Member Info for HotChip

Rathbones still? Very likely and shouldn't come as a surprise.

They're aren't any opinions.....let's move on shall we?

Just seen a very recent post that MO and others have 'liked' on linkedin:

"Following our recent $115M Series B financing, we were excited to see ILiAD featured on the Nasdaq screen in Times Square. Sincere thanks to RA Capital Management, Janus Henderson Investors, BNP Paribas Asset Management Alts, AI Life Sciences and other investors for their support as we move BPZE1 toward a pivotol clinical trial to evaluate protection against Bordetella pertissis.

Grateful to everyone supporting our global mission to eradicate disease due to this pathogen."

Perfectly acceptable. Depends what you bought in at & what your inv strategy is...

How very bizarre....reducing and then adding. I don't get it?

DYOR

No, I don't see this going to 3s. The potential contract has not been included in the pipeline. If it had been and the contract doesn't materialise, then I would say you may indeed be right.

DYOR

Thats because its a potential deal and for me its still a binary bet on which way this will go. Signing an LOI over a year ago does not mean this will go through. I hope it does though, but until a solid announcement is made that confirms a contract has bern signed and the financials are in line with what was mentioned previously, then this will go higher imo. If not, I think we will see this drift back down to the 5s or 6s

DYOR

I think so. I believe it will move a couple of pence higher once confirmed contract news is announced. Hhowever, this is not a dead cert. If it falls through or on lower terms than originally thought (given that more than a year has passed since the LOI was communicated), than the SP will take a big knock imo and will be right back in the 5's.

DYOR

I would say they are holding back news until the ink is dry. and that is sensible given what happened with the SP when the LOI was announced.

I'm still in as I think it has further to go, but am cautious as I want to see the financials and what year this will be booked in. I also need to see evidence of other contracts given the recent PW.

DYOR

Need to be mindful that IIs have been / are selling down, so SP growth could be limited despite any confirmed contract news which may already be baked into the current SP.

DYOR

It depends on what you bought in at as to whether you want or need the SP back to the 30s. There will already be some profit-taking from those we bought in the 4s/5s who are happy with selling out right now.

I think the current SP right now is probably about right in terms of valuation given what we know right now and even more so given the recent PW and the badly timed acquisitions, which was not their fault unfortunately.

DYOR

Yes, maybe not issuing an RNS yet is for the best. It's early days and look what happened when the LOI was announced...it went bad. Probably best to wait until the ink is dry on the agreement first before announcing anything to the market.

DYOR

I'm not getting too excited about this atm. It's still an LOI, which imo should not really have been announced at the time - it was not needed and has done nothing to support the SP over the past year. Far better to just have left things unannounced imo and wait for a formal agreement. However, this does look positive and am hopeful some traction will now be made on the HCT and that the financials are as good as we are led to believe from the LOI announced a year or so ago.

An RNS in the morning would be useful.

DYOR

There's definitely some stake-building going on here imo. Hopefully, enough to tip it over into a TR-1 so we can see who it is....

DYOR

I agree, the TU is expected this week and don't think there will be that much to add than what has already been released in the previous update. I expect cash to be down to around c.£12m as already predicted previously. Placing is possible, but I hope this doesn't take place until at or after the final audited results are published for last year. Who knows....

DYOR

Worth a listen at 36:20 onwards, seems like they are invested - mentioned about visiting CRS, lumpy contract, illiad letter of intent and view that this was announced too soon in their opinion. Tone and content overall seems flat and the mention of binary outcome does not look good at all. If you have 5 minutes to spare, its worth a listen...

DYOR

It's a HVO sponsored article, so of course it is going to look and sound great!

DYOR

I believe there will be some short-term SP depreciation, especially if the trading update at month-end reinforces what they have already communciated pre-Christmas. However, don't forget about the value that Funky Pigeon brings to the group over the medium to long-term. At least the lower the SP, the higher the dividend atm c. 7.5% - very good indeed! I believe this is a buy and hold, although I expect the SP to go down to the high 50's post next trading update, if the period immediately up to and over Christmas is just as bad as in the most recent update.

DYOR

And what exactly do you expect Mo to actually do??

The lack of update is probably because there is no update :)