RE: Venrock clarification10 Aug 2020 18:59
apologies for going over old ground again on the subject of the VHCP holding and todays RNS:
'11. Additional information xvi
Bong Koh and Nimish Shah are the voting members of VHCP Management II, LLC and VHCP Management III, LLC. They have a notifiable interest in excess of 5% of the voting rights of Synairgen plc as notified on 7 August 2020.
VCHP Management II, LLC is the general partner of Venrock Healthcare Capital Partners II, L.P. and manager of VHCP Co-Investment Holdings II, LLC, each of which holds shares in Synairgen plc falling below the notifiable threshold.
VHCP Management III, LLC is the general partner of Venrock Healthcare Capital Partners III, L.P. and manager of VHCP Co-Investment Holdings III, LLC, which in aggregate hold shares in Synairgen plc which represent 3.42% of the voting rights.
All percentages are based on the notified current issued share capital of Synairgen plc of 149,433,442 ordinary shares.'
https://www.investegate.co.uk/synairgen-plc--sng-/rns/holding-s--in-company/202008100950556416V/
Now I stand to be corrected but it does look like their total holding is only 5.09% (1.67% + 3.42%) which is held as follows:
VHCPII = 1.67%
This is split between VHCP Investment Holdings II and Venrock Healthcare Cap Partners II
As the total is below 3% they don't have to declare how much each holds.
VHCP III = 3.42%
This is split between Venrock Healthcare Cap Partners III (3.11%) and as this is above 3% it had to be reported.
VHCP Co-Investment Holdings III (0.31%) as this is under 3% it was not reported.
Their TR dates holdings crossed were:
24 July 0 to 3.25%
29 July 3.25% to 4.44%
5 Aug 4.44% to 5.09%
and on 6 August they obviously then allocated out the shares to the various companies/funds in the group, hence todays RNS.