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Good work !
Would it be too much to ask NCCL/Hanno to help the mood music by acknowledging these developments ?

Live stream presentation .
Good for those of us who can’t attend.

The example apunter2 gives is of the exercise of a certain number of warrants (out of a known total) at an agreed (and also known) price. Xtract has previously informed the market of the number of warrants, the price they can be exercised at and over what period, so that people are aware of what the dilution potential is...and what the cash inflow to the Company's coffers is.

In the case of ARC's warrants, so far we only know that their value will be £ 1.4 million and that the warrants will be exercisable over a 3 year period. We don't yet know how many shares the warrants will cover, because that depends on a VWAP-linked calculation, we've been told the formula but not the outcome of the calculation (or even if it's been done).

apunter2 is barking up the wrong tree.

When was the loan issued (RNS'd as 'in process' on 2 Sept) ?
On what recent day was the VWAP 0.208p ?

Well if I posted something that undermined my own position, I'd be 'bored' too.

"That’s if they decide to exercise/ exchange the warrants for shares"

Pls tell me how you can buy or sell shares (that appear on your day's reported activity) unless you've exercised the warrants that give you them ?

Call me old-fashioned, but...

.."They can exercise the warrants at any time within three years, at” lowest closing VWAP over the ten days immediately preceding the issue of the loan“

Preceding means 'before'.
And then you post

.."It will always be 30% above the VWAP, from ten days after the loan was completed.."

So , for all this to be related to your O/P - 32 m shares @ 0.27p - on what day, recently, was the VWAP 0.208p (approx) ?

Look at the extract you just quoted :

For that to work, ARC will have exercised its right to buy (some) shares - and bought £86K worth out of its £ 1.4m entitlement .
It would have been able to do so because at some point in the 10 days prior to loan signature (only RNS'd 2 Sept as being in process : term sheet signed/definitive agreement pending) there was a day when the VWAP was 0.27p/130 ie around 0.208p.

(1) I don't remember the Volume Weighted Average Price ever being at that level...and if it was, (2) why exercise only £86 K worth and not fill their boots ? So I'm pretty certain it's not ARC.

It's more likely to be something to do with closing out on 2 Sept Negma 's residual CLN's, where conversion to shares is over a 6 business day ( not 10) period - taking you to Friday - and at 100 % (not 130%) of VWAP , a benchmark that may indeed have been satisfied @ 0.27p.....

AFAICS

Bloomberg says of BENC that " This is employed when the price of the trade is determined by a benchmark - for example, Volume Weighted Average Price (VWAP) or the price is determined over multiple time instances according to a given benchmark "

VWAP is /was a reference point in the conversion rate of Negma's CLN's into SYME Ordinary shares (see 16 June RNS) - but they should now be out.

It's also a reference point for the £ 1.4 million of warrants under the new ARC facility - but the trade price doesn't seem to fit the requirements.

As folk keep telling me, maybe better to ask SYME rather than the board.

From today's depeches, nothing much to do with anything 'close to home' for C-B, but an insight into what's going on in the world that we just don't see covered in the UK media :

.."Panama, population 4,285,850, is a Spanish-speaking country in Central America. Since the the beginning of the year, about 50,000 migrants have entered the country through the Darién Gap. They come from more than forty countries, including Angola, Burkina Faso, Mauritania, the Democratic Republic of Congo, Cameroon, Mauritania, Nigeria, etc. This year , they took the risk of crossing the extremely dangerous jungle border between Colombia and Panama. "

Apparently they're all hoping to make it to the U.S......

What a world.

The data-relevant bit :

.."Volunteers in the trials had only mild symptoms. And the data generated look like being very useful. Dr Catchpole says he and his team were “stunned” by how consistent the course of the disease was in different volunteers. The shedding of viral particles, for instance—which can then go on to infect others—usually starts within a few days of infection, typically up to day four, after which it increases very quickly.

Another strand of the trial aims to nail down just how long it takes, after an individual is infected, for covid-19 to be detected, both by cheap, widely used lateral-flow tests, and by more expensive, more accurate pcr ones. During the trial, researchers conducted frequent swabs of the rooms that volunteers were confined to. That allowed them to figure out exactly when infectious viral particles—as opposed to just passive blobs of genetic material—were present in the room. There will also be more to say on covid-19’s neurological symptoms, and on the immune response of infected individuals..."

From the article, it's clear that we're not out of the (ethical) woods yet - there's still a lot of hesitancy, but on a brighter note :

.."And having conducted one set of hcts safely, it should be easier to undertake more in future. Further trials could allow quicker tests of vaccines against new variants of sars-cov-2, for instance, or tightly controlled comparisons of different jabs to see which is the most effective. (Such questions could take years to answer with real-world data.) They could also help obtain swift answers on how well new or existing drugs work against covid-19..."

The publicity is good for hVivo, but the dots to ORPH aren't made. Maybe some kind person should tweet Natasha Loder (see below) referencing the disease progression data mentioned in the /her ? article and pointing out the value of this to DIM, a sister company of hVivo, both part of the ORPH stable.....

I 'd do this myself but I'm not on twitter.

The tweet just before is from Natasha Loder, who posts as the Health Policy Editor of The Economist....

Re SF, there was some suggestion at the recent presentation that SF might have an unoffical role as representative of the PI's , if I understood correctly.
I posted a 'live' question asking of his contact details, but this wasn't addressed before the wrap-up.

It might be worth your asking Elizabeth - who came across as pretty conscientious - whether there's any mileage in this line of enquiry.

If nothing else, it's a good excuse to get your points across !

ATB

IPO of 9.5bn shares @ o.472p, so £ 45m market cap.
Encouraging start.

Hi Kongolasse,

You may well be right. Look on the bright (?) side , though : Guinea has/had Tony Bliar as adviser, C-B has/had Dominique Strauss Kahn (ex Head of the IMF) in its corner. I imagine DSK is the 'bigger weevil' in Francophone Africa.

It also looks as though Nguesso fils is being groomed as successor to the ailing old man, he may be more 'in synch' with newer ways of skinning rabbits...

'Dum spiro, spero' - motto of South Carolina, amongst others.

PS I seem to remember from the recent presentation that , per Hanno, signature of EPC would allow the 2nd part of the accelerated development programme (the drilling) to get underway....

One would assume the 1st part (checking that EPC documents comply with Moz laws) will have been done before signing....

Hi G_G_G,

Normally I'd agree with you but on this occasion, I think Hanno's in tune with the political winds (there may even have been some discussions with CMEC about how to play the environmental 'elephant in the room').
It may be just me, but I'm not entirely clear , for instance, that GE isn't still involved in some way, beneath the radar : the comment I got back when I queried (if I've understood correctly) was a rather evasive, 'we'd tell you if something had changed' or words to that effect.
Anyway, it's not as though they're likely to be guided by the witterings on a bulletin board, is it ?

;-> / ;-<

Winner of the connector line was Larsen and Toubro (India) @ $ 56.7 million.

Interesting to note that CMEC bid too - $82.5 million- and that L + T's contract was SIGNED last August 20th.

So CMEC would presumably have been aware that it had lost.....and NCCL would/should have been aware that the contract had been awarded (even if they didn't necessarily know the winner).

The placing was announced on the 26th and the investor presentation followed on 31st August.

It's a pity the market wasn't given this snippet of good news before the placing, we might have got it away at a better price.

AFAICS/AIUI/IMO

Hat-tip to mtpaz at a d v f n for this good write-up.

https://businesscann.com/greek-cannabis-cultivator-waiting-for-regulators-approval-before-a-spac-london-listing/