Member Info for cl2201

@Wigster77 - Thank you (and Doc83) kindly for taking the time to put this together - it's much appreciated.

It's outdated - Fieldfisher is the company's solicitor now.

https://www.synairgen.com/investors/advisers

It did seem like a strange coincidence, given the timing, that perhaps it was a job posting from January 2022 (when the partnership commenced). I can confirm, however, that the listing can also be found on Ashfield Engage's US career site, so that rules out date errors - it is genuine and current.

@Aether

The Senior Clinical Trial Associate position was one of the two listed on Hobson Prior in October - that has been filled by the person who moved from Seagen. The other position was Clinical Project Manager - the assumption, from my side at least, would be that the successful candidate has started or will start soon, depending on whether they had to see out a specific notice period with their former employer.

From Titania's post (job posting):

"....Our client is focused on comprehending how and why some people's lungs are unable to defend themselves."

From Synairgen's About page (https://www.synairgen.com/about):

"Understanding how and why some people’s lungs are unable to defend themselves has been at the heart of the Synairgen story for nearly 50 years".

It will be interesting to see how that dynamic plays out. Their (SOU) Investor Q&A released on 24th February doesn't provide any updated information as they are, of course, bound by the rules of the Takeover and Mergers panel, however, it's clear they see (see answer to question 2) the potential purchase of Angus as a way of diversifying their business.
I think the overriding factor will be how much of the enlarged entity they are willing to give up to Angus shareholders as to whether they make an offer. With their SP slipping back considerably since the initial approaches, they would need to part with a higher % now, so it's a case of persuading their shareholders it's worth it - possibly citing the incredible increase in the gas price.

"Don't hold your breath for any meaningful/realistic bid. Its engineered hot air!!!"

Engineered in what sense? SOU approached Angus with indicative proposals of 1p, 1.3p and 1.4p prior to the FSP - whether they actually bid again is yet to be seen (their SP has dropped since the FSP started and would need to up their initial offer of SOU shares just to meet the 1.5p "Possible Offer"), however, it was very real interest.

@HeadInTheSand My statement is correct by virtue of the fact it's exactly as per SOU's RNS. The potential to be issued share capital of Angus on the day of SOU's RNS release included warrants - the recent placing had no bearing on the figure.

"That roughly equals £16.4 million, if my calculator is to be believed".

No, the offer was equal to £21.6 million - for the entire existing issued and to be issued share capital of Angus.

"All this takeover/bidders story is from mickey mouse outfits with not a pot to pi** in between all of them put together..."

Whilst that may well turn out to be true, basing your conclusions on the emergence of one (possible) bidder isn't very scientific.

SOU have another 10,000,000 votes from Sebastian Marr to support their possible offer. They'll need a hefty amount more to get it through though.

There will, of course, be a tipping point at which SOU will have to back-out (if their SP drifts lower). It just looks appears as though they are very keen - that's not to say they'll try to get Angus at all costs, but I can see an offer coming in. If that happens, it would only be a good thing for Angus as it would force the hand of other interested parties.

"I can see SOU going firm with paper..."

I somewhat agree - they were persistent with the previous approaches (1-1.4p), prior to the commencement of the FSP. Given that anything below 1.5p would be rejected, one would imagine it would be in their best interests to make their possible offer a solid one sooner rather than later - otherwise, if their SP continues to drift, their share of the enlarged entity would diminish and thus a late offer might be their undoing.

Amazing what can happen in 4 days ;)

ALB1

Posted in: SENS

Posts: 794

Price: 19.50

No Opinion

Take over 27 Jan 2022 09:44
Will be taken over, 50/60p

From yesterday's Interims:

"The Company was therefore pleased to sign a Master Services Agreement ("MSA") with an existing pharmaceutical company customer recently. This MSA is expected to provide a framework to support the signing of new revenue-generating professional services agreements from within the current business development pipeline."

I do, however, think the language (Drayson/Keogh) used in the financing RNS leans heavily towards a sale versus other routes (strategic investment/secondary US listing).

"I am grateful to shareholders for their support in providing this financing, which puts the Company in a position to complete the Formal Sale Process." (BK)

"...he (Drayson) has committed to vote for any bid for the Company that results from the Formal Sale Process...."

@White-Wolf72 It certainly does appear that way. It was 19.79 to buy, but then a relatively small buy of 20k shares pushed it up to 19.94 to buy. Meanwhile, the sells prior to that didn't budge the 19.65 you mention.

I wouldn't judge so quickly - it's NT to buy 5k. Let's see where we stand by the end of the day - it wouldn't surprise me in the slightest if we finished blue.

I think that's the general sentiment: this was largely known via the trading update, so nothing new as such.

The focus now is fully on what Sensyne is worth to a potential bidder(s) - we will see in the near future what figure will be.

I wonder if this is the same Pritesh Patel who was a director of Sensyne Health Holdings Ltd back in 2015?

hxxps://opencorporates.com/companies/gb/09427409

@Mikey279

"Lock-Up

The Note Purchasers (excluding Peel Hunt) have agreed not to (and have agreed to procure that their respective affiliates will not) dispose of any interest in Ordinary Shares owned by them or persons connected to them until such time as such undertaking is released in accordance with the Note Purchase Agreement."