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Sir Digby - 13:09

Things to note, the board are in place until 2023 - voted last year however the new CEO will require ratification by shareholders. They were also given clearance to issue shares of up to 10% of the current share capital which at the moment would only raise around 20m. They may seek to increase that at the next AGM, so it's something to keep an eye on.

On the basis that they're there until 2023 they may feel pretty comfortable with ignoring PIs. However, under french listing rules an egm can be called by any shareholder or group controlling 5% of the company so perhaps they shouldn't feel too comfortable.

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1 Page 46 of the Annual Report:
"Good governance dictates that Non Executive Directors can only serve for a finite term and therefore during 2021 we will need to find a replacement for Edwin Snape who has been involved with the company (in its various guises) for over 10 years.
This will also ensure compliance with French regulation concerning the proportion of Directors over the age of 70. I would like to thank Ed for the contribution he has made and the support he has provided over the years."

2 Under English rules, an egm can be called by any shareholder or group controlling 5% of the company.
I have experience of this, owning shares in an AIM listed company, when a holder owning >5% got rid of the CEO.

16.08.2021

https://www.dawn.com/news/1639397

Following on from this mornings discussion concerning ****stan to UAE travel, and airline passengers not being able to comply with the UAE requirement for ****stn passengers to take a PCR test 4 hours prior to departure:

++++
Dawn newspaper:

Airlines told to set up PCR testing counters

"In a press release issued on Aug 6, the Civil Aviation Authority (CAA) of ****stan stated that the UAE authorities had taken the decision without advance information.
It called on the foreign affairs ministry to take up the issue with the UAE authorities through diplomatic channels so that a solution could be reached and the travellers spared the inconvenience.

An official of the Ministry of National Health Services, requesting not to be named, said it was a unique and unreasonable demand.

“Ministry of Foreign Affairs has been requested to take up the issue with UAE. In the meanwhile, CAA [of ****stan] has asked Emirates Airlines to establish its own testing counters,” he said.

Replying to a question, he said facility of rapid PCR test was available but in limited public-sector settings. - (aside - some ****stan based labs have Promate assay and q16 / q32 instruments).

Talking to Dawn, microbiologist Dr Javaid Usman said though the rapid PCR test was held in around four hours, it required more logistics.

“In simple words rapid PCR test is done to amplify the sample and eliminate the chances of false positive or false negative results. The condition to hold the tests at the airport has been suggested to reduce chances of travel of infected passengers as tests even confirm virus in passengers having no symptoms. The machines which are used for the test are the size of a microwave oven and have 35 cycle threshold (Ct),” he said."

“According to my understanding UAE wants the tests to be done just before boarding but it requires a lot of logistics. After the sample is collected, almost two hours are needed to process it, as a sample mix is made by breaking the virus and extracting the ribonucleic acid (RNA) to run in the machine. It means that machines, equal to the number of passengers, will be required,” he added.

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Very much doubt Emirates airlines will be interested in setting up 'PCR counters',
- they may well want to subcontract.

UAE authorities aware of what q32 can do, - and may possibly be 'introducing ****stan authorities to Primerdesign PCR instruments.

We live in hope :-)

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