Member Info for 1750mk1

I think we are now at the longest time between transformational acquisitions in the history of the company.... historically been around 3-7 months between deals.... I think we are now at around 8 months.

There is an 'acquisition timeline' near the start of the Aug corp update presso ...

https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2019/08/08134242/20190807-RockRose-Corporate-Presentation-final.pdf

Given AA has recently said we are in 4/5 data rooms and 'watch this space' for a deal its fair to expect something this side of xmas ?

It's not just Cav selling ... Mac were selling aggressively before suspension from around 6p levels and have continued to sell since relist, last seen at just under 4% and probably no requirement to notify and further crosses. (sub5%). L&G went sub 3% just after relist.

Cav have 2 funds that RRE is held in... I see it that fund guidlelines are that they should not be holding more than 10% of the fund's mcap in any one stock. RRE was already pretty maxed out for them and after relist and a 150% or so rise, RRE went well over that so they had to rebalance by selling some.

Obviously fund mcaps move up and down as do the value of the stocks they hold.

So.... some fag packet calcs at the mo tells me that at just under 11% Cavendish have around £24m worth.

According to HL at the mo (which may not be up to speed of course) ...

The Cavendish Opportunities fund has a £126m mcap and 11.77% is RRE so around £14.83m
The Cavendish AIM fund (even though RRE is not on AIM) has a £95m mcap (which has dropped recently) and 11.96% is around £11.6m

So total holding in RRE according to HL stats is worth around £26m

According to the last TR1 Cav just trimmed a bit down to around £24m worth ... which would fit nicely, give or take movements, around trimming to stay around 10% or each fund ?

In addition ... AA did mention in an interview a few weeks back that cavendish were sorted regards selling ... this would also fit and explain why they have just trimmed a relatively small amount since.

So could be that Cavendish are about done rebalancing ? ... tbh, originally I was expecting them to drop to around 8% in total but if current mcaps (funds and RRE) suggest 10% in each fund fits them being at around 10% in total of RRE then that could be revised and would suggest they are happy to hold as much as possible within fund guidelines... which is good.

If that be the case then selling pressure is likely largely from Mac, who we know ere keen to sell down in the 6p range ... so will be ecstatic to be selling more in the 18p range... also other sub 3% holders who may be taking profits.

Happy to have holes poked in my $hit maths :)

Dove from above.

... or from Unilever if you like.

nice £10k buy paying over into close.... liking these steady rises at the moment.

much sooner than when we re-listed.

To be fair... it's been very orderly and kept well in range. Many shares would get wrecked with 10% or so being sold down by instis.

40k in 3 back to back trades just gone through... looks like 20k transfer to me but big vol whatever it was and ticked up with it.

yes, isn't that what I said and what the quote from the interims says ?

2k for the both / a 2k (net) boost for the Brae complex.

Apologies if any confusion.

Its 2000 boe/d for both mate ... nice little boost for sure.

West Brae.:
? Noble Houston Colbert to drill two infill wells starting November 2019
? WPGZ and WPOZ are expected to help boost Brae Complex output by c.2,000 boe/d (net) in 2020

From interims:
https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2019/09/24154104/20190923-RockRose-interim-results-final.pdf

that should be boe/d

I think it's around + 2k bopd Lex.

I see its in development ... it is still news.

The clue is in the words "#Integumen are delighted to announce "

Integumen have not announced ... its a tweet.

Regardless of any news published elsewhere.

It's news of a development partnership working to create a 'worlds first'.

My point is that company news published elsewhere or tweeted is not new or an announcement unless RNSd

Tweeted news ...

Gerard J Brandon
@gjbrandon

#Integumen are delighted to announce a development partnership with the Centre for #Skin Sciences at @UniofBradford to create the worlds first 3-Cell fully pigmented 3D Skin to allow @Labskin clients test cosmetics for skin tone colours:

This new fully pigmented 3D #skin model will be available at @Labskin for companies to use to evaluate products for
cosmetic tone matching applications in health and beauty, but also be a pathfinder project to enable future UV protection
and drug effect studies.

"Integumen are delighted to announce" ... only the company has not announced anything. There is no RNS.... just a tweet from Gerry.

Seems odd for company news of a "world's first' breakthrough.

Might be good to see it actually announced by the company ?

RNS machine broke ?

add ... seen loitering outside gate of L'Oreal and front door of Galderma toilets.

of course... he's probably just getting a selfie by the door on the way to the Nestle microbiome summit ... https://www.kisacoresearch.com/events/nestle-skin-health-skin-microbiome-summit

Hanging with the big nerds there ... "so we erm make skin and do AI to it" ;)

Thomas Dittrich joins Galderma as CFO, after co-leading Shire’s strong growth and cash flow generation as CFO. The Company’s Board is further reinvigorated with Thomas Ebeling, former CEO of Novartis Pharma, Novartis Consumer Health and ProSiebenSat1Media AG, joining as Chairman, and Sheri McCoy, former CEO of Avon Products and former Vice Chairman of Johnson & Johnson, where she was responsible for the pharma and consumer divisions, joining as a Director.

The new owners intend to advance the current direction taken by Galderma’s management and focus on accelerating growth further by building on the company’s leading market positions and brands in a sector benefiting from strong innovation and demographic trends.

Galderma will continue to invest in commercial excellence and innovation to meet the needs of health care professionals, patients, customers and consumers. The company will continue to increase presence in the US and China, launch new products and focus on international expansion. The company will keep its headquarters in Switzerland.

October 2, 2019

Galderma well positioned for long-term growth in highly attractive dermatology sector

Experienced management team and Board to build on strong Galderma foundations

Dr. Flemming Ornskov (ex-Shire and Bayer) appointed CEO and Thomas Dittrich appointed CFO (ex-Shire and Amgen)

Thomas Ebeling (ex-Novartis and ProSiebenSat1Media) appointed as Chairman of the Advisory Board

Sheri McCoy (ex-Avon Products and Johnson & Johnson) and outgoing CEO Stuart Raetzman to join the Advisory Board as Directors

Galderma (“the Company”), rebranded from Nestlé Skin Health, today debuts as the world’s largest independent global dermatology company following the completion of the CHF 10.2 billion acquisition, first announced in May 2019. The acquisition, led by a consortium comprising the EQT VIII fund (“EQT”), Luxinva (a wholly-owned subsidiary of Abu Dhabi Investment Authority, “ADIA”), PSP Investments and other renowned institutional investors, was completed following exclusive negotiations with Galderma’s previous owner, Nestlé S.A. (“Nestlé”).

Founded in 1981 and operated as a wholly owned subsidiary of Nestlé since 2014, Galderma offers a range of medical and consumer skin health solutions through three business units: Aesthetics, Prescription and Consumer Care, with combined revenues of CHF 2.8 billion and approximately 5,000 employees worldwide.

The Company will be led in its next phase of growth and innovation by an experienced Management Team and Board, with proven track records in building sustainable high-growth businesses in pharmaceutical and consumer industries.

Dr. Flemming Ornskov, MD, MPH assumes the position as CEO from Stuart Raetzman, who after having led Galderma and prepared the Company for its separation from Nestlé, now joins the Company’s Board. Flemming previously led the transformation of biopharmaceutical company Shire to become the global leader in rare diseases. Under his tenure, Shire grew from a USD 4 billion revenue business to USD 15 billion in five years, before the company was acquired by Takeda.

Flemming commented: “The management and team at Nestlé Skin Health have done an excellent job creating a high-growth, leading dermatology business. I believe that Galderma, as a newly focused pureplay dermatology business, has outstanding prospects built on its existing quality portfolio, team and rich pipeline of innovation. I look forward to working with the talented Galderma team to further build on its success to date.”

https://www.galderma.com/news/galderma-become-worlds-largest-independent-global-dermatology-company-after-completion-chf-102

very, very interesting given the recent (closed a few days ago) acquisition from Nestle by an investment consortium for over $10 billion...

"Nestlé sold its skin health unit to a consortium of investors led by EQT and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for CHF 10.2 billion ($10.1 billion). Rebranded as Galderma, it will be the world’s largest independent global dermatology company."

https://beautymatter.com/2019/10/nestle-skin-health-sale-closes-for-10-1-billion/

ah yes ... he's obviously waiting to use the loos. Mad coincidence that the largest indepentent dermatology company in the world are in the same building.

is he there for the janitor job ? ... equipment is ready just inside the door.