Member Info for dippfs

Well if this ( somewhat optimistic ) theorem about funding after the US election is true then we’re in for a long wait since the election is November.

Hi PMJH / wpa, i have never attended the AGM before despite being a log term holder of shares, but I feel like I will for sure attend this year in order to hold the board to account. I am still a little confused by the lack of an update with regards to the AGM ? They have 6 months from year end to hold it / call it - either way this has definately been missed now since there was nothing today. Do we expect further comms on Monday, or could this still even cause the shares to be suspended Monday ?

Well they still haven’t announced the AGM date so we may well be suspended yet. Since there is 2 roads the company may go down - with funding or without funding, maybe this uncertainty needs to be cleared up before they can call an AGM. I don’t know I’m just speculating.

It will be interesting to see if TFG lend their support to the raise when it comes.

PMJH I know what your saying but the firm have obviously decided they can only afford to investigate one thing for now, so they have gone with the low hanging fruit where they expect maximum bang for their buck. If this trial is a success and they can get it commercialised a few years down the line then no doubt they will do more trials for the other things to add more strings to their bow.

I know it's totally "how long is a piece of string" but does anyone have an idea of what a P2 trial might end up costing ? EG if they have to raise £10m @ 4p a share thats an extra 250M shares so 450M in circulation. It's a blow for shareholders but if the results of the trial are positive there is still enough in the pot for a decent return. My take on today is it was basically what I expected. My main disappointment is it does seem to have taken them a long time to come full circle, it does seem a lot of time has been wasted, although they cant afford to get this one wrong so it makes sense they have left no stone unturned.

Setting up a new business takes up a lot of time and effort. I must admit my first thought was that Tom Wilkinson must have a lot of time on his hands if he is doing another venture alongside Synairgen and Universal. You can read it either way. Maybe he isn’t needed currently as the trials are all designed and ready, just waiting on a few loose ends.

Someone posted in this forum about a year ago that TFG had written down one of its investments in its bio fund, although SNG wasnt named specifically it was clear that it was SNG. It seems very clear to me that TFG are as underwater as the rest of us. Could be a good thing if there is a deal in the offing, presumably TFG arent going accept anything unless its breaks them even or even makes a small profit.

Routine

Totally agree pmjh. But the one thing that i can’t get my head around, is that if it is to be just a routing update, then why leave it so late ?!? It’s all very strange.

Who knows what is happening until we get confirmation, but let’s just assume everything is hunky dory and nothing has changed since our last update. This would mean 1) cash is fine 2) no big pharma deal currently 3) trials should be planned and costed by now. Maybe the delay could be at the regulators end. We are just waiting for some papers to drop ? Could be as simple as this !

I didnt attend the AGM last year, but I did keep a note of the summary that was kindly given here. It seemed like it was made clear that BP wanted to see more data from SNG before any deal could be done, ie the P2 that is currently being planned and paid for out of our own resources. I know this was nearly a year ago but Im confused about why everyone thinks a deal is / has been done when this is not what we were told in the last update ?

PMJH - do you think there is it is strange that the full year results and AGM are being left so late ? Surely a week either way shouldn’t make a difference in whatever they are planning.

PS SNG are nowhere near bankrupt. They could function another couple of years if they just wanted to take their paycheck and roll the bank balance down. Its the trial that will cost the big money which may or may not be an issue.

Doc I agree, I have been in the unfortunate position before where a company did not announce its AGM or results on time and the reason was because they were negotiating a take over deal. Ultimately on the 1st July the day after all this was due, they suspended the share and said they would update the markets when the deal is done however long that may be. Feels a bit similar here, there must be a reason for the silence. We will definitely find out soon enough. They cant stay silent forever.

Something must be in the offing that they are not at liberty to announce. If SNG not in a position to fulfil their regulatory obligations they may be forced to suspend the share until the deal is done or not done.

Sorry for my ignorance I’m not 100% on AIM rules. So this 21 days thing just relates to the amount of notice they have to give for an AGM right ? So this needs to be done tomorrow so the AGM is within 6 months of the year end. But the full year results don’t apply to this 21 day rule do they ? So theoretically they could make us wait right until the end of the month before giving an actual update ?

Joey I seriously hope they don’t have reduction in hospital stay as an endpoint again ! I would have thought they after the deep dive progression to more severe illness / death would be better.

Radio silence from SNG usually means they have nothing material to say. Full year results due anytime, which is usually just an update on financials and cash position, and a progress update on how the planning for the new phase 2 trial is progressing. Personally im not expecting anything more or less than this.

Well according to this mornings RNS the going rate for valuation of a cash shell listing is £1.95M.