Member Info for CrustyPete

Yes Violin, that thought process was, in part, behind my pre-supposition too. Why pay $1+bn for milestone payments when you could buy the whole kit and kaboodle for less. Albeit at an earlier stage of development.

Good to see a number of buys this morning; another tick up soon? The MM's offering 12.85p for stock now and happy to buy 200,000 at 12.80p - 12.55p for 300,000. No quote above that.

Re NASDAQ listing; for GT I would certainly agree, next year a better bet for shareholders - the more developed and proven the antibody solutions the better for monetisation shareholder value.

Would Genmab be happy with a JV solution that further "dilutes" their pivotal, first adopter position with the Glymab Platform? I had always thought that eventually Genmab may end up buying the platform from Scancell. With further Genmab type arrangements that becomes less likely.

This new video promotion and the recent spin off of GT into a separate entity might add weight to EE's theory that it may be GT that gets spun off into Nasdaq; maybe just need those milestone payments first?

Well PC in my book "positioned" will only be achieved when they have a Farm-Out partner for Rukwa "in the bag" - yes Galactica provides solid foundations but, surely, the biggest "potential" is that, as yet, unrealised asset in the Rift Valley?

Sorry, ignore that last post - it was a delayed Bed & ISA.

Being offered 12.22p for up to 100k. Was that last large trade a Buy or Sell?

Peak of a week or so ago

$2.13 currently (up 4.5% today) having been $2.30 at its peak.

Something afoot? I am expecting a large increase in trading volumes over coming days and weeks. Now might be the time to buy if, unlike me, you still need any more.

Now being quoted 11.75p for anything up to 300,000, 11.666p for 400,000 but no price for 500+. Maybe been a few takers at 11.75p? Delayed trades to come methinks, earlier Buys and now maybe a few Sells.

On the other side of the coin I am being offered 11.555p for 25,000 - 100,000. 11.45p for 200,000. 11.275p for 300,000. 11.26p for 500,000 to 700,000 (the most that I can test in any one account)

Similar story on II too. I have tried buying small quantities from 10k down and not until getting to 1,000 does it get filled - and even then only at 11.99p.

Maybe an uplift soon? Conversely perhaps a "tree shake" to provide the MM's with some shares? What is certainly true is that shares are in short supply.

Morning note from SP Angel SYN's so called "adviser".

Synergia Energy* (SYN LN) 0.012p, Market Cap £ 1.9m: Financing secured to extend runway

• Synergia has entered into an up to $700k unsecured loan agreement to provide funding for general working capital requirement with Republic Investment Management , which holds 12.4% of the shares .

• The first tranche of $350 k can be drawn down from mid-April on demand, bearing interest of 7.5% on amounts drawndown, and repayable within 12 M from the initial draw down date.

• The second tranche of $350 k will be available on a date as agreed between the Company and Republic, no earlier than 1 September 2026, with the same lending terms.

• Alongside the loan, Synergia will issue share options to Republic to the value of the loan principal with an exercise price at a 10% premium over the prevailing share price at the initial draw down date of each tranche for a period of 12M.

While Synergia commented recently that it had sufficient liquidity to meet operational and working capital obligations for at least the next 12M, today’s financing provides additional headroom while the Company reassess es its options. Selan’s decision to renege on the deal terms to acquire Synergia ’s 50% interest in the Cambay PSC at the last moment, has forced the Company to review its strategic options going forward and restart marketing of its position to other interested parties . Selan has also yet to execute the agreed fully funded $20m development work programme under the previously executed farm out agreement, which should have included the drilling of three new production wells in the Eocene.

In the UK, Synergia has suspended external contract work on the proposed 70-100mt Medway Hub CCS project and is working with the regulator to implement a delay in the Camelot licence work programme as it looks to identify a replacement JV partner .

*SP Angel acts as Nominated Advisor and Broker to Synergia Energy Limited

So in summary no positives to offer except that by raising further capital it gives them greater wiggle room. And the ability, no doubt, to pay SP Angel a load of fees for the fund raise and for assisting them in finding them buy out and CCS JV partners..... So at least SP Angel will be milking it whilst they can.

A few "bed & ISA" trades adding to today's volume methinks?

Some interest this morning. Is that the new ISA season triggering some buyers? One trade for £19999 there I see. Whatever might be stimulating it, it is good to see.

Yes Ipad only a 25% premium over share price and a full share for share deal as I remember? Though $10 bn total.

So a number of comments and questions automatically come to mind.

Firstly that $700k is equivalent to circa £528,000 or roughly 29% by value of the company. Added to the 12.4+% that Republic already own, if they exercise all their options, (plus more to cover the interest?) they will have to make a "bid" for the company - a reverse takeover by stealth?

There is no way on god's planet that SYN will be able to repay the capital or raise sufficient through a share issue to do so, so where does that leave the company and shareholders?

If our BoD are to be believed it costs SYN (us) £70k per month just to remain listed on AIM; if so even when added to our current Oil & Gas incomes from India this doesn't cover much more than our existing expenses over the loan period, so what is it achieving? Will our BoD go back to earning full salaries?

A 10% premium over current sp? With the likelihood of another 5 billion shares overhanging the market at some point. How much higher is the sp likely to go before those options are exercised and Republic's intentions known?

No mention whatsoever of any solution to India exit or Medway CCS JV partner.

Death throes?

Oddmoney, I suggest it will not be a problem. I am 100% sure that Scancell will be Dual Listed both on AIM and Nasdaq; there has been no suggestion that they are about to delist from the LSE Indeed there is every possibility that in the fullness of time, after a rerate, partnership, part sale or SCOPE production, Scancell might migrate to the "full list".

I have found these listing requirements and minimums on the internet and by some measures they appear taxing (based on earnings, cash flow and revenues). The minimum qualifying standards look something of a stretch (Scancell may needto complete a capital event, partnership, sale etc to qualify) but the levels of minimum raise appear pretty low ($25m or 25%).

Furthermore, assuming a company qualifies under the listing requirements, application and approval can be completed relatively quickly.