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Thanks all for your comments.
Existing Shareholders who hold shares in the Company and are on the register of members as at the close of business on 21 February 2024, will be given a priority right to participate in the Broker Option
So as this paragraph from the RNS is not true, surely we should have some redress from a regulator?
The problem of having so many eggs in one basket is when it drops from 5p to 1.5p and you don't know the reasons why (we all correctly guessed) but they had inside information and if the trials had gone badly and they were selling before the bad news hit it can cause you to worry (in this case unduly I think) but previously I'd lost £40k in NNN and am down £50k in this now due to one persons greed.
Steve I rang Peterhouse and spoke to Duncan Vasey who oversees Iqai to obtain these extra shares before the completion time. He nearly choked and told me to ring my broker who I had informed who it was. I rang them and they were not nominated to deal with it so we were all stitched up. So D Vasey is as slimey and untrustworthy as the Bod
My previous post re this as disappeared
Steve
I have asked that previously and nobody answered so I would assume no.
We seem to be having quite a few big buys today but the sp has only marginally increased. We need some massive news to get this back up to 5p or indeed even beyond.
All over to IB now
“In IB we trust”
Thanks
Existing Shareholders who hold shares in the Company and are on the register of members as at the close of business on 21 February 2024, will be given a priority right to participate in the Broker Option and all orders from such Existing Shareholders will be accepted and processed by Peterhouse, subject to scale-back in the event of over-subscription under the Broker Option.
Can I just clarify if any PIs got offered any of the new shares ( I own 1% of the company and I was never contacted to see if I'd like any)?
Hi Jimzi,
It’s not the 300k as cash, the reason for the 300k, the EAP, could be all smoke and mirrors to get stock as alluded to by others. The company has not raised cash for well over a year being run successfully on grants and revenues.
I can’t imagine that they haven’t had any income from IB now or something more meaningful from the LA hospitals. We have also had a recent grant top up.
So whilst the monies will be used for the EAP, ostensibly the reason may have been to grab cheap stock.
But I also agree now all the CLN’s are burnt there could be another around the corner which looks more likely than the sp enhancing arrangements that investors were promised in numerous RNS’s.
Thing is I actually don’t mind the CLN if it’s transparent and linked with a value enhancing event. Like cash for a phase 2 together with a reasonably discounted insti & PI placing or better still a JV &/or asset monetisation.
There is so much going for this company. So many options and unique science. A real pioneer. It’s just about time that the BoD were as serious as KS and JC are about delivering!
Yet again the Bod room has let down the Lab, it’s gotta change and there’s time and opportunity ahead to do so.
This still remains a realistic moonshot opportunity so it isn’t meant to be easy. Just not this difficult!
Usual caveats
Trek
Cautious
Thanks
that’s what I thought.
We await website update
I'll ask again - how long is 350k going to last. No guidance given of course, why on earth would you inform PIs of something so important? Bet you CLs will rear their ugly head again - as there is no financial info to assess / analyse, we are totally in the dark and the fiefdom continues to be ruled by our absolute monarch. I hope the FAB family remember the peeps who bought at 5p last month on the good RNS & based upon majority shareholder support assurance.
If we don’t get a Tr1 it means she has partaken in the share offering and could take up to 2million more shares without a need for a Tr1
Max
Yes KS currently we think less than11m share so less than 5%. So hopefully we do get a TR1. The webpage hasn’t been updated yet.
Thanks
Cautious thanks for summary
Still 5% unaccounted for. ?
Let’s hope the IB crew are being looked after
Just a note with new total shares in play wouldn’t KS fell under 5% today
Hence more TR1
Good helpful summary thank you cautious.
Buyers should logically return now. I base that on that I have been thinking about buying back into AVCT given the sp post funding but I still keep seeing more % upside here from this lowly mcap and both have great intentions.
I think the MAR, if anything comes of it which I doubt, at worse it would be a phone call, may at least motivate some better shareholder engagement.
All folk ask for is some transparency, regular accurate comms and proper engagement. Not dragging out some apologetic scientist to do TB’s job for him!
Get that and the SP will move north. Then you never know the next time they raise they could ask us and you may find that PI’s are prepared to cough up much bigger sums to support their investments!
Usual caveats
Trek
If people get no joy from Trek’s link (thank you) it may be wise people submitting Freedom of Information requests relating to IQAI. So if they get a lot FOI regarding alleged Market Abuse they may start to take note. Just a thought.
https://www.fca.org.uk/decision-tree/how-make-freedom-information-request
Positive note, nice to see all the buys today
Thanks
Cautious
Thank you for that information
“In IB we trust”
Good luck to everybody
Thanks
And that is the point Caurious, Browns not going to sell at a loss, Trevor nether does! 10p here we come😃
Well done Cautious!
On Oct 3rd Fab had 18.2 million shares, on 22nd of Jan that was down to 7.2 million and hadn’t sold any since. Difference of 11 million. Today after the placing they have 19.6 million.
T Brown share quantity has not changed since his CLN conversions. His percentage has only changed due to there being a large amount of shares in the company
T Browns two recent CLN conversions equated to 13.5 million so Fab reduced by 11 million to accommodate this. So basically this reduction and changes were down to mainly the CLN conversions. Still doesn’t excuse him for taking a placing at too a lower price
After the placing there is still over 5% of shares not accounted for as yet
That 300k was mine yesterday and I’ve took 750k in the last week to reduce my average and knowing the Browns aren’t going to sell for a loss
Done my submission. It was harder working out the I am not a robot puzzle! Was that a car in both boxes or one!
This is all I wrote if it saves anyone time.
“ Unusual trading behaviours. There was a heavily discounted placing taken up by Trevor Browns family investment vehicle FAB which should have been market confidential. There was no rational for the placing price of 1.5p which seemed disproportionately heavily discounted as the stock was sold down in advance from 4p to 2.6p by the same entities who then took up the 1.5p placing. Please can you verify that these trading patterns were in compliance to the market rules. Thank you.”
It will go in the in trays with the other hundred thousand moaning PI’s lol!
Still it shouldn’t slow down the progress of the scientists and honestly I couldn’t care less anymore about the money here. I invested as a main reason to give hope to some of those sufferers following the loss of a loved one. And if I make a few bob happy days.
I didn’t quite have this in mind though when thinking about bringing relief to suffering!
Usual caveats
Trek
Trek, it’s done now, you can’t beat the man/ system, I just want to recover my losses now and move on at some point, look at Hemo/Avacta, same happened there, I think Hemo was worse than IQAI! Sentiment is good but it will not go anywhere but as you said it might flag up for the future.
Below is the link. You just fill out the form at the bottom of this link and send. It’s really that simple.
https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual
It’s obviously insider trading as the left hand shouldn’t know what the right hand is doing in an ideal, fair and transparent world.
If it stinks like this then logically there is a smell. But is it just pushing the spirit of the law as opposed to out and out breaking of it. It happens all the time.
Look at how other placings are forward sold before they are even announced. The brokers know what is going on but it’s a common cultural practice at the cost to excluded investors. No one has challenged it hence it continues.
There is no protocol for a placing price in the small cap world. Imagine if BP did a placing at 200p. There would be hell up. Calls of crooks etc!
The irony is that the brokers are supposed to be following the same rules and the same spirit of those rules for small caps and yet they decide not to because that’s what they have always done.
It’s no different to the subprime behaviours but they don’t see it as it’s institutional. They think they are above the law when it suits and use the excuse that the PI’s know the risks when investing.
Yes that is true to a certain extent but you don’t hide behind that mantra to justify your own machiavellian behaviours to your own financial gain at another’s expense.
They will spin some crap that without them the smallcaps wouldn’t be funded and SP’s would be on its knees. Well hello have you not looked at what has exactly happened! No one trusts aim/fledgling/microcaps or the brokers anymore. Money is leaving the market because of these very reasons!
Their behaviours that they think are doing us a favour are the very reason why many are not investing and it becomes a vicious circle perpetuated by the greed of a few and toothless complicit regulators and brokers.
It’s worth filling the link out just to flag this stuff up.
I would do so on the basis that….
‘there was a heavily discounted placing taken up by Trevor Browns family investment vehicle FAB which should have been market confidential. There was no rational for the placing price of 1.5p which seemed disproportionately heavily discounted as the stock was sold down in advance from 4p to 2.6p by the same entities who then took up the 1.5p placing’
I am not expecting the MAR to do anything but at least it puts it on the radar and may eventually lead to a much needed change in rules and culture.
Usual caveats
Trek
Oops…impatient to the patient lol
Well someone just picked up another 300,000 shares at a good price, don’t think it will be long until we are back in the 2/3/4p range, just up to people if they want to pick shares below 2p, I picked up 30,000, yesterday might buy more next week if still below 2p
As FAB too £186k of the £300k placing, it means they will not be selling any time soon. So the volume of shares to be flipped is way less than it may have been. Indeed, Peterhouse may have forward sold for its clients.
This means any good news and we need big news, should result in good price appreciation. We will see.
Wow…not a transfer of wealth from the patient to the impatient with this one…just the PI’s to the main shareholders…disgraceful
Company confirmed to me it has when stated in RNS