Member Info for Hemo

I think this will be sold before September because I can’t see the Board wanting to face the anger and disgust of shareholders.

The AGM will be a spectacle and worth paying good money to attend.

Well at least Lyn is nearly in the money now given his average of 0.52p.

Swindler. Incompetent. Fraudster.

I cannot understand how he or BH have kept their jobs.

The Chairman is a wet lettuce.

I see LR is at the J.P. Morgan 41st Annual Healthcare Conference from 9-12th January in San Francisco with HJ and SS.

Come on Lyn deliver some big contracts or the sale of the company and all will be forgiven…well not quite but nearly.

I wonder why TF passed up the opportunity? Not good on face value. Could they be the strategic investor though?

Agree with your calculation Davand.

Did you subscribe to the retail offer?

It seems I got my full request under the retail offer so my average is now 2.74p.

I’m not happy but it seemed the only way to get something back and I feel the company will be sold at some point this year.

My average is not as low as the incompetent, venal, duplicitous directors however. I will never forgive them and am looking for the first opportunity to get out at close to my average.

I doubt it’s LR if he’s spending £200k on placing shares?

Oh dear…this is the calculation from the same guy who said no further funding was required…same credibility as the Board I’m afraid.

I’m subscribing to the retail offer.

I read it that only shareholders on 22 December can subscribe so will be interesting to see how close we get to the 333m.

Of course the current increase makes it even more attractive.

What do you mean what is your share allowance? There is no limit, you can ask for as many as you like, knowing £1m is the total limit.

The other point is the strategic investment. I’m sure this will be very welcome on many levels but at what price will it be and what will be the further dilution?

We have our lenders support…could mean anything, probably we have their support whilst we get the placing away and then the loan can be repaid.

I’m also wondering if we’ve breached our covenants with our lender and they are demanding repayment of the loan. This could be one of the reasons why the funds raised will not last as long as you might think.

The other concern is not just the impact of this catastrophe on investors, but the effect on the confidence of our customers and suppliers. They must be wondering whether we are a going concern and able to continue meeting their needs. This is a downward spiral. We’ve probably lost credit insurance, further undermining cash flow issues.

I really do feel there is some merit in suing the directors, but I feel even more strongly that the CEO and the CFO should lose their jobs. They screwed up and should pay with their jobs. They can’t carry on.

This is what was said on 3 November.

Totally wrong about EBITDA and cash. It’s a total shambles, misrepresentation and deception:

‘The Board is confident that it can further reduce operating costs to achieve positive adjusted EBITDA in the next financial year, and can exercise control over discretionary spending and working capital to manage the Group's financial position. The necessary decisions will be taken as commercial progress in the second half of the financial year becomes clearer.’

6 weeks later and we are on the brink of collapse leading directors to lend the company money and directors benefiting from cut-price shares whilst existing shareholders are burnt alive.

Disgraceful.

Should be live on Interactive Investor in the next few hours.

Do I stick or twist?

One of the hardest investing decisions I’ve ever had to make.

I would feel more comfortable with a new CEO and CFO. I can’t believe the institutions are allowing them to stay on.

They raised more money than they thought so they should be ok until Q4 23 and then there is also the retail offer money coming in. Question is why are they still burning so much cash and what will be the terms of the next placing?

Having said that I don’t think YGEN will be around for the next placing, I’m convinced it will be taken out within a year. The question is at what price and that also influences whether I stick or twist.

Tread by my calculations there will be 3,195,433,576 shares in circulation after the second admission, assuming the retail shares are taken up in full.

Who is going to the meeting on 9th January to let LR, BH and the Board know how we feel about their disgraceful mismanagement of YGEN? There are so many questions to ask and so much accountability to be enforced. Will we have the opportunity to do so at the meeting?

I don’t live in the UK but will try to attend.

Does anyone know the bookbuild platform they will be using for the retail offer? Is it Primary Bid?

All I want for Christmas is someone with enough time and deep pockets to hold these liars to account and press criminal or civil proceedings against them.

I also want to focus on the future though. I believe in the business model but the price of further funds has to include the obliteration of the current board, particularly Lyn Rees.