The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
The more interesting question is why they voted against?
Ivy all very last minute that is for sure.. especially if it is Vulpes
GF you were undoubtedly right about the importance to Vote but interested to know did you predict it was going to be an issue or whether you were approached to garner your support.
If so why did the BoD not communicate directly to everyone and we could all make a considered decision if they were aware of the closeness of the Vote which seems likely.
Does not reflect well on the BoD imo.If you know you are in a fight do everything you can to win.
The large shareholder voting against is almost certainly Vulpes IMO.
59% of shareholders voted.
Vulpes hold 15.3% of shares
This makes it 25.9% of the votes cast. So enough to defeat the resolution at this % of shareholder voting.
This perfectly explains why they converted their CLNs the other day.
All IMO of course
Yes Gf you were right seemingly very right however..... too late but now we have a chance... I have never done this before I'm with Halifax but I would throw my 250k in the hat for a yes
Clears up the vulpes conversion now though it was for votes... we just do not know for certain which way but they are on the board!... so I'm going they are for .... could be wrong there though... all good fun this though... game of thrones
Crumbs as I suggested yesterday this was a possibility and it is important for LTHs to vote (for the resolution). If you get hold of your nominees you can confirm you wish to vote or alternatively if you hold shares in your name (as I do) contact the company (RG or Keith Green) and you can fill in the same letter of representation I have completed. ATB
We were all surprised by the sudden announcement of a further placing by Redmile and the amount. Was it a ken jerk reaction to something that's happened at Scancell or was it part of an agreed strategy ?
I think it was over and above the initial investment and has caused this current situation. We were about to do our first Mabs deal but instead we got £30m of extra investment, why?
If its not Vulpes objecting then it must be Calculus ++ !!
Chester.
I think your platform should have sent you a link. Check your notifications on your platform.
To be fair though... these few including a significant holder who voted against probably as boom says via Evans due to the 2-year timeline... I have some sympathy with that... see scancell not communicating too well and clearly to us all...
For WTP
Well a big chunk of that 40% is us lol
It depends how you hold your shares.
If you have your own fund, not held by others on your behalf, read the GM statement, if held by others on your behalf CREST) you need to contact them and advise them of your wishes in respect of the GM vote.
Thanks Bermuda,
Seems more plausible.Having difficulty posting on site and accessing RNS so looks better.
OO oversubscribed is a real positive and shame this other stuff is clouding the news
So over 40% of votes not cast.
Worth noting that David Evans was spot on with his comments on advfn. For those of you who don't read advfn, he mentioned a while ago that one of the major shareholders was unhappy with the terms of the CLNs - specifically the fact that the repayment period was so short at just 2 years.
'The Directors are aware of a number of shareholders who have indicated that they would vote in favour of the Resolution'
Violin Dog,
As I said earlier I feel it may be Calculus rather than Vulpes as ties in with DE post recently about a few large SH being unhappy plus Vulpes converting maybe to support vote.
Adjournment allows BoD to chase up those that did not vote as I am not sure if OO shares are allowed.
Just wish they kept us informed about what is going on
I do not think it is Vulpes
Sorry daft question, but how exactly do we ( i.e. us sharehodlers) vote? What is the actual process, I think like a few of us never actually done this before.
(p.s. I assume we can still vote if they have extended the date to submit?)
Ivy,
Think it's more a case of encouraging those who didn't vote to do so next time.:-
'The Directors are aware of a number of shareholders who have indicated that they would vote in favour of the Resolutions if more time was available. In aggregate, votes to date have been received in respect of approximately 59 per cent. of the issued share capital of the Company.'
Hi Ivy, thanks for the link you sent recently.
Either way, if vulps and redmile are opposing each other this is not good for the company. Could it make redmile reconsider going for over 30%and controling the company??
Again does adjournment mean there will be another Vote with OO shares included and are we going to get some clarification on what are arguments for and against.
We need to try and unravel the question of why Vulpes are against Redmile having such a large chunk of Scancell.
At the very least this debacle tells us that it probably was not Vulpes who encouraged Redmile to come on board and I refer back to my assumption that there is another guiding hand in the background.
Could it be that Vulpes see the writing on the wall in that Redmiles true path is to enable a sale sooner than Vulpes would like ?
Chester.
Violin Dog yep I see that now but surely if it was that close and the more I think it probably does look like Vulpes converted to support the Vote why did the BoD make more effort to make SH aware of the the issue and encourage them to vote
Certainly can't with mine lol but maybe in concert with others