Member Info for CHELSEA7

At 14p

For 81k

Was there a max time the adjournement could be arranged for?

What are the time implications needed for that to occur?

False, a situation that could well arise with Redmile in the drivers seat.

I can only imagine nobody thought Vulpes would react in this matter, this is not the first time Redmile have been in this situation

Thanks False, well I know of three people holding 15m shares to add to that for vote and that is for starters.

Not too many Kat, a couple of posters posted on that yesterday, I believe we had 70% for but needed 75%, with many PIs to vote. Get that vote in and sure someone will come up with the maths.

Just for 2k, but showing as a sell as the spread dictates

Absolutely agree compound. That is the case, opening 14.50/15.25 won"t need too much to see a big rise here.

After what I thought was a great discussion yesterday, with so many differing views I have read yesterdays RNS a few times now and it had more meaning every time.

""Blame was proportioned at the BOD yesterday by just a few posters, a word I have loathed during this virus, preferring to hear how any situation can be resolved, which in reference to the virus means I have kept to scientists assays rather than turn to the media and news broadcasts."" I believe even more the only blame I would attach in this situation is myself as a shareholder not voting, because I never fekt my vote was needed. Times that by many opinions yesterday there would have been no need for the adjournment. I also dislike blame as there is little we can do about it, but in this instance like many it just took a few minutes to change a disservive I did to the BOD in the first place.

After so many good posts yesterday, it is really worth reading yesterdays RNS again, I really don"t know how Scancell could have handled it any better................................
https://www.lse.co.uk/rns/SCLP/

Your comments are truly welcomed. The OO was significantly oversubscribed yesterday, which I thought it might be. Imagine an OO for £3m at 13p a share being significantly oversubscribed last year?? Just a measure of the direction we are going. Pleased I bought half the shares I wanted in the market at 14.37 given this situation, and will buy another 35k to take me to 250k on any sign of weakness.

This situation will be resolved shortly, resolutions will be passed and yes proxies still have time to be counted, Hargreaves indicated 2/3 days yesterday, so well done all those who acted yesterday.

We are in for a few good surprises IMHO, Vulpes helped us to keep the lights on last year, but they wanted to build there stake with a series of dilutive fundings far less than at 13p. I believe with the capital injected by Redmile there intentions have been made and one which the BOD and Lindy are very excited about. That is good enough for me.............next stage 250k!!!!

Scancell PLC (LON:SCLP), the cancer immunotherapy drug specialist, said it is rearranging a general meeting to get approval for the issue of £17.9mln worth of convertible loan notes to US health investor Redmile.

The loan notes were to be issued as part of a £30mln finance package from Redmile announced earlier this month.

Scancell said proxy votes in favour exceeded 70% but had not reached the 75% threshold required to pass a special resolution to issue the notes.

Votes received against these resolutions were from a very small number of shareholders, it added, but did include one of the company's larger shareholders.

A new general meeting has been convened for 5 November to give more shareholders time to vote on the resolutions and to boost the total in favour above 75%.

In its statement, Scancell said the directors were aware of a number of shareholders who have indicated that they would vote in favour of the Resolutions if more time was available.

Scancell added that the open offer to raise £3mln launched in addition to the Redmile deal had closed and was heavily oversubscribed.

Cliff Holloway, Scancell’s chief executive said: "The additional funds from the proposed New Convertible Loan Notes would allow Scancell to accelerate its development pipeline by advancing multiple programmes from its different platform technologies in parallel.

"Importantly, this would mitigate risk versus our current, more sequential approach to asset development.”

Scancell said its unaudited cash balance currently is approximately £25mln.

That sounds pretty clear to me.

Tell you the truth I haven"t seen the comment, and its irrelevant whether he is a mate, but it has been a good day here, many opinions shared without a cross word all day, just seems there is always one brewing with the same people. A shame we have proved today how important a BB is to us all. Just let it ride at times, others do and have,

I have really good feelings about this and wait to see a big name investor join the ranks, it won"t come cheaply if needed but will make us even stronger, Isn"t what we all want??

Seems everytime I post about a great BB a petty row emerges.

I too wasn"t so sure of the authenticity of NXC until Bermuda posted his email address and number and I contacted him and never have had that problem since. What is so important about that now in view of so much of import. Onwards, forwards.

Crumbs, snap.

A great BB today guys

Allegedly 14 "trades""

Crumbs/miavoce..........................so close.........................

One thing I notice here is on many occasions the BOD are blamed, and now the integrity of Redmile too are being scrutinised. OK forget Scancell, but do you really believe Redmile have missed a trick too???

I am looking at the vast difference in size and relationships Redmile have over Vulpes, I think I know where best our future lies as does the BOD

Ray, exactly.

You don"t realise how close to the truth you are...............................

""Looks to me like Redmile holds ALL the cards now.... Hope they are as benevolent as you suggest they are. Do you really believe that Vulpes introduced them to Scancell as a Plan B was it? Hopefully they have a partner ho can buy out Vulpes... or something similar. I'm sure there are some others who are not quite as forgiving ....
Maybe?""

Well we have dealt with Plan B, but you mention benevolant, which to me sounds like caring................but who else has come up with the kind of money that Redmile have???........................And no I don"t believe Vulpes shares will be hanging over the market at all, nothing like a battle for shares in this company ATM. All we be revealed shortly IMHO, but I value your opinion, think about it, Redmile have serious connections, don"t you think they would know this would come? ATB

PS, a little bit less ""about loyalty"", I have traded this with my 10/15% pot all year, in fact 12 times, 11 times succesfully. I am pleased I have never given the impression I am talking the share down at any time, regardless of how I see the market. Take care

GN Guys

AB, I have only comments to make on resolving this issue, which is easily done.

Different agendas often occur even in FTSE companies, or should I say particularly in Footsie companies. This is a huge investment by Redmile, one which the BOD have wanted for some time, can I see why Vulpes would prefer another way to their benefit, then yes, but not to us.

AB, ask yourself a question, why would Vulpes not welcome Redmiles investment???

My answer, because they had plans for a series of dilutive fundings to increase their share in Scancell, and quickly excersised their right with the CLNs to increase there voting rights. One thing everyone is alligned on is getting a great return on their investment, does it help PIs in general to see Vulpes increase their holding on the cheap?? No, I don"t believe so.

No AB, thanks for replying. Hence we have an adjournment to correct the situation.