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But you need to leave 30 days before buying them back once sold for that to apply. Could be isa transfer if they released funds from other shares or had spare cash in the account. Anyway as you say tomorrow is another day.
But you need to leave 30 days before buying them back once sold for that to apply. Could be isa transfer if they released funds from other shares or had spare cash in the account. Anyway as you say tomorrow is another day.
Berm, not sure that is correct I could be wrong. But when the options are issued the total number of shares in issue will increase. Therefore, would SCLP not need to notify so anyone knows when they cross a threshold. As I say not certain but that is my thoughts. Not that it matters as you say the block listing is due in August. Either way I doubt it will effect the share price. Hopefully we should start another move back up over the next few weeks and months. IMO
Oh well. I doubt Redmile and Vulpes are going to be pleased. At what point do they start wanting to take control of matters. Could they offer their shares out to pharma at a knock down price to limit their risk of a loss say 20/30p.
Odd we have had 4 x 250k sells or at least they appear to be sells this afternoon and not one of them has been delayed in reporting. Normally trades of that size are delayed a few hours. Wonder if there will be some much bigger value trades showing up later.
If it was options related and I personally doubt it is. Then Director deal RNS must be issued within a maximum of three days. It would probably come in the same RNS as the options have been exercised.
If LD were to sell to fund the options and tax bill I believe this would be done off market as an arranged transfer like happened last time. IMO
Sunshine, I hope they don't do that it would have completely the opposite effect. Their track record on RNS has not been great has it. Hold tight there will be an upturn at some point just don't know when. Prices go up and down. Nothing ever goes in a straight line.
Redmile and Vulpes control what happens to SCLP. Whilst the update was not the clearest as long as there are no sells from these two I am happy to hold.
LD options will be interesting. Will they be taken up in full from her own funding? Or will she sell some to cover the cost of purchase, that would be around 25% of the options available. Would show massive confidence to stump up the cash. IMO.
The price of any sell out will probably be determined by Redmile and Vulpes. Scancell can't fully control the price or whether to accept any offers. If you were a large Pharma that wanted to get a deal done you would buy a few on the open market and stay below a reporting threshold. Then you would go to Redmile and Vulpes to see what they would accept for their shares. Once they have them they would own nearly 50% and would then need to offer to everyone else. So the question is what to Redmile and Vulpes want / expect? Whoever did that would need to keep each negotiation separate so as not to be seen as related parties.
Or when do either proactively start moving to offload and approach potential buyers if they are not seeing a return.
The only negative to that approach is they may not have LD onboard.
I don't believe any of the above will happened anytime soon as I think both are happy to wait for results and data and are both very supportive of SCLP.
Just my opinion.
A large sell this morning of 403000 shares. Speculation, maybe RG sold a few of his to pay for the options. His options on 2880000 @ 4.5p would cost him best part of £130k. Anyway will be more happy when he takes up his options @33.2p before the end of the year.
Look at what happened in 2015 AACR. The day before the presentation there was an RNS to advise they were presenting. The RNS went on to say that a copy of the poster would be available on the AACR web site. I suspect it will be a similar route this time IMO.
Loch, that’s not correct they can’t offer 13p for all the shares. Only when they go over 30% do they have to offer the highest price they paid and do that within 45 days. So if they bought today it would cost them more than 13p Nobody has to accept any offer. It won’t happen IMO that’s not the way Redmile work why would they.
Header Says it all for me
Abstract
Scancell is an early-stage bio-technology company that is well positioned with 4 distinct technology platforms, in the high-growth immuno-oncology space. If all 4 platforms were successful, the company could generate around $12bn in peak aggregate revenues by the early to mid-2030s.
https://vulpesinvest.com/wp-content/uploads/2023/04/Scancell-report-20230412.pdf
Johnny Redmile and Scancell would not need to report such a small change in holding level. It only becomes reportable if they move through a threshold which is up or down 1% or about 8m shares. If they had a seat on the board which they don’t that would also result in a notification being required which is why Vulpes report all their trades. It may well be an admin error why would Redmile need about £275k small change to them. IMO