Member Info for 1DayRodney

@crouchers

I quote my own post from Saturday:

"Open Offer Placement

For those existing shareholders who may be a little confused or are new to this, the Open Offer placement of 1.5p for existing holders has not yet taken place, so you haven't 'missed out' and probably won't have had any notification from your broker yet.

From RNS 10/05/24 (yesterday) -

"General Meeting

The Circular containing a notice convening the General Meeting will be posted to shareholders over the coming days. The General Meeting is expected to be convened for 31 May 2024. Further details will be set out in the Circular including the timetable for the Open Offer.

Open Offer to Qualifying Shareholders

In order to provide Shareholders who do not take part in the Placing or the REX Offer with an opportunity to participate in the Fundraising, the Company intends to make an Open Offer to Qualifying Shareholders on the terms and conditions to be set out in the Circular. The Open Offer provides Qualifying Shareholders with the opportunity to subscribe at the Issue Price for an aggregate of up to 143,141,481 Open Offer Shares to raise up to approximately £2.1 million (before fees and expenses) for the Company, on the basis of:

1 Open Offer Share for every 1 Ordinary Share held as at the Record Date."

.........

"Further details of the Open Offer and the terms and conditions on which it is being made, including the procedure for application and payment, will be contained in the Circular, which shall be posted to Shareholders and made available on the Company's website, www.genedriveplc.com, in due course. A further announcement will confirm the posting date, other key dates in connection with the Fundraising and the availability of the Circular on the Company's website."

So at the moment, we do not even know the 'record date'. This is the cut off point where they record the number of shares you have and offer you the same quantity (as a minimum) as part if the offer. Reading through, I believe there is also an opportunity to purchase more than your minimum because others have not taken all of their allocations.

HTH"

@JAMESY1980

Quote "nor that this company are heavily in debt!"

I don't believe this company has any 'significant' debts just a voracious appetite for cash which results in an annual operating loss.

I'm happy to be corrected if wrong...

@stockpickfree

I forgot to mention that no, I was not served well by my stop loss at the time. SP was 130-140 my average was 110 hence my stop of 120, so 85 was not a good result.

David Budd became obsessed with making GDR 'debt free' and with no retail investment at the expense of the then much smaller pool of private investors.

@ onlyprofit

I've no real idea and I doubt anybody else has either. A great deal depends on the fund raise result and whether NICE deliver good news and without further delay.

@stockpickfree

I'm not arguing anything and I never mentioned anything about the current price. I am merely stating that (particularly on AIM small caps like GDR) a stop loss price is not a guaranteed price but a price at which below you wish sell. Your broker will execute 'at best possible price' as the price falls below your limit. It was more of a 'heads up' for newer investors about the volitiliy of this stock and others like it, no matter what the price they currently are whether it be 2p or 160p.

I first invested here many years ago when there were only 38m share in total.

My brief observations and experiences are as follows:

*Stop loss on this share is useless. We were once sitting at approx 130p and I had a stop loss of 120p but the BOD (like this time) announced a share raise at a massive discount. The price sank so quick, my stop loss got executed at 85p! So be aware.

*Previously an issue raise was not fully subscribed and it was the beginning of a fundraising spiral. As well as reducing investment, it inhibited FDA advancement (although I think the CEO at that time was naive about eventual cost and pathway anyways)

*Such a massive increase in share volume 'should' at least improve liquidity i.e. make it easier to buy and sell shares in sensible volumes.

*If the share price returns to a sensible and more stable point, the increase in share volume 'should' also make the price less susceptible to pump/dump and other daily volatile movements. Making it less of a traders share.

*The price may take some time to get to an attractive level because many existing longterm shareholders will be wanting to dump and get out as soon as they can, but hopefully this may be steadied by more retail investment uptake as the company approvals arrive and sales increase.

-----------

I personally will be taking up the offer to help ensure the company fully raises the funds required and continue to trade.

I know a few posters here moan about Cheek but I personally think he a knowledgeable set of hands who's been dealt this situation from a very 💩 deck. In my view the share price has fallen badly because of the Riverforte deal and them constantly selling aling with NICE delays. To abandon the the last tranche of the Rivft deal has probably stopped the share price being well below this level and still requiring another raise and even more discount.

His hands have also been tied by NICE and the NHS dinosaur, but I think he'll find a path to more sales both here and abroad. After all Mr Budd was nowhere near onboarding a partner for FDA application even after nearly two yrs taling about it!

I also think we were misled by NICE and their EVA pathway for the hearing test . We were being used as guinea pigs and it's been atrocious! This kit and assay had been designed for and at the request of the NHS. It had full trials, was proven, certified, then redesign at the NHS's request, then re-certified and still NICE required more to grant full recommendations. Dreadful!!

Luckily the stroke test has gone down the traditional route, which has been smoother, quicker but unfortunately still severely delayed.

This is still high risk but I believe/hope this could be GDRs 'El Alamein' moment.

But these are just my thoughts, you need to make your own judgement!

Valid comments welcome...

#others may not have taken

Please feel to correct me if my understanding is wrong.

For those existing shareholders who may be a little confused or are new to this, the Open Offer placement of 1.5p for existing holders has not yet taken place, so you haven't 'missed out' and probably won't have had any notification from your broker yet.

From RNS 10/05/24 (yesterday) -

"General Meeting

The Circular containing a notice convening the General Meeting will be posted to shareholders over the coming days. The General Meeting is expected to be convened for 31 May 2024. Further details will be set out in the Circular including the timetable for the Open Offer.

Open Offer to Qualifying Shareholders

In order to provide Shareholders who do not take part in the Placing or the REX Offer with an opportunity to participate in the Fundraising, the Company intends to make an Open Offer to Qualifying Shareholders on the terms and conditions to be set out in the Circular. The Open Offer provides Qualifying Shareholders with the opportunity to subscribe at the Issue Price for an aggregate of up to 143,141,481 Open Offer Shares to raise up to approximately £2.1 million (before fees and expenses) for the Company, on the basis of:

1 Open Offer Share for every 1 Ordinary Share held as at the Record Date."

.........

"Further details of the Open Offer and the terms and conditions on which it is being made, including the procedure for application and payment, will be contained in the Circular, which shall be posted to Shareholders and made available on the Company's website, www.genedriveplc.com, in due course. A further announcement will confirm the posting date, other key dates in connection with the Fundraising and the availability of the Circular on the Company's website."

So at the moment, we do not even know the 'record date'. This is the cut off point where they record the number of shares you have and offer you the same quantity (as a minimum) as part if the offer. Reading through, I believe there is also an opportunity to purchase more than your minimum because others have not taken all of their allocations.

HTH

(nearly) Happy Birthday to the last significant news RNS! 🎂

Updates for Pitombeiras / Fodere venture has been woeful - not even a timetable update lately.

Totally uninspiring to either new or existing Investors watching the SP slip down further to 1.5/1.6p.

Think this one may have fallen down the back of the AIM sofa 🫤

I was invested at the time. The price was not 'real', it was the result 'covid stock' hysteria that swept certain market shares because at the time GDR had an innovative covid lab test. Also at the time there were only 38 million shares in circulation.

3 things also then happened:

1. Budd decimated the stock price with a ridiculous and discounted raise. He seemed obsessed at the time to pay off the institutional investors by raising and diluting the private investors rather than through sales. He did this at least twice more if I remember correctly.

2. He lost the confidence of private investors and the market in general and left many investors high and dry. He was especially good at raising hopes with comments on twitter and the like but they rarely came to fruition.

3. GDR never sold any of said test in two+ years of the pandemic.

So just be careful when reading past articles...

WASU wrote

"more hospitals will join for the test program"

Just a little point - this is not a test program.

The Genedrive MT-RNR1 test kit is fully certified and approved for use in the UK incl. NHS. It's a commercially available product through GDR distributors both here in the UK and abroad.

Formal adoption throughout the NHS is one of the current main target of the company's. Getting it through FDA certification is another so that it can be sold throughout USA.

Welcome aboard!

Can both buy and sell on HL ok.

Temporary blip with your SB?

If you sign up for 'Investor Meet Company' and you register for GDR, they will email you when a recording is ready. Sometimes they also post up responses to investor questions which they may not of had time for on the day.

Well that was a completely different style of GDR presentation than before!

New CEO seems far more proactive, focused and seems to have the right connections and knowledge for commercialisation.

Shows DB was floundering, was taking the company completely in the wrong direction and had no chance of realising the full commercial potential of the Genedrive.

Some of the highlights I noted:

* GDR to concentrate on pharmcogentic testing and steer away disease testing e.g. Covid.

*Looking to innovate the Genedrive device further.

*The correct people within the NHS (health innovation networks/spec.commissioning) have now been engaged for both MT-RNR1 and CYP219C test. UK news imminent.

* MT-RNR1 test can now be sold in overseas markets now that product displays and manuals etc have been translated to local languages (how was this not done before?!!)

* FDA and potential partners have now been engaged and progressing for MT-RNR1. FDA are 'supportive'.

*Looking at launching CYP219C test into Europe as research product while waiting for IVDR approval. There is interest.

*Near future fund raising will primarily be for FDA approval for MT-RNR1 kit and not for any other product development or "hairy fairy" (quote) things [Separate funding being required for this has been known about for over 2yrs].

To quote the new CEO hopefully it's going to be "very, very different than before".

Overall I'm quietly confident but acknowledge it's still a bit tricky over the near future. It could be very interesting over Dec/Jan.

GLA.

I believe there could be some confusion because of the company's recent past.

I believe Genedrive plc was originally called 'Epistem Holdings' when floated in 2007. In 2016 the company was reconfigured and relaunched as Genedrive plc with some employees/directors splitting away taking the Epistem name with them.

Epistem as a company still exist in the field of drug research and are based in the same campus/building as Genedrive.

Probably explains the senior resignations showing in the past.

"Anyone turn down 14p a share right now? I’m afraid I wouldn’t "

Ha! I bet if the price suddenly rose to 15p, you'd still be holding!

Your constant multiple, daily berations are just numbing.

Why don't we just wait for the presentation to see what the new CEO has to say before we start panicking, eh Cpl Jones?

I would happily vote for a Saudi takeover for a very cheap 350p/share 😁

"monthly spend of £400k"

Will be interesting to see if this figure has been reduced since Mr Cheek has come on board.

We should also see his remuneration on the next accounts - see if it's structured differently to Mr Budds.

@roger65 said

Ooh could that be RF? They’re the only strategic investor on board atm so I’m guessing they’re going to up their stake to 49% "

As I understand it the rules are very tight for any uk publically listed company once the 30% ownership threshold (either individually or as a concert) is met including the 'mandatory offer' of cash for the remainder of the shares in said company - effectively offering to take over the company. The offer has a fixed minimum price based on previous 12mths SP.

There are other threshold notices too, to prevent sneaky or hostile takeovers. It's not as straightforward as just accumulating of shares however they are obtained.

I do agree that this company will probably not be standing independently in the mid to long term and will either wither or be aquired. Hope it's the latter and at a much better price than today!

I am looking forward to seeing the presentation to what plans Mr Cheek et al have in mind. GLA

A dry, hot zephyr pushes the tumbleweed down the main street......the townfolk look parched...

Their weary eyes once again look to the empty skies in a vain hope of an RNS to finally end the news drought and to help their withering investment grow! But, no, it's just another day of tumbleweed....

Personally I find the whole NICE idea of a 'fast track' EVA in our case a bit of a farce.

The NHS have widely acknowledged the test and its success (incl national tv news), its been globally published in leading journals, has been 'approved' by NICE, financially adds up and is available, yet NICE is wanting more data for 'full' recommendation.

It's already been proven that the implementation of this non-invasive test does not delay the treatment path and is a reliably built piece of kit.

Therefore, surely any additional NICE comparison verification data between the Genedrive and a 'full on' lab can be carried out away from the hospital ward environment. This will check its efficacy over a much wider set of specified DNA covering the whole human spectrum and in a much, much shorter time than 3yrs. It won't leave anyone waiting for mother nature to present you with specific quantities of the 'correct' babies.

After all, the kit has been in constant use, has been redesigned to the NHS' wishes and twice achieved build marking since starting its initial real world NHS trial in 2019.

The idea of the EVA was to speed up approval and implementation of innovative and much needed diagnostic tests/kit. Instead it seems that we have drifted back to the conventional NICE path timescale.

It would be interesting to find out how others have fared in the same process.

My ignorance in this process is probably showing but maybe we could all be educated if the situation and our current status with this kit were clarified by GDR themselves instead of the tumbleweed scene we shareholders currently find ourselves in.

Fingers crossed the CYP2C19 kit gets a smoother and speedier path.

GLA