Member Info for Hemo

Agreed. The wait is excruciating and every day I think about selling but know the settlement will arrive the day after I do!

Prickly, why did Laurence think we would need more funds? Thanks, Hemo.

Thanks for the feedback from the GM. I find it odd they have allowed an operator to put their equipment on site without formalizing it. It wouldn’t encourage me, it would make me think the competition were a shoe-in! And what contract is in place to govern their presence onsite? It sounds to me like the deal has been done and the contract was waiting for Bird et al to hop on board so they could benefit from the share price uplift. Pleased to hear more focus will be put on Mankayan, this is the jewel in the crown and conditions are improving to secure a sale.

Still hopeful of a settlement though Twix as you said on Monday, just the timing that is concerning you?

Thanks Twix, yes I agree completely with the flexibility and scope a private settlement offers but at the end of the day Illumina seem to hold all the cards and from their perspective the deal they are going to want to do privately has to be better for them than the settlement the judge will impose, which by definition will be worse for us! To find a deal where we are all winners seems very difficult especially when Illumina are in charge. What could a deal look like where we are all winners? Who are the people who think TF have approved a change of platform in EU? All negotiations are about power and we don’t have much except TF’s support! We should ask the judge to impose a settlement.

I understand your reasoning that the Board may think a better settlement is possible outside the legal process but to my mind it is completely naive and stupid in their part. How can we think that Illumina will offer us a better deal than they know the judge would impose? Illumina know as well as we do what the outline terms of a settlement would be if imposed by the judge so what incentive do they have to offer us a better deal? They can wait for a year until the appeal is heard and watch us suffer as uncertainty continues to hang over us and the share price languishes. And then agree to the settlement imposed by the judge. Unless of course they are mindful of the EU investigation I guess, which could encourage them to settle. I notice they sought an injunction on the sale of the IONA test in the UK, which was stayed. Could the judge impose that injunction at the end of the appeal? We should have asked the judge to impose a settlement instead of appealing. And yes I agree with flipper that we are all getting bored and frustrated as this rumbles on with the share price on the floor. I am no longer worried about the future of the company but I want a line drawn under this so we can move on and fulfil our potential.

Does anyone know why we didn’t ask the judge to impose a settlement at the form of order hearing instead of pursuing an appeal? Was he able to do it at that stage? Did we think it would be better for the company to appeal with all the pain and cost that involves?

Can’t see any news before 1 March and even then they will probably only just be starting this ridiculous review! Not expecting any major news until April earliest.

Flipper you seem more downbeat today than Friday! Today some RNSs are vacuous and the Board hubristic but on Friday these RNSs are significant and we need to keep our chins up! We need you to stay strong because you keep us all going with your insight! What could be being engineered?

Flipper What can we take out of Roche’s acquisition of Flatiron for Prem please? Forgive my ignorance! When you say window dressing do you mean more news will be released before year end? I still can’t believe the Illumina lawsuit is holding us back so much. Thanks Hemo

Exactly that’s what I was trying to say. Positive news is unlikely very soon after issuing warrants to TF at such a low price.

Not sure if news is imminent based on this RNS. If it was and news was good this would benefit TF at expense of existing shareholders because warrants would be issued at a lower price than after the good news?

I can’t see any significant announcements in the next month at least because they said they were going to do a review first. Absolutely ridiculous but it will probably take a little while. I can tell them the outcome already. Sell Mankayan, sell Eureka and either JV or do Choco ourselves! Nothing wrong with the current strategy, just the execution was poor.

What do you make of the 4% royalty rate in the US? Does that mean we can enter the market there and pay ac4% royalty to Illumina? I guess it’s not as simple as that as there may be other patents in play. I guess if 4% is the rate that would help determine how much we should pay in the UK? But then what is the difference between a royalty and a license fee?! It’s all a complete headf#£k! Either way it would be disappointing to be shut out of the US market unless Illumina offer very good terms for UK and EU.

So you think any settlement will cover the EU as well, not just the UK? I guess that is our leverage, give us a commercial deal in the UK and we’ll extend it to the EU as well and stop feeding the EU information about your anti-competitive practices. Trouble is once the horse has bolted these things continue independently and we probably can’t stop the EU pursuing Illumina now.

Disappointing to fall after today’s positive RNS. Minor point but I think today’s RNS was rather sloppy if I read it right. GMP approval was actually received in August not September 17 and it took under six months not three to register with ANVISA. A bit more care would help.

Agree with you that it is strange only to be seeking commercial partners now in Brazil. Why not do it at the start of the registration process? Does anyone know if Illumina et al are already offering their tests in Brazil? Is it an early stage market?

Who is the recent buyer I wonder? Could it be these new investors? I would add LR to the list of those past their sell-by date. He has achieved nothing yet the company sticks with him. He needs to go as well.

I presume this means any deal is some way off though otherwise why would Ed leave on the verge of success? Should we be disappointed or concerned at Ed’s departure? Why do we need a review of our portfolio? Surely LR knows everything about the company! We just need to crack on at Choco. What is this nonsense about using the money to identify partners for Choco, haven’t they been doing that for the last three months?

And I see royalty rates could be 4%, which may set a precedent for the license fee in the UK and facilitate our entry into the US market?