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Yep I saw that.. but cfds as derivatives can't possibly have voting rights. So leaves two options. It's a mistake in the filling out of the TR1 form or the investment bank on the other side of the CFD trade has hedged it's self and bought the stock and entered into a separate agreement to swap.
Or there is the possibility that I'm wrong.
I shall find out..
12.913 % voting rights through ordinary shares snd a further 1.309 % through CFDs so a total of 14.222%
Deny... Pretty sure they don't have voting rights. They are cash settled, So even if the investment bank who stands on the other side of the trade will settle in cash.
The RNS explicitly says they have
Cfds are derivatives and as such have no voting rights
...Doc83
You seem to assume that logic has some bearing on AIM share prices. 'Fraid not!
Yeah but no but.
If we get another RNS in the next 7-10 days for Polygon then we know its game on
I certainly wouldn’t bet against another Holdings RNS very soon!
Because of the unexpected inherent risks. As I mentioned XEL had a viable oil reserve - flowed at decent rates - what could possibly go wrong?! Humans get in the way!
If the chances of P3 success are genuinely 80-90% (and I really hope they are!) then I cannot fathom why the SP isn’t considerably higher? If successful, I can’t see how this isn’t worth many £billions.
What could possibly go wrong?
What we know;
1. Polygon got voting rights through the CFD's they have at the moment
2. If Polygon get 30% of voting rights they need to make a bid
3. P3 is an extension of P2, that is all. If we passed P2 and we have 2 x P3's going on (remembering Synairgen's own P2 was stopped as results were overly conclusive in favor of SNG001 working effectively) then the likelihood of success are at least 90%
4. We will have some P3 news in the next 2m+ or sooner based on the double blind rules (once all patients results gathered).
They increased appetite for SNG shares considerably since activ-2 progression.
Looks like they think it massively de-risked company future in their opinion. It took them 8 months to built 10% and only a month to built another 4.2%
It seems Polygon agree with Davidol22
Phase 3 trials for respiratory drugs are 80% successful, but that 80% is on average .
We are during pandemic, we had amazing p2 results and we were good enough to progress to p3 in activ-2.
I can’t see this not being north of 80%
I confess to not knowing anything about the hidden plans of the likes of Polygon. However, I rest easy in the fact that
1.SNG has been derisked considerably following the recent Activ2 - 3 news
2. The company leadership is excellent and wants to maximise the return for the shareholders, be it with a takeover or a licensing deal
3. The treatment makes sense, is agnostic, has long term non covid applications
4. The likes of Polygon are likely to want their pound of flesh and also get maximum shareholder return like us.
Am I naiive? Holding very strong and amazed at the lack of media coverage, they really are either useless, lazy or both! Well done to the Daily Express, not my usual read :)
Davidol22, my understanding is that phase 3 trials are successful anywhere between 60-80% of the time. I’m basing my investment decision on the very low end (seems sensible) and pointing out that even at 50-60% chance of success, the potential upside is very attractive.
We have looked at why Polygon would want to acquire the CFDs as it gives them an additional 1.309% voting rights for minimal capital outlay and without spiking the share price up.
I am interested in others' thoughts as to why the 4 counterparties would be willing to forgo any future gain on the SP at this stage in the proceedings and in unison? I appreciate that there is an element of de -risking their investment but I am not so sure I would do the same with my stakeholding given how progression to Active P3 has to an extent de-risked the SP.
Interested in your views. GLA
What he means is 50 % home trial us works and 50 hospital national works , which means it works 100%
Doc83? Where did you get 50/50 from? Are you serious?
That’s ridiculous
Yes, agreed it's way better than 50/50 in my opinion.
But as you pointed out, even at 50/50 it looks great.
Barry we know the treatment works with no ill effects so we have a lot to be excited about!!
I hope you’re right. Just trying to keep my feet on the ground and not get too carried away.
more like 90/10 doc :)