The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen 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.
Not sure what made me top up on 25th May 2022
Tue, 19th Apr 2022 (Alliance News)
Sensyne Health shares plummet as AIM delisting proposed
Sensyne Health PLC shares slump on Tuesday as the company proposed delisting from London's AIM junior market.
The company is seeking approval from its shareholders for the delisting of the shares, in accordance with AIM rules, Sensyne Health explained.
It will hold a general meeting on May 20.
Sensyne Health shares were 32% lower at 1.24 pence each in London on Tuesday morning.
The firm, led by Alex Snow as its new chief executive officer since Monday, amended and restated a note purchase agreement to provide for the issue of up to GBP20 million of loan notes. This brings the total number of loan notes to GBP26.4 million.
The company said the loan notes are purchased - or will be purchased - in tranches.
One tranche of a principal amount of GBP6.4 million was issued to original purchasers on January 28.
Another tranche of GBP6.0 million will be issued to Gatemore Investment Partners I LP, Lansdowne and MNL (Hambro Perks) Nominees Limited on or around April 21.
Two subsequent tranches of loan notes will be issued at the request of the company, with new Sensyne Health Chief Executive Alex Snow, who is the former CEO of Lansdowne Partners UK LLP, allowed to subscribe for up to GBP2.0 million of additional notes.
The company had been under a formal sales process since November.
"In light of the amended financing terms, the board has decided to end the formal sale process with immediate effect," Sensyne said.
The Oxford, England-based clinical artificial intelligence company is also seeking the approval of shareholders to re-designate ordinary shares of 10 pence. Under the plan, those shares will be sub-divided and re-designated into one ordinary share of GBP0.008 in the capital of the company and GBP0.092 as a deferred share in the capital of the company.
A good read reported in April
Article
https://www.thetimes.co.uk/article/e19c97a6-b752-11ec-8c29-375fe0cc1f19?shareToken=b6bbc8bfb5aa39bbcbeac4725d97cd63
Co website still shows Hudson and Tarassenko as Directors although they were gone In June. So even there some detail needs updating.
Indeed postings can get reposted once in a while, a company's career website is the best prime source for new vacancies most of the time. They have a number of vacancies going (and have since the summer).
It says this was posted 11 days ago.
https://uk.indeed.com/viewjob?jk=96310aaa6d161d9f
Group accounts should be published this month. As a PLC, I think they were RNS’d early Oct last year and available on the Companies House website, early Nov.
Also hold a significant amount here.
Great info and update. Thanks a lot, am also hoping for a happy ending here.
Good info. Thanks. Keep updating please. Im Sitting on a lot of shares in the hope things work out!
Previous accounts too have been re-submitted with Richard Pye’s signature as CFO, removing Drayson’s
Drayson’s signature. So Richard Pye has signed off old accounts.
Looks like they are making a clean start with corporate governance too.
This was this time last year. A lot has happened since with the Co though and whether collaboration with Bayer in Lifehub is still ongoing.
https://www.bayer.co.uk/en/lifehubuk-birthday
They seem to have made progress on separating the Co into parts. Looks like they have replaced PwC with Grant Thornton. All the big pharma cos, Bayer GSK etc have recently pledged more investment into AI. It’s whether a sale could still be considered if anyone is still interested or if the loan note holders want an ‘out’ with a realist in the US, sometime in the future. Also how long Alex Snow is willing to further develop the Co.
Sounds positive?
The division Sensyne Health Holdings made a profit of £22.7 m with net assets of £82m year ended Apr21. Grant Thornton audit signed off in Aug. All available at Companies House website.
As of 1st Aug 22 £6.5 m cash balance and £8 m still available to be drawn loan ( loan notes) at discretion of holders.
Divestments “ Complex clinical and regulatory pathway these products must operate in “ are having an impact on timing and completion
Agreement with OUHF Trust to our license SEND
Operations in magnifeye closed jul 22 although Technology available for acquisition.
A very comprehensive auditors report signed off by Grant Thornton just 4 weeks ago. Phesi collaboration seen as a 7 year benefit. ‘Going concern’ still very much in the hands of loan note holders. No divestment completed as of 26 Aug. It’s worth a read through and looks quite a ‘due diligence’ auditors and directors report warts and all.
That is For Sensyne Health Group Ltd, made up until April 2021.
Sorry not sure that link works but available on Companies House website.
£ or $, depends what report you read but the collaboration is valid for 5 years.
It was a £10 million equity investment in Phesi. ( not $ )
https://www.phesi.com/news/sensyne-grows-medical-research-dataset-to-60-million-patients/
One wonders what , if anything, has been happening with this collaboration and what Sen’s investment in Phesi is worth.
https://www.sensynehealth.com/newsroom/sensyne-health-and-phesi-enter-joint-commercial-development-collaboration-with-a-leading-pharmaceutical-company
Just as a reminder … 10 million dollars invested by Sens into Phesi
https://www.phesi.com/news/phesi-and-sensyne-health-agree-collaboration-to-advance-development-of-synthetic-arms-in-clinical-trials/
Wonder why Bayer parted with Exscientia.
Not a whiff anywhere yet of any divestments by Sensyne and I believe it was around the end of 2019 that Bayer signed a 2 year deal with Sensyne.