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Just sat down for the first time and read through the circular, this stinks of the stereotypical cesspit AIM share, how could they f**k it up this bad in such a short space of time is phenomenal.
I'll be voting no to the slaughterhouse and take my chances on 'hopefully' a RTO into something decent, where we are sat at a £2M MCAP there will be alot of potential suitors that could RTO here with the right BOD.
Voting yes you're practically diluted to 0 through options and the added bonus of not being able to trade your shares, brilliant news.
Don't get me wrong I still hope this is a 'play' and as mentioned below nothing is written as a certainty, it is carefully worded and very vague. The corruption here to shaft PI's to date is epic, I genuinely thought Alex Snow coming in might change the direction but it seems he is part of the problem.
Too coincidental we announce a partnership with Exscientia on 24/12, then he has options as part of his appointment up to £2m but buys none off the open market (waiting for Gatemore, Sand Grove & Peel Hunt to exercise some options). Drayson killed this company with so much potential by running it the way he did, Snow is the hammer with the final nail for us shareholders. Feel for anyone who invested as 180p to 1p in 15 months is a travesty and the people responsible should be held accountable by the FCA.
Urge people to vote NO as this company has failed to deliver on any promises to date so why should we trust them when they state the resolutions are in the 'best interest' of the shareholders.
ALEX, you had a chance here to turnaround a public company and retain shareholder value, instead you have been a pawn in the game happy to make yourself a ton of money at the expense of people who don't have a hundredth of your Net worth. I hope one day it resonates with you that every £1 you make from this company you have taken from those less fortunate than yourself.
iParsnip - yes £1 for the whole company no one has suggested it was per share!
Do you understand that company the assets that being transferred for £1 to a wholly owned subsidiary of Sensyne Health PLC.
If you are invested in this share then I'd suggest you re-read the RNS in detail rather than skimming over it.
No new information in there other than the GM has been pushed back to the 6th June. possible to Buy more time
£1 for the whole company, not per share!
Spoke to soon there is the usual drop to try and weed some more out!!
Gaddes - have a read of Mo11 post "RNS wording" and see what you think
I was thinking the £1 stated was the mandatory offer ?
Nice to see that we have not had the usual fall in the SP on the open. A few buys and we will be blue very quickly.
You’re all intelligent people so as always do your own research and risk what you can afford to lose. I’ve just given my thought on some of the things that looked odd to me
The circular is for compliance, you will read throughout the circular a lot of things are caveated and the language they have used has been very cautious. You can tell not a lot of thought process has gone into it, feels like information is missing and as I posted above a few things don’t se to add up
How unearth can you think that given the secular. It almost looks 100% certain that the delisting will happen. I love your optimism although I’m slightly confused as to why the meeting was put back from May to the 6th of June.
We predicted the SP wasn’t going to drop as much as everyone thought and the reason for it was because there wasn’t really anything new in the RNS thst we didn’t know about already, majority of the day traders / STH are already out hence since last week the trading volumes have been fairly stable.
Those that hold now will hold till the end most likely. Might get the odd shake off here and there but will be bought into. The coming days are very important,
I suspect another RNS will come pretty soon if the directors intentions were to buy in cheaper Becuase that has clearly failed. Any TR1 with purchases on give us a view of whatever the shareholders are planning.
De-listing isn’t even that bad if you look at it. In short £5m cash already in the bank, £20m more to coming in. £100m already invested, 75% overhead reduction, per RNS 10p minimum valuation and we’re currently on 1.3p. I understand it’s harder to trade being unlisted but a business like this only thrives being listed. Being unlisted is not attractive to shareholders.
As you can read on the RNS that came out a few days ago, so far only Lord Dayson and if wife are in favour of all the resolutions. If you read section 16 of the latest RNS you can see not everyone is in favour Rule 9 waiver resolution.
I think today will be like yesterday, sells will be bought into and may even end blue given how low we are already
Planning on averaging down. Options are much better than usual. Any positive RNS will see this over 10p. I believe things are in the pipeline. Let's hope it happens sooner rather than later
Note 15 in the prior year signed financial statements on companies house confirm that SENSYNE HEALTH HOLDING UK is a direct subsidiary of which 100% is already owned by the PLC. ( SENSYNE HOLDINGS LIMITED is the same as SENSYNE HEALTH HOLDING UK, refer to the RNS appendix)
What seems to be be unclear for me is that SENSYNE HOLDING UK is already a 100% wholly owned subsidiary of SENSYNE PLC. So it already owns 100% of the shares in the holding company so how can it purchase the entire issued share capital of Sensyne Holdings UK if it owns it already???
Also there’s a transfer pricing issue here that doesn’t add up, there will be massive tax implications if they transfer assets to SENSYNE HOLDING UK for £1 as the transactions isn’t at arms length so I don’t even think that’s in the question.
IMO something doesn’t add up, not saying I’m an expert but it doesn’t make sense. I do believe directors want to shake off shareholders so they can buy in cheap
All above my pay grade to fully understand , if any one can explain in plain English would be helpful , I’ve asked an experienced investor and they have said the wording and rns are hard to fully understand as somethings are not detailed ,I find it odd that the SP closed at 1.37 but yet the delist will give shareholders 0.8 or nothing if it gets voted against ???
“If Shareholders do not approve the Resolutions, the Relevant Purchasers will be able to exercise the Asset Purchase Option under the Amended and Restated Note Purchase Agreement and will be able to require the transfer of all material assets of the Group (including the Strategic Research Agreements and other data collaboration agreements) to be transferred into Sensyne Holdings UK, and to then purchase the entire issued share capital of Sensyne Holdings UK for consideration of (i) the sum of £1 and (ii) the assumption by the Relevant Purchasers of all the Company's outstanding obligations in respect of the Loan Notes.”
So this statement is saying if the resolution is not approved then the Asset purchase Option can be is exercised. If this happens then SENSYNE PLC will have to transfer its assets to SENSYNE HOLDING UK BUT then purchase the entire share capital of SENSYNE HOLDING UK for £1 and the outstanding obligations. So in theory it’s giving its assets to a holding company and but SENSYNE PLC then still owns 100% of the holding company -
Have I misunderstood something? So really SENSYNE PLC still owns all the assets?
They are playing with the wording here so much
So what does the £1 part mean , where if it says the resolutions get voted against, I’m amazed we haven’t dropped further today unless I’m missing something?
Gaddes, I believe you are wrong.
If an offer has to be made under Rule 9 of the Takeover code, see below:
"Rule 9 requires a mandatory offer to be made in cash (or be accompanied by a cash alternative) and at the highest price paid by the bidder or any concert party for any interest in shares of the relevant class during the 12 months prior to the announcement of the offer."
Damned if you do damned if you don’t but I think I’ll vote for and hope for a long term turn around and happy ending but could be wrong 50/50
Yes £1 I think
So have had the action request from AJ Bell.
How are we voting? Is it a No from me?
Meaning what? Who is to benefit from this?
Buys outweighed sells, it’s been a good day if you ask me especially after the news we got. Still above the 52w average. Shareholders held on and didn’t give in to the pressure from directors
Reading the circular (page 23), am I right in understanding that if shareholders reject this resolution, the Concert parties would have to make a mandatory offer for the company? Just another way this could play out.
Well it’s not exactly a blood bath! Thought we would be way down today and have been able to sell all morning!