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I was just about to post something similar ....although my information comes from a different site, so I'm guessing that Framlington Biotec is the 'European health fund' AS keeps referring too, .....the funds worth 411m and they do state in their mission peace that ..."The aim of this Fund is to provide long-term capital growth over a period of 5 years or more" so hopefully they will stick around for a while.

But I am surprised by the small amount of shares/% they have taken which amounts to about 1.65m......hardly screams total confidence and certainly doesn't warrant AS giving them a gold halo award...... and if they only took 5% and were worth worth trumpeting......then clearly most of the shares were taken by flipper funds and he obviously new that.

The last few weeks that have destroyed market confidence and the value of the SP puts the ridiculous ego chasing M&A strategy even more into perspective.

If AS has any chance of rebuilding his reputation as a CEO he should start by cancelling his options and then the board re-issuing them linked (like most companies) to the value of the SP .......and I would suggest they were released in tranches the first being no lower than the 'Housegate price'

Personally I think the market reaction this morning is solely down to how it now views AS and his performance over the last 4 years as CEO.....I'm not sure anything he says would move the SP right now and I am also wondering what the point of tonights Webinar is given what has already been released at the AACR..........other than the usual tanking they cause

Bella..okay well that would still be over 10m so we will see

@Bella6532 I don't think we will see a TR1 because even if the 'European fund' doesn't sell, being non UK based they don't have to issue a notification below 5% which would be 18m shares and it's unlikely that anybody who participated in the placing (bearing in mind the total allocation) will have a holding of that size.

@icecool .."also it wouldn’t have been significant amounts as no TR1s were RNS’d"

That doesn't make any logical sense ..you are making my point .... the reason there are no Tr1's is probably because they have sold......let's not forget these 'funds' thanks to a nod and a wink form Al were selling down from maybe 115p so not only have they made huge profits their weighted average is likely above 75p which enables them to be able to keep selling down well into the 40's and still make huge profits.

The point that's being made about a low ball over is a very valid one because AS's miss management has possibly left the company open to a very low offer like 150 from BP..but don't worry because while many LTH even at that price will still be underwater AL with his options will be able to get by with his 9M.

@Icecool.... "Institutional investors don’t pony up 26 million plus on blind faith when the interest rate at the moment is pretty attractive"

They do when they can forward sell most of them and make up to 50% profit

Absolutely CTSFO.....I've said many times...you can have a great forklift truck driver in the warehouse........but it doesn't mean they can run the warehouse.........Alan Shearer a prime example.

Really good post DTW and I think catches the mood well…..my three points would be these,

A) Why is AS paying himself 1/2 million a year when he has achieved barely nothing commercially in 20 years and the only technology he does have that is likely to earn any revenue …..he didn’t even invent himself!!

B) Having wasted money on an ego chasing M&A ‘strategy’ how has he managed to turn an acquired DX division that was making £5m + 18 months ago into a lose making business

And C) What was point of wasting even more money on an expensive ego chasing move to West London and paying for more expensive flashy offices ………when the Cambridge base was perfectly adequate in a City that is recognised around the world for it’s technology advancements (anyone remember a little company called Arm).

* And much better sentiment

....."If Avacta had of privately placed the whole amount with an institution or large pharma I would have bought the defending a low ball offer line"...

I think most would have accepted that because SP would have bounced hard ....... in fact it would not have been driven down in the first place.......and we would be sitting with a funded business for 18 months 2 years.

Because the new 'investors' as AS calls them have no interest in holding on to the shares......probably a lot to do with faith .......and there is not a lot of that around at the moment

The European 'specialist' fund they placed the shares with.

Because @Energyshares with AS it's all secret squirrel.....unfortunately he has never understood the shift from university project to commercial enterprise.

Well if he is in talks right now...........then the whole s*** show he has dumped on us today is even more reason why he has to go.

The fact is come the morning the SP is going to drop to the placing price...in the past we have said okay but it will bounce hard from that sort of price........but I now ask myself why........up until today the general opinion was a licence deal was maybe incoming at any moment but judging by todays events that is clearly not happening anytime soon so this could be a bit of a slog for a while.

The problem for me is.....if there was such a need for a 'cheap' emergency raise then either a) the science is as yet not as ground breaking as first thought or b) even if it is... we are still in for a long wait to see any 'boost' in the SP.

I must admit that I did find it a bit strange that on the cusp of a paradigm shift that ES thought it was a great idea to become the CEO of another small random bio company rather than maybe find a position at worst as a joint CEO position with Avecta and wait for the waves to part

AS has turned into a bit of a car crash.....Dx Wetherby has produced nothing for 20 years ......why waste money on Dx companies when clearly it was Tx that was where the commercial viability would likely come.........ironic really that even the Tx side of the business is not actually's AS's 'invention'

I genuinely think that AS is not bothered how long it takes, I have been invested 4 years and judging by the RNS there could be another 3 to go which is double what he was quoting at the start......I have wondered for a while why he spent the Heights money on a couple of random DX companies when the money would have been much better spent on investing in Tx the side of the business that at least appeared to have something that could be commercial......at a time when DX had produced nothing commercial for many years.

But then I thought actually it makes sense for AS because he was able to secure finance to buy a couple of business that with the small profit they make maybe 4-5 million he would forever regardless of what happened to DX or however long it takes to come to fruition…….always be assured of his salary…………cynical maybe…..but after todays shenanigans I think anythings on the table……..but what a waste of money the M&A project has been.