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James has increased his holding from the initial fund raise of 310,488 > 936,096

* The Company's announcement on 23 June 2023 incorrectly notified that Mr Ede-Golightly had a total interest in 310,488 Ordinary Shares, representing 0.09 per cent of the enlarged issued share capital.

Looking through the quarterly 13-F filings there's some movement up/down but overall fairly balanced, the one exception is Goldman Sachs who have sold -601,698 or -70.147% of their ADR's

This is not surprising as mentioned before on here many times with both a long and short position, this I would have thought leaves them with a higher net short position.

https://www.nasdaq.com/market-activity/stocks/hcm/institutional-holdings

Since the WAND announcement in early March, Griffiths has issued TR1's for - Logistics Development Group plc, IQE plc, Xeros Technology Group Plc, REDDE NORTHGATE PLC, Xeros Technology Group Plc and of course Plant Healthcare.

All of these have been sales which suggest he is raising capital by liquidating significant holdings where possible.

US investments are disclosed with quarterly 13-F filings.

He may have become a forced seller as WAND nears its relisting and revised market valuation.

8.3m at 8.9p, could be Griffiths, either way its around 2.5% - question is, who has taken them, Scobie ?

Bring on the TR1

Takeda slides 31 and 32 on the older 23rd May presentation, glowing commentary from Hutchmed with their ideal partner.

How easy would it be for Takeda to pitch an offer ..

That's incredible, Eden just short of £42m market cap according to this site.

It has to be good for valuations as a whole, sooner or later there will be some read across as institutions look for other opportunities.

Seller still there, RSP trades at 9.34 are on the buy side

Regulatory mood is shifting in PHC's direction, read across for Harpin EU approvals perhaps.

(From Eden thread, a d v f n )

EU green lights new rules to speed up approval, authorisation of biopesticides

https://www.euractiv.com/section/agriculture-food/news/eu-green-lights-new-rules-to-speed-up-approval-authorisation-of-biopesticides/

Edit, that should read HK$135m short positions, estimate is correct

Not sure of exact cash position but has to be around £800 - 900m mark with Takeda payment, current market cap £.15b

Currently HK $200m of short positions in HK, given daily volume it would take 4-5 weeks to cover with consistent buying.

Occam, my guess is that management have already had these conversations and quite recently too, its so obvious to anyone looking in from the outside what needs to happen.

My thoughts are they didn't have enough backing to go private from the circ 50% of holders that are deeply underwater, Griffiths would be one that springs to mind.

Henderson, Griffiths and others are so far in where would you place a bid for acceptance? - I think that is why they have chosen to remain listed through the consultation process.

Things could change though, if the newer holders such as Scobie increase their holding the status quo would shift- -

Griffiths holding could be up for grabs, that's 10% of the votes in one go.

All of that to one side, Plant Health Care are finally gaining market traction with economies of scale and so on, reporting is much more realistic too. Its likely the original holders whilst not participating in the fund raise have decided to stick it out under Jeff's leadership, remaining listed is a good way to attract takeovers but also benefit from any share price increases.

"The Company remains firmly on track to achieve annual revenue of $30 million by 2025 through the launch of new peptides and growth through current and future distributor relationships."

..food for thought they say..

Based on the new issued share cap, top four holders as follows (rounded up)

Ospraie AG Science

58,072,790

17.00%

Scobie Ward

38,984,624

11.41%

Richard Griffiths

36,909,630

10.80%

Janus Henderson

30,214,286

8.80%

Total 48.01%

Going private seems an even more likely option now, obviously the remaining holders would need convincing.

We may have to rejig the figures Occam, Eden having a good day current Market Cap. £35.25m

Yep, there's the RNS watershed.

Ospraie have more or less maintained their position, while Scobie Ward has increased overall position to 11.41% - James Ede-Golightly has also bought a few.

Share register is starting to consolidate, rough tally puts 50% of the company with four major holders.

This should be it now until profitability is achieved.

Roger that, we may see an RNS in the morning as quite a small raise, plus plenty of time to tentatively bookbuild prior to this announcement.

Not sure I understand your reply, do you mean avoid dilution which has not been the case ?

If so, I don't think they had any choice really, agree on clearing the air and hopefully those sellers will now stop.

Also feel this time around is bit different, much closer to profitability with steady growth - prior to this it was all over the place.

I guess Scobie was unware as buying in the market quite recently but good both major holders are backing this -

CR has a fair chunk but CEO/CFO only bought 15k or so of shares last time around.

Yes, it was pretty much nailed as I have mentioned before, my reference to the AGM statement was from your post below after attending:

"1/ No decision has been made about securing non-dilutive funds and Cenkos continue to evaluate the options against a tricky macro-economic background. The desire to avoid stock dilution is palpable and that should be refreshing for all investors (they care about us!)."

I would think those that have been selling also antedated buying back via a placing, it would be good in the two Jeff's took a meaningful holding (unlike last time).

9p is a fair discount to the last placing with the company making much progress since last two years

Interested to see what these two large holders do, this explains the weakness in share price though.

The Subscription

As part of the Fundraising, the Company is intending to enter into subscription agreements with Ospraie Ag Science LLC and Scobie Ward, both existing significant shareholders in the Company, (the "Subscription Agreements") in order to facilitate their participation in the Fundraising at the Issue Price.

In addition, certain directors of the Company have indicated that they intend to participate in the Fundraising at the Issue Price.

Not sure how this fits with AGM commentary.

https://www.londonstockexchange.com/news-article/PHC/fundraising-to-raise-up-to-us-3-6-million/16011117

Biotech Growth Trust PLC use the NASDAQ Biotech Index as a benchmark.

HCM's is easy for hedge funds to move up/down, don't forget Goldie with their two way bet.

Biotech Growth Trust PLC is a decent benchmark imo, very diversified but ultimately share price back to 2015 levels.

Its actually trading below NAV

https://tinyurl.com/yk5f95b4

Fact sheet here

https://www.biotechgt.com/application/files/3716/8691/1442/BIOG_Factsheet_May_2023.pdf