Member Info for Ghia

WPA - This is simply business.

TFG will act in their own best interests and will not spare a second thought for any additional share holders.

The question I would pose to anyone holding on.

On what planet does it make sense for TFG to allow additional shareholders to benefit from a successful trial outcome?

After all they are the ones that have funded this now not existing holders.

They will move to take 100% in the most cost effective manner once delisted.

They already hold all of the risk.

I’m guessing these finally did end up in Fruits and Tommys bottom drawer after all!!

De-list is probably the right call given everything that has played out the last 24months.

TFG may have just engineered their way out of a hole in spectacular fashion time will tell.

I apologise on behalf of Tommy and Fruits to anyone who may have invested further in recent months of the back of their posting.

Hopefully those that have lost out today had already written off their investment here.

And finally I’m sorry for the content of this mornings RNS not what anyone invested wanted to hear.

The unpopular view of lack of progress behind the scenes has unfortunately come true.

All the best in the future everyone and at least the sun is shining!

Dudio - Why do people insist in quoting buffet on stocks that buffet would never touch in a million years.

In the context of buffets investment strategy that quote makes sense.

On this type of investment it does not.

Strange how posters here are getting more and more aggressive and blinkered as time goes on.

It’s a simple observation that people close to the company are filling their time doing other things.

If you can’t provide work or retainers for your key contractors they will go where they can exercise their skills for a return.

That doesn’t preclude them returning when you do have something for them to do.

But you run the risk of the skill set being unavailable when you need it.

TW’s activities have changed. Other big names have dropped hours to recoup costs.

This pattern was emerging earlier in the year, hence why I stated in Feb trial would not materialise in H1. Sadly this looks to be true.

You’ve all been bickering here for 4months to no end and I’ve left you in peace. At some point you need to look up and reflect.

Xviolet - Precisely TW is a contractor SNG no longer satisfy the retainer, monetary or technically.

He will be back when the show is on the road but it’s a clear signal that nothings happening soon. IMO

Tommy - There are a few signs floating about which are interesting when considered objectively and not emotionally. TW's activities for me are quite telling.

To be clear I'm not suggesting cash issues, but are things progressing at an acceptable rate or are people moving onto new projects.

I find it concerning that the narrative here is so

Blinkered, strong parallels with the closing days of many AIM stock of the past.

Just to be clear there are 3options not the 2options that Tommy is so keen to present.

1 - They have info and are deliberately witholding (Fanciful)

2 - They are not ready to divulge as they don’t have all the info yet ( this is the optimists view fingers crossed)

3 - They have nothing to say because sadly things are not progressing as they had hoped (a distinct possibility that cannot be ignored)

XEL had proven reserves of North Sea oil and a technique to extract they never made it. Yet in the final days it was their job not to admit this and to remain positive.

We have a drug that we are pretty confident works and a delivery method… It’s the boards job to attempt to commercialise it right until the end.

Mani - How are my posts defending the board?

I’m just explaining to you how the LTIPS work and pointing out that since 2020 the board have received zero earn out from the LTIPS and won’t unless something drastic happens to the share price.

Professional - No downside? The LTIP threshold is currently not met for any of the options granted after 2019. So they are not able to vest any of those options. Seems adequate downside non-performance therefore no options.

If the TSR was to exceed the comparative index it’s then a sliding scale to access those options.

Ref entrepreneurs I’d want them to make the calls based on their technical experience and not the calls based on their financial exposure. No one wants a rushed decision based on recovering their % outlay vs the bigger picture that might bring the bigger return down the road.

Professional - I really don't understand why people have issue with the options. They are not free they are performance based so will not exist unless targets are met.

As for really good entrepreneurs the smart ones never risk their own cash that's what PE is for.

A common sense approach to Risk management explains why the directors would be unwise to purchase shares.

If SNG is a success their PERFORMANCE based LTIPS will be triggered and they will make a lot of money, As will anyone invested.

If SNG is not a success their LTIPS won't get triggered. They will likely loose their jobs so investing their own capital is a very risky move considering the volatility of the sector and small biotech's in general.

Directors buying now would almost be a very desperate sign. The only rationale would be to try and prop a falling share price but it's pretty well bottomed out anyway.

Legalwolf - To complete an EWT would they need the rig in place or is the equipment completely separate?

Thoughts on funding the EWT via renting the rig out to another local operation. For example Noble?

Joe80 - I think it’s pretty clear and obvious from the communication from the company why they can’t declare a discovery.

The traditional OnG rules don’t apply to the play.

First they have to develop the methodology of how you quantify what they have or don’t have. That will need to be robustly supported by experts in scientific community before you’ll hear them claim a discovery.

Joey - Did you also see the study mapping ratios of ring finger to index finger length to likelihood of covid complications in males?

This ratio is linked to testosterone levels in the womb.

Interesting stuff.

Great video very clear and precise statements from Lorna.

The realisation of the uniqueness of the play type goes a long way to explaining why the evaluation will take longer than people may expect.

They are charting new territory.

All we can do is sit on our hands and wait for the analysis to drop.

This is a comfortable hold now for me.

Tommy - Agreed it’s awful.

But that begs the question why. They are not publicly listed so how do they get their funding. Etc etc.

Pull the threads you might surprise yourself.

Mani - It depends on your experiences. Personally their reputation got them traction with the NIH when it mattered at a time of national importance. To be one of the first across the line to launch a trial after the pandemic outbreak.

Investor made a lot of money during this period. I’m sorry if you were not one of them.

Tommy - It depends how you view the structure at Southampton and how much of that expertise is in-house and how much is the Southampton frame work they exist around.

As I noted previously Dragon officially launched with SNG as the partner this then got swapped out for Southampton Uni and Top Md.

Mani,

External work in related fields is to be expected and encouraged.

It elevates senior professional status in the industry forges strong partnerships and can foster innovation that can be brought back in-house.

I’m sure you are aware that SSH works as a professor as well as at SNG?

His career has spanned 55years really the chap deserves a restful retirement. But he is one of the great minds that will tireless contribute to the cause until he sadly can no longer.