Seaboy - I don't see Polygon bidding for all of SNG. And certainly not waiting until February next year. Even by Synairgen's slow standards, we'd expect to get some news by then that should materially impact the SP, hopefully positively.
Also, they'd need to persuade 90% of shareholders to part with their shares to force the remaining 10% (i.e. me!) to part with theirs. I can't see that happening, and definitely not sub £1 etc.
FTC7 - that’s absolutely correct. But it’s taken them nearly 2.5 months to buy up another 2 million shares? That’s glacially slow. I don’t know what premium you’d pay by pushing it along a bit quicker, but I reckon it would be negligible, especially over such a long period of time. For me, that would be worth it to avoid potentially missing out (I suppose they’d still have 26% of the company!) if good news came out.
Anyway, you’re likely right as I can’t see any other reason to buy up shares so slowly.
I must admit to being slightly baffled (easily done with me!) by Polygon’s strategy.
I don’t think they want to make an outright bid. That would mean paying circa £2 per share (highest price paid in previous year etc etc). They could be buying to 29.9% and then waiting to make a cheap bid in 2023 when that highest price paid is pennies but so much could happen between now and then for that to make no sense.
So logic tells me they just want to get to that 29.9% mark so that they maximise their returns when the good news (that they presumably envisage) arrives. But surely just buy the shares now, or certainly faster than they are doing, because that news really could land anytime? I mean it’s been fairly range bound around these levels for weeks now, except for the odd spike up or down.
Whatever they are doing, it certainly isn’t going to affect my own thinking. They got it wrong like the rest of us and clearly have no inside information. However, it will be fascinating to see what they do at the AGM. Even for Polygon, they’ve put a fair chunk of money into this.
I think and hope ACTIV 2 P2 data is good but I don’t think it will be astronomically good. Surely if it was mind-blowingly good, the US would have pushed it along a bit quicker. It is slower than a snails pace right now.
I invested 20% of my portfolio, however it is growing rapidly as I’m fortunate to be able to pump decent amounts into it regularly.
But it was still a stinger when that nightmare February RNS landed. For me, the real pain was that the dream of mega millions was gone. Of course, this may still come good but those £75 per share numbers seem very far away. That said, I have significantly increased my holding, so even £3-5 would be very nice.
It would have been nice for SNG to have held their hands up on the mistakes made. But there has been nothing, not even an apology.
I’m looking forward to the AGM. Not to cause trouble. But to ask some questions if given the opportunity. And also to see the whites of their eyes…There’s nothing quite like meeting people in the flesh to understand their competence and I reckon it will either make me buy or sell a stack of shares.
“Poly have direct contact with SNG and can discuss any concerns in detail....They undoubtedly know a lot more than PI's.”
It hasn’t helped them so far, down c.80% on their initial investment.
“It does make you wonder why Polygon remain invested if the company are and have been as incompetent as some make out.”
Some of Polygon’s investors might consider them incompetent, given that they currently sit at a big loss on SNG.
Point being - don’t read too much into what Polygon are doing. They’ve got it wrong so far just like the rest of us.
And for those that say ah, yeah but it could still come good, yes (and I hope it does) but they would still have been vastly better off buying in their entire stake at 20p odd rather than £50m at £1.70+.
RE: SYGGF - Somethings brewing across the pond today!08 Jun 2022 22:39
Patagucci - I’m not even sure a 25% move would be much to talk about… 30p ish, we were much more just a few weeks back and it turned out to be nothing. I still think we’ll eventually get some really positive news but I might not believe it if/when it does actually arrive!
RE: AGM RESOLUTIONS OFFICIAL DOC!08 Jun 2022 18:45
Manifesto - As we thought but nice to see in writing.
Brand - no one was saying anything about cash raises.
We can think the sun shines out of the management teams bottoms, but as shareholders we have a right to hold them to account. So far, a lot of money has been flushed down the toilet with little to show for it, at least in terms of actually making some money. Which is what we are all here for, right?