Member Info for extrader

Sorry for delay in getting back : regret, I haven't contacted recently. AT didn't reply to or acknowledge my last contacts, a couple of weeks back.

Most Saudi businesses/Govt depts (ie hoped-for contract signatories) are shut Thurs pm and all day Friday.

If the Saudis were to sign a contract on Sat or Sun, we'd presumably be told about it on Monday, since SRT is listed on the London market and follows the UK reporting week.

Thanks for this hammerphil.

The project risk has been 'substantial' since it was approved, so on the face of it, no change there...

I'm intrigued by this on p 2/6
?Increased annual electricity traded between ESCOM and EDM. (Megawatt hour(MWh), Custom)

given as 360,000 MWh from end 2023 (original target date) . It suggests that the increase in trade follows completion of the interconnectors, but doesn't say whether the electricity is coming from 'existing spare/unutilised' or from incremental supply - which might be a pointer to Ncondezi. Which isn't now 'due' until sometime in 2025, IIRC.

Any ideas ?
TIA

ORPH PR have now got back with a curate's eggish explanation about CHIMagents :

"..The acquisition of CHIMagents was completed and announced via RNS on 14 July 2021 (https://www.londonstockexchange.com/news-article/ORPH/new-contract-win-for-open-orphan-s-breda-office/15057797).

Adrian is now a full-time employee of hVIVO and what appears on Companies House is a result of the paperwork still being processed as part of the recent acquisition..."

So Wildfire (and CHIMagents) IS on board (good !), the paperwork processing is taking its time (over 3 months...not so good).

HTH

Are you thinking of this guy ?
https://www.linkedin.com/in/bruno-speder-8819697/?originalSubdomain=be
He has/had a 25/200 shareholding in CHIMagents Limited.

Hi Greend100,

Thanks for this ! I didn't see the CHIMagents footnote to the Breda contract news....;-<

Companies House shows CHIMagents Limited as being incorporated in June 2020 and in a confirmation statement June 2021 named 6 individuals as shareholders, Wildfire and Schutten each having 60 of the 200 share capital.

Have they /ORPH just been remiss in reporting 'subsequent developments' ?

Apart from CHIMagents, Companies House also has Wildfire has a Director (since Nov 2020) of PrepBioPharm. He is reported as having joined hVivo in July 2020 and is described as a director of hVivo in an article written for Drug Discovery Today in January 2021.

All a bit confusing , to me . Any further insight/clarification ?

TIA

Thanks for this. From the Sun article

.."Patients won't be infected with Covid until next year but the facility is prepped for the trials.."

I think CF should be/should have been more realistic with CHIM timelines...and more informative about the ongoing delays, to help manage expectations.

Someone elsewhere has also pointed out that it's all gone quiet re CHIMagents (an option to acquire announced with much fanfare in July 2020), it seems per Companies House that Adrian Wildfire is still (with Martin Schutten) a 'controlling' shareholder - so presumably that's not happened, either.

I've written to ORPH to ask for clarification.

Must admit, it does rather look as though the davits on the 'renewables business' lifeboat that some have mooted are being readied...

Big Q is - does Xi's announced non-attendance at Glasgow mean anything ? I'm sure China will want to assert itself at some point, but maybe not just yet...

Ho hum

Hi earache,

You make a valid point re Fauci and US fear of litigation.

However, you've also 'mentioned me in despatches' - and I think you're wrong on that count.
From the article you reference

.."Scientists are currently growing the Delta Covid variant in laboratories with the aim of intentionally infecting volunteers.
British researchers are developing the samples to use in challenge trials ."

That - 'the samples to use in challenge trials - is precisely the 'characterisation study' wot I spoke of, with the aim to have the results ready for application (ie start of CHIMs, after (eventual) ethics approval) around the end of 2021.

It's been obvious for some time that little of the associated revenue will be recognised/recognisable in 2021, which accounts in part for the s/p weakness, IMO.

Thanks for this. It confirms (there have been doubters) that the Delta variant characterisation study is on track [for completion later this year, IIRC].

.."The volunteers were infected with the original SARS-CoV-2 strain first discovered in Wuhan, China. A Delta strain is being developed to be used in possible later challenge trials..."

Only half are locked up.....and trades are 4m out of 250 million.
More 'noise' than 'signal', surely ?

.."He certainly has the pedigree and no one has more experience. ..

It appears to have taken him or HMV AZ a year to realize that it would be a good idea to check whether IM was GAAP-compliant or not, before trying to sell it to the US market, though....?

A bit of an oversight, surely ?

Hi BBD,

If it was indeed like-for-like, that invites the question why /whether Meade chose to leave.
It's (mildly) interesting that ORPH's website has already been updated to reflect the arrival and departure, which at least suggests it was planned.

I think not:

.."Yamin Khan is an Independent Non-Executive Director at Open Orphan and is Chair of the Audit and Risk Committee and the Nomination Committee. As part of Yamin's agreement, he is paid an annual fee of £60,000 for provision of services for 24 business days per annum. The agreement may be terminated by either party serving a minimum three months’ written notice. .."

Appears to be on the same tariff as Meade was.

AFAICS

From the RNS :

"Laterally, he led global business development at Pharm-Olam resulting in significant growth and a successful sale in 2017..."

'Laterally ' ?

Well, per linked-in, he stopped work at Pharm Olam in July 2019 (that's the 'latterly') and then started work as a consultant in July 2020, which he's been doing up to now.

So may indeed be 'sideways'.

"Literally".

Ho hum.

Michael Meade appears to have left at short notice. He wasn't a shareholder per the hVivo admission doc.

.."it is 2, pilot has been done if you bothered to research..."

Back in 2017 and 2018, IIRC. That's a long time to absorb whatever the 'lessons learned' were , IMO.

Pedant mode :
.."it's a huge 360 degree turn.."

Well, that would leave you pretty much proceeding 'as it were'......;->

As others have pointed out, if there were a radical change from the previous publicly stated position, it would be incumbent on ORPH/CF to notify the market, AIUI.

Hi elrico,
Unfortunately won't be able to make the upcoming Gosport presentation.
Perhaps someone could press CF for clarity on the DIM spin-off , which he suggested should be a piece of p*ss (I paraphrase) as they had the POLB precedent.
I hope this doesn't include the somewhat abusive 'management incentive' that he took on POLB : I find it quite insulting of investor intelligence that he points to the £ 300K invested in ORPH ( "2 years salary !") whilst quietly overlooking the £ 1.5 million (in CF speak "10 years salary ! ") taken for the POLB spin-off....and sincerely hope that he isn't planning anything similar for DIM.
I suspect the partner shareholders in the other 2 spin-offs are in a better position to discourage this.
I also think that this sort of behaviour may (repeat, may) account in part for the lukewarm Institutional Investor support that ORPH seems to 'enjoy'.

All IMO/AIUI

Says the new CEO of Rio Tinto.
I've heard it said that his predecessor spent many years playing a canny game of which of the two parts (of Simandou) to team up with (esp. re the non-mine infrastructure finance) to slow everyone /anyone from actually moving ahead with what would longer term be against RT/Australia's interests....
Although if Fortescue were to do something in C-B, that might be a useful precedent/provide some political cover.

Ho hum

You obviously aren't bothered about the repeatedly revised explanations of what the actual income for H1 2021 was and the associated re-interpretation/classification of due diligence fees ?
To say nothing of the revised definitions of SYME's business pipeline ?

At which point, you might want to read the underlying analyst's report.
hxxp://www.qcmfunds.com/wp-content/uploads/2020/04/Quintessential-Akazoo-Report.pdf

HTH

Ho hum.