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They didnt reduce their poition, they increased it look at the number of shares not the %. However the percentage holding went down because the shares in issue increased. Apparently the rest of that increase in share issue was taken by people connecyed to klk as well.
Please let it be true:
https://www.sci-techdaresbury.com/sci-tech-daresbury-businesses-unite-to-support-development-of-covid-19-tests/
Arcis Biotechnology, a research and development led company with expertise in the development of a wide range of fast sample preparation technologies, is working with onsite neighbours Perfectus Biomed, a leading Contract Research Organisation (CRO) that provides both standard and customised microbiological testing services.
In response to the shortage of chemicals available for diagnostic testing, Arcis Biotechnology has developed its Coronavirus RNA extraction research kit. This enables users to go from biological sample to downstream testing in under three minutes in most situations and provides all of the necessary reagents to rapidly prepare respiratory tract specimens of molecular testing.
Therefore, within five minutes of a swab being taken from a patient, the sample is ready for diagnostic testing. The simplicity of the process allows it to be used without highly expensive and prohibitive laboratory equipment crucially, this means the test has the potential to be automated, meaning robotics could be used to expedite quicker and more efficient testing.
The methodology and swiftness of such testing would rapidly increase the speed at which tests can be conducted, enabling the most at-risk patients to receive treatment faster while increasing the safety of healthcare workers.
The kit serves as a starting point for collaboration with healthcare organisations and Arcis is currently in discussion with numerous NHS trusts regarding its use. To ensure its regulatory approval, Perfectus Biomed is undertaking antiviral testing on the kit and screening on a molecular basis to ensure it has an efficacy claim against coronavirus.
So we know that the company is the same as the 8th April announcement. Where they said "The Proposed Transaction , if completed, would comprise the acquisition of a company with a technology and patent portfolio focussed on the early detection of a specific cancer."
I have been searching for private UK based company that fits the description
arcisbio(dot)com
Arcis Biotechnology is a research and development led company with expertise in the development of a wide range of fast sample preparation technologies. We are based at Sci-tech Daresbury, UK, where we have fully equipped laboratory facilities. The Arcis Group has already developed a number of patented compounds and technologies that have been enthusiastically received in the commercial marketplace via our licensing partner.
"patented compounds and technologies"
Their main product is for the detection of Prostate cancer which is "one condition where current diagnostic methods are limited"
Last summer they appointed Professor Steve Howell as Non-Executive Chairman of its Board of Directors
"Professor Howell has over 20 years’ life science commercialisation experience, supporting companies’ development and profitability."
One of the directors said of the hiring "We have an exciting opportunity to build a world-leading and highly valuable biotech based on Arcis’ current technology platform and future ambitions. Steve’s considerable experience, expertise and network will make a significant contribution to achieving that goal and delivering maximum value to shareholders.”
Which sounds a bit like something you might say about a company to be listed.
Lastly they have a page on the website labelled coronavirus which just says
Update in Progress
Check back in mid September for our latest SARS-CoV-2 solutions
Could this be the reason for delay? Get out covid news at the same time as listing news? Would as we know put a rocket under it...
OK who spent 3p buying 5 shares?
Sorry I meant control as chairman and old bod gone.
Sheffield only got complete control October last year, assuming some Covid related delays to things, its actually not been too long for the plan to come together.
But you would think when first group bought their shares they consulted with Sheffield first over some kind of strategy?
I was thinking that they must be working togethor cant be a coincidence that the 2 hold just over 50% and that the size of their holdings reflect thir relative sizes.
Two larger private HR companies, one owned by the new CEO Tim Shepherd, own 53% of the shares in NAK. I think Shpherd only took control vecause NAK is listed, so i think it is possibly a RTO and merger of the 3 companies is on the cards leading to a group with £90m turnover.
"moves the RUA Vascular business from being an early stage development project to a later stage business with near term revenue and profit potential"
Nobody seems to have noticed...
Alejandro Aranda (born August 11, 1994), known by his stage name Scarypoolparty, is an American singer, musician, and reality television personality from Pomona, California, and runner-up on the seventeenth season of American Idol. His debut album Exit Form was released on November 22, 2019.
https://shorefire.com/releases/entry/scarypoolparty-makes-lollapalooza-return
In the coming weeks, Scarypoolparty will host the inaugural OnesToWatch World Wide Wednesday on Live Nation's Live From Homeseries, plus featured performances the GRAMMY Museum and MelodyVR, an app that provides live music in virtual reality
I think it will inevitably change society - its just too early to tell how. My main guess would be that, although the office wont go away completely, working 2 or 3 days from home will become the norm for many industries, companies will realise they can save property costs and employees will just demand it. Certainly my major name UK employer doesn't seem in any rush to bring people back. I think its also going to hasten the end of the high street - which will move from retail to a entertainment/food and housing mix. More fundamentally I wonder if it will change our obsession with economic growth and GDP as the benchmark of national success.
More grim news from the theatre business. @bectu reporting that redundancies and layoffs have jumped from 3000 to 5000 in a month. 2700 of these in London and West End. All the major regional venues reporting redundancy proceedings.
Step up mvr.
The shares were diluted by a massive 0.4% today. If all warrants currently outstanding are exercised that is a dilution of circa 5%. I think it will be OK.
Thanks A1EX that's what I assumed. The rules do say though:
This rule will not apply, however, where such individuals have entered into a binding
commitment prior to the AIM company being in such a close period where it was not
reasonably foreseeable at the time such commitment was made that a close period was
likely and provided that the commitment was notified at the time it was made.
Could that provide a loophole? Just curious in general about the interpretation of the rules.
Looking at the last final results RNS as far as I can see there were no warrants due to expire now? I might have missed them, or they have lapsed/already been converted.
Out of interest does anyone know if warrants can be converted during a close period. The AIM rules aren't totally clear?
So an employee, not a director with a hidden agenda. Very interesting.
Is this them?
"The Group operates an approved enterprise management incentive scheme under which employees have been granted options to purchase shares in MelodyVR Group PLC."
Issue date 12 March 2018; expiry date 12 March 2028; Weighted average price 9.0p; Share options
31 December 2019: 7,661,724
https://www.investegate.co.uk/melodyvr-group-plc/rns/final-results/202006301205385525R/
The 9.0p warrants dont expire til 2028. Now why would someone convert warrants at a 100% premium 8 years early? It's almost like they know the share price is going to be significantly higher very soon...