The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Curent timetable for NICE appraisal:
Diagnostics consultation: 1
17 May 2023 - 07 June 2023
Committee meeting: 2
27 July 2023
Expected publication:
25 October 2023
That last date is only 'expected' because it's probably subject to the progress made by GDR in their testing and approvals schedule.
It's an IRL GM and not a broadcast one meeting.
The meeting was latest announced in the RNS 24th Apr. Proxy voting via your broker closed last Friday.
The company circular with the meeting details is on the GDR website in 'Investor Relations > Constitutional Documents'
http://genedriveplc.com/company-reports/Circular24Apr23andNoticeofGM11May23.pdf
HTH
The next GDR company meeting is very important and you may want your vote to be known.
I know most of you may be seasoned investors, but it seemed that before the last AGM there were some investors who did not know how to vote at company meetings if they dealt through a stockbroker but would still like to have their say.
So, this post may help those who deal through Hargreaves Lansdown (HL) as they offer a straightforward and quick option using their website.
Once you've logged into your account through HL's main webpage, there is a section on the right called 'Shareholder Meetings'.
Clicking on 'view meetings' will take you to a list of currently scheduled meetings open to you.
In the meetings list there's a column called 'Action'. Here you can select 'Give Instruction'.
This will take you to a new site called 'proxyvote'. Here you can mark your vote on individual points or there is an express option where you can mark the same option for all points.
Once you've made your vote, submit it and sign out. Go back to the HL account page. If you now refresh the 'Shareholders Meetings' list page, it should now show 'Instruction Given' in the Action column and you're all done.
I believe the GDR meeting votes have to be in by 11am on 9th of May but double check yourselves and don't rely on my word.
Most of you can ignore this post but I thought it may help someone.
The meeting was already announced in the funding RNS of 31st March.
As I understand it, the meeting is to vote on whether the BOD can further access the funding on a future (maximum) monthly basis if required. I don't belive it is the signal that they will make further drawdowns immediately and drawdowns are not compulsory.
The EVA process is a completely new process adopted by NICE which essentially cuts down the normal lengthy assessment process. They are bound to be slighty cautious on their early adoptions using this new method.
No new drug or technology would be given 'carte blanche' to be integrated into the NHS without further cost scrutiny & performance monitoring under these circumstances.
After the PALOH trial (in collaboration with the NHS) the Genedrive machine and assay format were re-designed, improved and re-qualified for CE-IVD to suit their needs.
RNS' 31-08-21 & 28-09-21
https://www.lse.co.uk/rns/GDR/new-genedrive-system-readied-for-aihl-launch-r7lea91aoani1es.html
https://www.lse.co.uk/rns/GDR/new-genedrive-system-receives-ce-ivd-marking-8lue28eyf8d9mz9.html
Remember the NHS see this as (excuse the pun) 'their baby'.
There is nothing to stop any maternity/NICU department within any NHS national or local trust procuring this equipment now.
All will do so and without having to wait years for periodical monitoring from other sites.
The timescale of the roll-out is between our distributor and the NHS trusts.
I'm sure the future scrutiny aspect will also help Genedrive improve the product further whether it be software upgrades or assay formulation.
@amin0406
I hope you realise my reply was somewhat tongue-in-cheek :)
Like I said yesterday, it's gonna take something special to get this really moving but today's RNS is a welcome update.
Don't be so impatient.
If the we get top results from the 25ton sample, it could burst it's way to 4p!
;)
@roger65
Are you related to Marvin?
https://youtu.be/CAA67a2-Klk
Lol.
Hoping so...
It's been nearly a year since the SP crushing technical report was released and despite the interviews, q&a and later 'revised' presentation, this stock has remained stubbornly suppressed and stagnant.
It's gonna need to be a humdinger of an RNS to get this sloth moving!
Not sure where the £1.10 comes from (?) but the £80 price quoted is the the final price to the NHS.
GDR won't get near that when you account for distributor margin, packaging & manufacturing cost etc.
The machines themselves will provide the initial revenue, along with any support/maintenance contracts.
But AIHL's real winning attribute is that it gets us a foot in the door with the NHS, European healthcare institutes and, eventually (hopefully!) the USA.
Once that foot's in the door, future assays will be readily received and we'll also become that bit shinier for the Pharma Magpies.
Does anyone know how we would stand if we are on the right side of the Bacanora royalty ownership challenge judgement in Alberta but the Mexican government manage to wrestle the mining rights away from Gangfeng and give it to state owned LitioMx?
I was wondering how they put in the shop windows too...
The LSE share trades list is pants.. my buy shows as a sale :S
I agree. It doesn't make sense in my mind either.
Riverfort would need to sell @ 30.77 just to break even on the first 2million tranche without any guarantee of profit or that GDR make any further drawdowns.
Warrants are not a guarantee of profit. In fact in this case, GDR would need growth for Riverfort to benefit.
For those that maybe unaware, 2 RNS were issued late Friday.
One is the half yearly report, the other is about a £5million equity facility.
For those who are invested, the equity facility will be subject to a shareholder vote at a General Meeting (date not yet confirmed)
So are you saying our new investor may be corrupt as stated by the speaker in your video link?
I think you need to be careful MR.
BTW even with my rosy goggles on, even I know the most important thing now is sales, sales, sales!
I've re-read the funding RNS a couple of times since issue.
I've only got a few AIM companies in my portfolio and I've not dealt with one of these facilities before. It's timings plus the fact that it is a drawdown facility rather than a lump sum piqued my interest.
Here's a few of my ambling thoughts..
The initial drawdown of £2m takes the company to exactly the point in time at which they expect certifications, initial marketing and NICE approval for the stroke assay plus completion of initial 'proper' sales of AIHL. It also represents a comparatively smaller initial dilution of approx 7%, rather than the approx 17% a conventional share raise for the same (but one off) £5m potentially would have done.
The monthly withdrawal limit of £300k ensures the company doesn't fritter away the money all in one go (as best possible anyways).
The 2yr finance term is also structured in such a way that the BOD almost seem to also have one eye on either:
¦ Not needing to ever fully drawing down the facility within the term and letting it expire (enough sales to support company, make a profit and cover development instead within the period)
¦ Paying back the facility early before fully drawing down (again reason as above)
¦ A substantial takeover offer being put on the table effectively making the facility a minimally absorbed debt (at whatever level of drawdown it currently would be).
If anywhere near the predicted level of sales (even 20%!) were to be achieved within the 2yr term, then this finance facility will become effectively irrelevant especially if not fully realised.
Then again, my analysis could be complete pants and I'm probably looking at it incorrectly through future wishing rosy glasses!
@Samberox
The Genedrive kit is a comparison study with another POC (as mentioned in the RNS) and conventional lab test.
The NICE timetable and all documentation can be found here.
Next scheduled date is 18th of this month which is a committee meeting.
https://www.nice.org.uk/guidance/indevelopment/gid-dg10054
It's my understanding trials maybe running concurrently in Scotland.
@Guy (0737)
That's a daft thing to say.
How can perpetuating an unassured investor base possibly help the company?
Investors need reassurance and a clear mapped out path to growth.
Selling of the AIHL test in the UK is Inspiration Healthcare's job. They are the designated sales & distributor.
It will be Genedrive's job to provide customer support and training.