped by 8,773,960 (i.e. 4,459,681 in respect of Redmile plus 2,380,952, plus as Bermuda points out 1,933,327 in respect of Lindy’s remaining shares that she jointly owned with the Trustees).
It is worth noting that the Total number of shares in issue at 8 December’21 is 815,218,831 is the same figure as at 10 August’21. So the 1,933,327 jointly owned shares still exist somewhere under the heading “Scancell Holdings plc Directors and related holdings”.
We know that the complete transaction had definitely gone through over a month before 8 December 2021. Scancell published its results for year end 30 April 2021 on 29 October 2021:-
https://www.scancell.co.uk/Data/Sites/1/media/fininfo/annual-report-to-30-april-2021signed.pdf
Again I refer to page 20 thereof which states:-
“Since the year end, Professor Lindy Durrant has sold 6,840,633, joint ownership shares previously awarded to her through the Scancell Employee Benefit Trust and no longer has an interest in the 1,933,327 shares which were held jointly by the Scancell Employee Benefit Trust and Professor Durrant.”
FF
For clarity and the Official document.
Section F applies. (P130 on).
https://www.thetakeoverpanel.org.uk/wp-content/uploads/2022/02/The-Take-Over_Bookmarked_09.02.22.pdf?v=25Jun2021
Hope this helps (and confirms)
wondering where Crackin has gone , because once again I think news and an RNS that I think is on its way soon will. lift this share and we know how fast it can move !
does anyone have the data ?
RR
Requirement for a mandatory offer: Where a bidder is interested in shares carrying 30% or more of the target's voting share rights, the bidder must make a mandatory offer in cash at no less than the highest price paid during the preceding 12 months (often referred to as a "Rule 9 offer").
https://burlingtonslegal.com/insight/when-do-you-need-to-make-a-mandatory-offer-under-the-takeover-code/#:~:text=An%20offer%20under%20Rule%209,the%20announcement%20of%20the%20offer.
AIMO
I don't believe at the moment there is any chance in hell of a triggered T/O from RM. End of for me. GLA
AB,
Based on what rule?
I believe at the moment a MINIMUM price for a triggered T/O from RM would be 20.38p/sh.
AIMO
Thanks for your thoughts. As you say, the data from the trials is a key driver.
At one point there was speculation about the minimum price of a RM takeover. I was merely asking if that should happen, would the price be north of 20p rather than around 13p.
Like others, I'm keen for the tech Scancell has developed be evaluated through the trials. Obviously, I hope that those who would benefit will have better options as a result of the the extensive work Scancell has done.
LL
If I understand your point about RM wanting to take the company completely, I bet that's the last thing they'd want. As to the reason for the share release to LD who knows what or who started the ball rolling?
Hoping to see the SP do the right thing when we get some DATA. I remain of the opinion that'll be the value driver here.
AIMO
So, am I being too simplistic in thinking ingredients that Durrant wooed RedMile, who if they had to buy on the open market, would have sent the price skyward?
Also, should they want to take over the company, the price would need to be at this price, and not the 13.x p point?
With day traders exiting at 14p, hopefully the share price will stay well above the 11p entry point for a while - I hope they find better targets.