Member Info for Gampy

FnV, regarding those new or existing institutional investors.. do they have to be invited by synairgen to take part?

I would like to expand on Waiteoxford's point. I am now struggling with this thought all day.

I previously said it can't be too hard to find 200 people willing to invest £10,000 to average down. But I forgot that EXISTING PIs are needed to do that. Are there even 200+ existing PIs?

I ask this because I'm pretty sure I read in the AGM write-up that only only 8 or so turned up. I might be mistaken on that figure.

The more I think about it the more I wonder that 200+ existing PIs is a very large number of PIs.

Can I please have any body's thoughts on this?

Chris; your post was in my opinion tremendous.

The part which stands out to me is your calculation of it not being too difficult to find 300 people willing to invest £10,000 each.

I would further add to this. FnV clarified that the invited placees are part of this non-underwritten fundraise, and therefore if we assume some institutional investors take part, say, up to £750k-£1m, then only 200 people willing to invest £10,000 each would be needed. Which in a planet of 8.1 billion people should not be hard to find I would hope.

Interested to hear everybody's thoughts as one poster has already suggested they do not think IIs will even take part with TFG having so much control.

I now understand this !! Thank you!

Thx.

So I've understood that the minimum amount needed for the fundraise to go ahead is 2.9mil (via the directors, placing, and open offer). If this minimum amount is raised then the fundraise goes ahead and the entire thing will be capped at £19m.

My query is as follows. If TFG are raising £18m in the separate subscription, and the minimum amount for the other side of the raise is £2.9m, then how can they cap the entire raise at £19m? £18m + £2.9m is £20.9m no?

Is there a way to tell if the 2.9mil raise is going well? Or is it something we will only find out when results are published in January?

Thanks FnV for your replies to my queries.

I was also thinking actually; if they wanted us delisting they surely could have done it before this raise with the influence they had post-sprinter?

I hope they think they will benefit from the company being successful in the fundraise and getting a P2 underway. A P2 IA would be a nice check point for them to get to and the SP could be a lot higher when that arrives than now at 2p so I hope they also think the same and want this to carry on. Otherwise there is just too much effort that has gone into this fundraise in my opinion if their goal was to force it to fail and force a delisting.

..Just my 2 cents (pardon the pun..)

Ok. my next question naturally:

Do we think TFG *want* us delisted? Do we think that is their motive here? To take private and do whatever they want with it?

..Or would they prefer this fundraise to be successful and for us to remain on the stock market?

Difficult to answer this I appreciate..

Thanks to both. So if the 2.9mil is raised through all three of those avenues then the raise will be deemed successful and the company will not delist?

Please correct me if I am wrong. 2.9mil is alot of money to raise if I really think about it. And this has to be raised only by us PIs? Parodyparrot raised a point where only existing shareholders can take part in the fundraise where 2.9mil needs to be raised.. it seems a lot of money to ask from existing PIs?

Thank you for your reply Spacman. So you said that you "can't see a delist happening since the company is lining up institutional investors to place any shares not taken up by the PIs". I am very reassured by this as my hopes were exactly this - that the company or TFG have arranged for other large IIs to scoop up the discounted shares in the open offer.

May I ask - where did you see that the company is lining up large IIs though? It was a very long RNS.. did I miss it written somewhere?

Just another question to Spacman please (and every other knowledgeable poster here of which there are many!).. do you think we will delist or do you think this fundraise of 2.9mil will be successful?

Spacman, did I interpret this correctly. Did you say you think this could be 17p by mid-January? That's what I interpreted from you saying you hope to break even by then.

If so, why do you think this?

Ok. So if TFG will have an extra 900m shares what % will that take them to?

How likely will it be that they go over 75%?

"I'd be surprised if PI's don't take up enough shares but delisting is a real possibility."

Thanks doc83. Yes I would hope PIs do take up enough but my big worry is if TFG just buy as many as they can to get to more than 75%? Or buy much more that just simply takes them to more than 75%?

Ilovesushi thank you for your reply but please can you clarify, is delisting happening for sure?

Hoping for anyone to shed light on Waiteoxford's concerns which are also mine.

If TFG will own more than 75% after the placing, then are we not guaranteed to delist? Worried!!!!

That's my take on it anyway?

Also hoping for some enlightenment.

Should existing PIs take part to lower their average? Why wouldn't they at the discounted price if it means ensuring company survival and also cheaper shares making averaging down easier?

There are just no words to thank you for your wonderful replies - Wigster you detailed that very helpfully in particular. Thank you so very much. So what you are saying is that I paid what I paid, and my average doesn't change.

I've understood that if the number of shares I own won't change and the average price I'd need to reach to break even won't change, then the only thing that will change is how much of the company I own as I would now own less of the company.

So if we stick to my 70p average example, how much harder will it be to reach my average after a dilution? And why exactly would it be harder to reach my average after the dilution? This is now my new worrying question! (I'm trying to envision what a post-dilution Synairgen would look like and what they would need to do to reach a "harder to reach average").

Hopefully this doesn't make you get into the mechanics of how the market works! :))