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Apologies this should have read;
Assuming Polygon's WAP was £1.60 (conservatively) prior to P3 readout @ 18% =36M shares = £57.6M
Further additions;
21/02 9.427,428 shares at VWAP £0.29 = £2,733,954
22/02 1,450,000 shares at VWAP £0.27= £391,500
Equates to total shares= 46,877,428
Total Investment = £60,333,954
WAP = £1.29
Total Invested = £60,333,954
WAP = £1.29
Obviously applying assumptions and if they are still adding especially yesterday it will be lower.
Happy to be corrected. JMO GLA
#HSD I agree 100%
I did some calculations earlier admittedly with a few assumptions on Polygon's WAP prior to P3 RNS and their subsequent accumulation since and arrived at a figure of £1.20. Further accumulation to 25% (particularly yesterday) would take this to £1.10 IMO.
It also suggests that SAB Biotherapeutics are going augment their own SAB-185 P3 trail with the results of ACTIV-2 P3.
Is it feasible that Synairgen could do likewise to achieve the statistically significant result?
#Doc Does the announcement not mention that participants are encouraged to access SOC outside of the trial?
Does that mean on completion of the trial or during the trial? If the latter is that not the same as the issues with the Sprinter trial?
#Ghia - As horrendous as Monday was for all of us LTI's and despite all the soul searching we have all done subsequently we should a cut ourselves a little slack. Polygon having built up an 18% position clearly didn't see this coming either.
Unfortunately I was too 'caught in the low lights' of the RNS to realise that Polygon given their holding would have to continue to build their stake to protect their investment.
At this stage it is of great comfort knowing that Polygon are so invested.
GLA and I hope todays news has if nothing else given us some hope of recovery.
#Ghia I totally agree with your assessment of the situation posted earlier.
I think the interesting twist to the story as highlighted earlier assuming Polygon have now attained 25% is that it will draw RM out to speak sooner than he may have wished. The BOD may soon not have the control that they have previously enjoyed
Giving there is a baying group of disgruntled shareholders looking to recover their initial investment he has to convince us that there remains inherent value in sticking with the current BOD.
This is the price of badly structured trials and poorly worded RNS's.
GLA
#Manifesto thank you for your reply.
I have to profess to not reading every post on the board since the RNS and it may well be a point that has been debated ad nausea.
However given that the trial was run across 22 countries with presumably differing levels of SOC how could this ever deliver a consistent and meaningful set of results?
The only way to exclude the nuances of standards of care across all countries was by comparing the drug against a placebo.
This may not have been possible for various reasons I agree that we should reserve judgment until we hear from RM but it doesn't look good.
#Manifesto
If RM (BOD) knew the trial was Placebo/with SOC v SNG-001 with Placebo what was the point of the placing to raise the funds to run the trial?
There is an air of surprise to the RNS that this was the case IMHO.
I don't think given the result of the Sprinter Trial that the company has the credibility now to raise further funds for future trials. They had one shot to land this.
This is merely in response to your post and nothing personal. I appreciate that tempers, emotions (call it what you will) are running somewhat charged at the minute and I hope all the LTI's are coping with yesterday's disappointment. (Genuinely).
We have looked at why Polygon would want to acquire the CFDs as it gives them an additional 1.309% voting rights for minimal capital outlay and without spiking the share price up.
I am interested in others' thoughts as to why the 4 counterparties would be willing to forgo any future gain on the SP at this stage in the proceedings and in unison? I appreciate that there is an element of de -risking their investment but I am not so sure I would do the same with my stakeholding given how progression to Active P3 has to an extent de-risked the SP.
Interested in your views. GLA
I am with #modpod's train of thoughts with the latest RNS. Acquiring an additional 1.309% voting rights via a CFD amounts to approximately 2.6m shares which based on a daily average of 3.618m could have surely been obtained in the next couple of weeks? What's in the offing?
#Matml74 I also agree to reach 30% will require a phenomenal buying effort and consequently increase the SP in so doing.
Just my opinion but it's all intriguing nonetheless. GLA
Woodie I suffered from Panic Attacks and Anxiety in my teens and it was very debilitating. I had no interest in talking about it ... I simply wanted to out run it. I couldn't and it would always win the race.
I read this book at 23 and it changed everything;
https://www.worldofbooks.com/en-gb/books/martin-landau-north/for-people-who-panic/9780948519000?gclid=EAIaIQobChMIr8a1keDj8wIVDbbtCh02SwMgEAQYASABEgL0vPD_BwE
If you cant get a copy I will find my original copy and send it to you (if I can find it). Take care mate.
I think dumping 1m shares mid day when 1m shares are traded daily in your own company for personal benefit is a really bad move . Particularly as a Director when you have encouraged sharehoholders to share in your vision. v O