RE: Placing15 Dec 2022 20:01
TW has not commented on this yet, he is in Greece and will no doubt be considering his view overnight before he travels back, but I suspect he will not be a happy bunny. I am sorry to say I see no positives in either the end of year RNS or placing which certainly wont get away anyway near the 16p. My reading is that SA has taken a view that the Croda scale-up and launch would proceed as planned with sufficient revenues arriving early 2023 to prevent the need for a placing just to keep the lights on and he has lost that gamble following this month's technical meeting. So instead of taking risk mitigation action by raising a placing at a discount in advance of the technical news when the sp was in the 20s, he is now faced with the nightmare scenario of trying to get a placing away at any price to keep the lights on and as a shareholder I am extremely unhappy. As the influencer campaign has now ceased I would suggest immediate cost cutting measures should include the termination of a certain director's contract brought in for her "influencer knowledge and expertise". Regarding the potential acquisition, I think we can all guess the current value of that company if it is change out of the hoped for £2.5M fund raise. Skinbiotix is now starting to sound like sweetbiotix, it may be with us one day, but one question I do have is as successful scale-up to 600 litres was achieved by Sederma , why can't the commercial release to VIP clients proceed early 2023, this needs answering? Finally, we were told over a year ago that discussions were underway for some of the other pillars i.e.last years eoy results; Medibiotix - Management is "in discussion with a number of global woundcare companies", this years latest update "Early discussions with potential global partners in the meditech sector have commenced", so no progress at allon the face of it.